Bare Bones health insurance is a way to save money. Did you ever buy something you thought you needed but found out later you just wasted your money? Here are some examples of things in our basement.
- An exercise rowing machine
- A food processor, used maybe half a dozen times since we bought it maybe 10 years ago
- A paint sprayer. Used once.
- A kerosene heater for when the power goes out. Never used.
- A propane camping stove for when the power goes out. Never used.
- Clothing that is too small, but was on sale. Purchased while on a diet.
- More exercise equipment, rarely used.
Most people do the same thing with health insurance.
They purchase benefits they rarely, if ever use and then complain because their premiums are too high.
Plans with copay's, multiple deductibles, coinsurance are like junky basements filled with things you never use.
They should have purchased Bare Bones Health Insurance and pocketed the savings.
What is Bare Bones Health Insurance?
- Catastropic health insurance coverage.
- Designed to insure situations that are too expensive to cover with existing funds.
- All inclusive – includes inpatient, outpatient & Rx
- Eliminates wasted premium dollars for things that are rarely used.
- Has a clearly defined "out of pocket" limit for large (catastrophic) claims.
- Has very few moving parts.
What it is not.
- It is not a limited benefit plan.
- It is not a discount plan.
- It is not a plan with artificial caps on benefits.
What does Bare Bones health insurance include?
- A high deductible health insurance plan, then 100% coverage
- Everything you need and nothing you don't need.
- Many plans include an annual wellness benefit at little or no charge to you.
- The chance to put more money in YOUR pocket rather than the carriers pocket.
Why don't health insurance companies promote Bare Bones health insurance?
- Because profit margins are thin on Bare Bones plans.
- Health insurance companies would prefer you buy the high mark up plans.
How do I find a Bare Bones health insurance plan?
- Bare Bones plans are available through all health insurance companies, but you will probably never find them unless you look hard enough.
If you want to learn more about Bare Bones Health Insurance, and start putting more money in YOUR pocket, call me.