The Most Important Insurance Coverage
Not everything in life goes smoothly as we always have the tendency to expect it to be. That’s why it’s necessary that we must always take care of ourselves via some kind of protections. Insurance of any kind is vital to hide up for the uncertainties that will occur in future.
However the insurance that is most important to have is the health insurance as we can afford not to have the other insurances but the absence of health insurance can prove to be fatal not only for us but also for people around us as well.
Different Types of Health Insurance
There are different types of health insurance policies person who wants to get insured can choose the policy suits them the best. The two main types of policies are
1. Free for service insurance also known as indemnity insurance. This is a traditional type of health insurance that pays the portion of each medical service. For instances are doctor’s visit and hospital stays which the insurance company will pay partial of the medical cost while you pay the remaining costs. Premiums are higher than the other policies.
2. Managed care plans also known as HMO (health management organisations) or PPO (preferred provider organisation). In this case the health insurance company has a contract with doctors and hospitals to provide you the medical service. In this type of health insurance you pay monthly premiums and a small amount per visit called co pay. You can use the advice of other doctors as well by paying a higher amount of co pay.
The Best Way To Get Health Insurance
The best way to go in for the health insurance is through a broker or we called it agent. You can choose your broker depending upon your requirements. A broker can get you a good health insurance policy as well as give you information on several key features of the policy in general. Like:
- What is the monthly premium?
- Is the policy guaranteed renewable/non cancelable or just guaranteed renewable?
- Are premium rates based on age of attaining the policy or using the features of policy?
- Does the plan pay for catastrophic medical costs?
You will have the answers to all or any the queries f if you are taking the assistance of the brokers in purchasing your insurance policies.
The insurance companies provide you with different deductibles with larger the deductible the lower the monthly instalments. You’ll be able to opt for a deductible of fifty to eightieth. and it all depends on your conditions.
Individuals with pre existing conditions for example, they may have some health problem s before looking to purchase health insurance. In this case, they may find it difficult to get health insurance coverage. However depending on your state you can choose any of the following policies. They are: open enrolment, health insurance provability and accountability act (HIPAA), high risk pools or temporary coverage.
Life is uncertain that is why it is essential that we have insurances with us and every member of our family to live life with a reasonable amount of certainty. Also health insurance has plenty of features which help us in times that we feel a little vulnerable. So it is highly important that we go for a policy of health insurance.
How To Choose A Health Insurance Company ?
It’s a simple fact that even some very good health insurance companies lack a few of the following 5 things. You must be a ‘choosy’ health insurance buyer and make sure that the health insurance company that you selected receives a passing grade in all 5 of these areas or must have good reputations:
1. Large, Stable Networks [If you have never heard of them before then it could be that your doctor never has either].
2. Excellent Customer Service [This should go without saying].
3. Comprehensive Policies [No Annual Caps or Limits – no indemnity policies or health discount plans unless all other alternatives are exhausted; TIP: Simply look up Discount Health Plan Warning in any major search engine and take a look].
4. Competitive Pricing [There is very strong competition amongst the “Big 3” that many other companies could have trouble competing with unless they give up ground on 1 or more of these other 4 things].
5. Claims-Paying Ability [Financial Strength] When it comes to being fully prepared why does it make sense to depend on one of the “Big 3” health insurance companies: United Healthcare, Aetna, or Humana? Aren’t there some other good companies out there?
The answer is, “Yes, there are many good health insurance companies out there with great people working for them.” However, in all practicality almost all people will find the best policy from one of the “Big 3” health insurance companies: United Healthcare, Aetna, or Humana. The “Big 3” are all very strong in each of these 5 areas.
Again, there are many other good companies out there but a health insurance company must be strong in each of these 5 areas to truly be a health insurance company that your family can depend on for years to come.