Even though more and more people are realizing that they need health insurance many are apprehensive about getting a health insurance plan for them. This is because there are too many choices that leads to confusion as to which plan will serve the health needs of them and their family. By learning some basics about health insurance, one can easily get a health insurance plan that is right for their needs.Most of the health insurance plans are got by going through the employer. These days most companies provide health insurance to its employees through a group plan. As most of the employees will be covered through a group, the premium for health insurance comes down. Many of these plans are designed not only to cover the employee but also the family members of the employee. Although this increases the premium paid out, the plan covers the entire family thereby increasing the benefits of the plan. To go by this route through the employer, one needs to check with the department of human resources in the company and check the policy of the company towards health insurance. Every employee should be able to begin an individual health insurance plan through the group scheme at any point of time during the tenure with the company.If you are in between jobs and were previously covered by your employer in the earlier job, the COBRA law entitles you health insurance coverage continued from the coverage you had on the earlier job. This law is passed by the government to protect your health interests and will provide you health insurance although the premium might be increased from what it was earlier. If the insurance coverage was extended to the entire family, the law will permit the continuance of the full coverage for a particular period.However, there are many millions of people in America who are not covered through a group health plan provided by an employer. For such people, the insurance companies offer individual plans. The people under this are mostly those who are self-employed or people who are not provide with health insurance by the employer or those who do not qualify for aid from the government health insurance like Medicaid or Medicare. However, these individual plans are dearer in comparison to the premium paid in the group insurance plans. These plans can also cover other family members by paying extra premium. Getting an individual plan is quite easy as most of the insurance companies provide these plans. One can search through the internet also for more information on these plans. Some sites might help you get a comparison in terms of pricing and other details between various plans.Another avenue that needs to be remembered is federal health aid. People above 65 years or those with some kind of disabilities as mentioned in the guidelines of the government can apply for Medicare. Income based insurance program provided by the government is Medicaid. One must remember that health insurance is very important and whatever avenue is chosen to achieve this is not important. The only thing is that to get the maximum benefit at the lowest costs one should properly research and find the best options one has towards getting health insurance.
What Are Some Drawbacks to Buying Insufficient Health Insurance?Health insurance is necessary in order for people to afford health care. However, some people do not know anything about health insurance, which could lead to trouble when they are negotiating their policy with an insurance agent. There is a possibility of them endangering their health and finances, as well as not finding the right doctor in a participating health network.People do not have to research health insurance the moment they receive their first quote from an agent. Instead, consumers should ask the right questions about their insurance coverage and follow these guidelines to receive the best coverage and service from insurance agents.Know the difference between Indemnity Care and Managed CareIndemnity Care allows patients to select their own hospital, physician and other care providers and services. With indemnity care, patients are reimbursed up to a percentage or maximum amount of medical costs.However, managed care allows insurance companies to arrange doctors, hospitals and health care providers and services to patients. This is usually organized under three plans of patients’ choosing:” Health Maintenance Organization (HMO)
” Preferred Provider Organization (PPO)
” Point of Service (POS)Know What The Insurer Is Responsible In PayingThere are four major expenses insurers cover:” Physician Expense Insurance – Covers the expense of doctor or hospital visits.
” Hospital Expense Insurance – Covers the expense of hospitalization.
” Surgical Expense Insurance – Covers the expense of surgery.
” Major Medical Insurance – Protects losses from serious injury or great illness.As part of the policy, patients are responsible for:” Deductible – The cost a patient pays after service before the insurance company pays. Higher deductibles mean lower premiums and vice-versa
” Co-Payment – The cost required upon doctor or health care provider visits
” Coinsurance – The percentage of a medical bill required by the patient to pay after the applicable deductible.Consumers should know that insurance agents should suggest additional health insurance coverage. These types of benefits include insurance on the following:” Prescriptive drugs
” Maternity care
” Mental health
” Preventive careMore Advice About Health InsuranceConsumers should follow this guide for better health insurance and in finding the right health insurance agent. Normally, insurance companies should be able to tell them more than what is mentioned by this guide. However, it is a good idea for consumers to shop at different insurance agencies for the best coverage at affordable rates. Still, a health insurance agent can help them further if they ask them to.
Generally, large corporate organizations provide medical facilities to their employees the Employee Health Insurance Scheme. However, certain small scale companies may dot provide such facilities. These are left without a medical coverage. Such people can opt for a Major Medical Health Insurance scheme.What does a Major Medical Health Insurance Cover?A MM Health Insurance provides cover to the members in a family against major illness. All the expenses, right from the diagnosis of the disease to its treatment are covered. There is a maximum limit for the amount to be covered.The MM Health Insurance is beneficial for people who are suffering from a serious disease. The premium of the Major Medical Health Insurance is generally highThings to Consider!!The following points must be borne in mind before opting for a Major Medical Health Insurance plan:Deductible: The amount of money that is to be borne by the insured is called Deductibles. This amount is to be paid before the insurance company starts covering the expenses. The amount of Deductibles will vary from individual to individual. Generally, higher the deductible, lower the premium and vice versa.Co insurance: Here, the insured agrees to pay a definite percentage of the expenses before the insurance company starts covering. The insured has to enter into a written agreement with the insurance company.Co payment: The insured pays a fixed amount of money before the medical expense is covered by the insurance company.The insured has to choose between co-payment and co insurance in addition to the deductibles to get a Major Medical Health Insurance.Ways to get a Major Medical Health Insurance planYou can become a part of The MM Health Insurance plans either through a group, a HMO or a PPO.Health Maintenance Organizations plan: A general HMO physician examines the insured and decides upon the future course of action. In a HMO plan, expenses are covered only when the consulted physicians are a part of the HMO.A Preferred Private Organization plan: unlike HMO, the insured can consult a doctor not belonging to the PPO. However, the reimbursements would be less when a non PPO doctor is consulted.It is advisable that while selecting a MM Health Insurance all the pre requisites should be understood fully the insured. Read the policy documents well in advance. Generally, a ten day period is kept as a benchmark, within which an insured can cancel a Major Medical Health Insurance plan.Securing a Major Medical Health Insurance via membership organizations could result in a low premium rate, as these organizations get concessions.Finally, before choosing a MM health insurance plan, compare the policies and premiums offered by various insurance companies. Many Americans are not avid readers, but the policies should be read minutely.