Health insurance plans vary in their coverage and prices. The more coverage offered, the higher the premiums. This doesn't mean that the lowest premium is the cheapest. If you have to pay many out-of-pocket medical expenses, you could be paying more than if you had gone with a higher premium plan. Different plans benefit different people.
Fee For Service
Fee-for-service health insurance policies are the most common. You pay the medical bill and then you are reimbursed by the health insurance provider. You will also typically have co-pays and deductibles.
Prices range widely with these types of policies - the higher the co-pays and deductibles, the lower the monthly premiums.
The benefits of this type of insurance are that you get to choose which doctor to see and when to get immediate needed care. However, these types of plans do not typically cover preventative care like routine check-ups or tests.
Managed Health Care
Another option is a managed health care which typically has lower insurance premiums. A managed health care system could be an HMO or a Preferred Provider Organization or a variation of these. The common element is that you have to use approved physicians and dentists.
With these types of plans cost is one of the chief benefits. You get the most coverage with the lowest premiums. Coverage also includes most preventative check-ups and procedures. Unfortunately, you do not get to choose a physician outside of the network.
Catastrophic Insurance
Catastrophic insurance is for the big emergencies like hospitalization for several days. These plans typically have the lowest coverage, but they do not cover non-emergency care.
With its low premiums, this plan is ideal for someone who can cover their own typical medical expenses, but wants to protect themselves financially from an unexpected emergency.
Provider Differences
Health insurance providers have their own version of these health insurance plans. Coverage levels, deductibles, and co-pays all vary, along with the cost of monthly premiums. In order to find the best provider, research different health insurance policies. Health insurance websites allow you to compare costs along with coverage. Also, find providers that can be easily contacted through their website or on the phone.
To view our list of recommended companies online that provide health
insurance and can help you compare quotes, visit this page: Recommended Insurance Companies Online.
Carrie Reeder is the owner of ezerk, an
informational website with articles and information about various topics.
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