An Introduction To Health Insurance Plans

Some people do not recognize the importance of getting a health insurance plan until they see the spiraling costs of medical bills when they or a family member become ill or seriously injured in an accident. Getting a health insurance plan is more of a necessity in today s world rather than luxury. This gives you peace of mind and prepares you for any financial crisis that comes due to a deteriorating health condition. But with the existence of so many online companies now offering different health insurance plans, it is rather difficult to choose one that is right for you. So here are the different types of health insurance that will help pinpoint the needs that might define your health benefits. Health insurance plans are either indemnity or fee-for-service plans or managed care plans. These two types vary greatly on the choice of providers, out-of-pocket costs for covered services, and how bills are paid. In indemnity plans, there are more choices of doctors including specialists and other health care providers. They pay the share of costs of service after the bill is received. While in managed care plans, there are agreements with certain doctors, hospitals and health care providers to give a range of services to the plan holders at reduced cost. The advantage of these over the indemnity plans is that you will have less paperwork and lower out-of-pocket expenses. Aside from these two types of health insurance plans, there are three types under the managed care plans. These include the PPOs, HMOs, and POS plans. PPO or Preferred Provider Organization combines elements of indemnity and managed care plans because you choose doctors who belong to the PPO network when you need health care. The advantage is you pay less when you use the networks preferred providers. The HMO or the Health Maintenance Organization requires you to pay a small, set co-payment when you choose the HMO doctors. But if you go to the doctors who are not in HMO, you have to pay the full cost of the care. And lastly, the POS or Point-of-Service is an indemnity-type option offered by the HMO. This adds an out-if-network benefit to HMOs, however, here you have the option of going outside the HMO network. These are the different types of health insurance plans. Although the choices may be broad, there is one that will certainly meet your needs and preferences. All you have to do is to do an extensive research and compare health insurance quotes in order to come up with a wise decision. Health Insurance Quotes provides detailed information on Health Insurance, Health Insurance Quotes, Affordable Health Insurance, Health Insurance Plans and more. Health Insurance Quotes is affiliated with Health Insurance Company Ratings.



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