Everything about Health Insurance plans and coverage

October 9, 2010 by  
Filed under Health Insurance

There are several health insurance plans you can choose from when it comes to covering your health risks. You should not rush and choose the first one proposed by the health insurance company. A good decision in this domain needs to be weighed. Therefore, you should think about all the possibilities before choosing your health insurance plan. Affordability is an important factor because you can’t choose a health insurance plan you can’t afford.
The health insurance is similar to other types of insurance. This means that eventually you get what you pay for. You have to pay a monthly sum of money which is called a premium. The premium depends on many factors but the most important factor is the coverage. If you want to be covered for all possible health issues you may encounter, chances are you will have to pay a large premium.
However, if your coverage will be smaller, the amount of money paid monthly to your insurance company will be smaller. The services included in the health insurance plan depend on the type of plan you choose.
Below you will find the main health insurance plan types:
Health Maintenance Organizations
HMO is the first type of health insurance plan. This is a cheaper type of plan where you need to pay a small amount of co-payment. A HMO plan will cost you a few hundred dollars a month but it is less expensive than a traditional health insurance plan so many choose it.
You should opt for a primary care physician when choosing this health plan. This is because your medical care will be arranged through him. If you want to see a specialist about a problem, all you need to do is ask for a reference from your primary care physician.
Preferred Health Insurance Plans
Preferred health insurance plans are just about the same with HMOs. This is because they are also affordable for the big majority of people. The main difference between this plan and HMO is that you can consult any physician from the agreed list and not just one. You will have to pay co-payment and the insurance company will cover the rest of the expenses.
Other Health Insurance Plans
Other health insurance plans may be the cheapest ones but they may also be the catastrophic ones especially in the long term. For example, you may choose to be covered only for injury and illness. This would be a wrong decision in the long run as you will not be covered for office visits and checkups.
So, these plans are bad for your health and for your pocket too even if they are less expensive.

There are several health insurance plans you can choose from when it comes to covering your health risks. You should not rush and choose the first one proposed by the health insurance company. A good decision in this domain needs to be weighed. Therefore, you should think about all the possibilities before choosing your health insurance plan. Affordability is an important factor because you can’t choose a health insurance plan you can’t afford.
The health insurance is similar to other types of insurance. This means that eventually you get what you pay for. You have to pay a monthly sum of money which is called a premium. The premium depends on many factors but the most important factor is the coverage. If you want to be covered for all possible health issues you may encounter, chances are you will have to pay a large premium.
However, if your coverage will be smaller, the amount of money paid monthly to your insurance company will be smaller. The services included in the health insurance plan depend on the type of plan you choose.
Below you will find the main health insurance plan types:
Health Maintenance Organizations
HMO is the first type of health insurance plan. This is a cheaper type of plan where you need to pay a small amount of co-payment. A HMO plan will cost you a few hundred dollars a month but it is less expensive than a traditional health insurance plan so many choose it.
You should opt for a primary care physician when choosing this health plan. This is because your medical care will be arranged through him. If you want to see a specialist about a problem, all you need to do is ask for a reference from your primary care physician.
Preferred Health Insurance Plans
Preferred health insurance plans are just about the same with HMOs. This is because they are also affordable for the big majority of people. The main difference between this plan and HMO is that you can consult any physician from the agreed list and not just one. You will have to pay co-payment and the insurance company will cover the rest of the expenses.
Other Health Insurance Plans
Other health insurance plans may be the cheapest ones but they may also be the catastrophic ones especially in the long term. For example, you may choose to be covered only for injury and illness. This would be a wrong decision in the long run as you will not be covered for office visits and checkups.
So, these plans are bad for your health and for your pocket too even if they are less expensive.

Comments

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!