By Alden Smith
Medical Discount Plans - Dental Discount Plans - Prescription Discount Plans - Patient Assistance Programs - Health Savings Accounts
Medical discount plans are for people who do not have medical coverage, and are seeking an alternative to help ease the cost of health care. Medical discount plans are not insurance coverage, but an alternative to the high cost of medicine. Care providers participating in a discount plan have agreed to take a reduction in fees for subscribers to the plan. No claim forms are filed when using this type of plan.Many of the mainstream health insurance plans offer discount cards for such things that are not covered in the basic plan, such as dental, prescription drugs and vision coverage. Medicare is an example of this, with their prescription drug discount cards available for senior citizens. And there are also a large group of stand alone companies built entirely around the medical discount plan.
If you determine that a medical discount plan is right for you, it is important to do your own due diligence on any plan you might consider buying. Through research, the author has found many warnings on fraudulent scams run by companies offering these plans. There are a host of things to look for to help in deciding if such a plan will meet your needs:
1. Does the card issuing company give you a list of the providers that will perform these services for you? Are they willing to promptly provide you with this list if asked? If not, consider taking your business elsewhere. If the company does give you this list upon request, call the listed providers and verify with them exactly what the plan entails and how much of a discount you may be getting. It makes no sense to pay $500 for a medical discount plan only to turn around and discover you are saving only$200 in services provided.
2. Read through the plan carefully, paying extra attention to the fine print. Pay close attention to a refund policy. Be wary of any plan that does not give you information on the plan, and answer any questions you may have regarding benefits. If no contact phone number or website is listed in the offering, it would be appropriate to look elsewhere. Call the administrator of the plan with any questions you may have. It is a safe bet that if the administrator is vague or unwilling to review your concerns and answer any pertinent questions, then the plan is probably not on the up and up.
3. If your family doctor or dentist is not listed as a participant in the plan, check with other doctors and dentists in the area to see if they will accept the plan and give the actual discount as outlined by the people who are promoting the plan. Some very good plans will offer a "initial consultation" visit with these providers. This gives you an opportunity to see if the selected provider meets your needs, and is one you are comfortable doing business with.
4. Common sense dictates that you always do the math and determine if the savings are actually that - is it saving you money for doctor visits and trips to the dentist after you consider the initial cost of the plan? As stated earlier, it makes little sense to pay $500 for a plan that will only save you $200. What may sound like a good deal to you may end up costing you money in the long run. Consider also negotiating with care providers in your area for a discount similar to the one being offered by the plan. It costs nothing to ask.
If there is any doubt in your mind about a certain plan, then it is wise to use your own best judgment as to participation. Research on the Internet showed more than 15 viable medical discount plans for the author's area code alone. Although pricing and medical information goes beyond the scope of this article, be aware that there are many good discount medical plans available today. And remember, it is your responsibility to always insure that you fully investigate any discount plans or program before enrolling or making any decisions about your health coverage. Further information can be found on the Federal Trade Commission website, or, better yet, call the local Better Business Bureau in your area if you have any doubts about a particular plan.
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