No doubt about it. Medical costs are continually spiraling upward. Many people in America and elsewhere are finding the cost of health insurance out of reach, but they also realize that having no insurance coverage is not an option, since even a brief illness or hospitalization can mean a mountain of debt. Is the answer cheap health insurance? Does it really exist?

The cost of health insurance ranges widely depending upon the type of coverage, options selected and coverage limitations. Obviously then, there is affordable insurance but cheap health insurance may prove to be costly to the insured in the end.

If you are employed and fortunate enough to be covered by the employer’s group health policy, some portion of the premiums will be paid for you by the company. This might be considered cheap health insurance by virtue of the fact that you and your family will receive excellent coverage at a low price, but it’s actually a perk from your job. However if you can’t get into a health plan at your company, the option is to purchase an individual or family plan from any of a large number of insurance companies.

The best piece of advice anyone can give you is to consult an experienced insurance agent rather than to go it alone. Insurance coverage is a complex matter for the inexperienced and it will be easy to misunderstand the complicated terminologies that the companies use in descriptions of their coverage, limitations and exclusions. Never forget the prime directive: the cheapest premium is not always the best choice. A reputable agent knows this and will work closely with you to select the proper coverage.

Plans with the most comprehensive coverage can be loaded with loopholes. They may have coverage limits (maximums); exclusions including prior conditions; requirements that you use specified plan hospitals and physicians. Moreover, they may make prescription drug coverage, dental care and optical needs costly extras.

Finally, you and your wife may have to decide whether it makes better financial sense to carry individual policies or to purchase a family policy that covers both of you and your children. Again, these are decisions that a good agent will help you make. There’s really a lot to know about this subject. What represents cheap health insurance is strictly a matter of opinion. So aim for affordable insurance instead. It makes much better sense.