We all are in a rush and not having enough time to give us a healthy lifestyle, Health Insurance Plan to meet everyone’s healthcare needs. Research says most of us are coping with health issues; however it can vary slightly between men, women, kids and old age despite health insurance plan give coverage to all.
Health Insurance is not the key factor that you won’t ill in spite of health insurance would help you to pay for your medical expenses, whether you ought it through private purchasing insurance or welfare programs funded by government or through your employer they all include health coverage, health benefits and healthcare.
Factors that Drive Categories in Health Insurance
Health Insurance is affected by many categories such as:
Age Group – It consist of different age group and accordingly premium and coverage of medical treatments by health insurance providers depends on their policies.
- Minors (1 Month to 20 Years)
- Adults (20 Years to 60 Years)
- Old Age (60 Years and above)
Individual Insurance – It consists of per individual health plans need that provides the coverage for the single person.
Family Insurance – You can plan to cover your family persons too when you look for the health insurance, here you can consider your parents, spouse and children to avail the benefits of health insurance premium.
In Health Insurance Plan The Coverage Provided Are Listed Below
These are the benefits must cover by the health insurance provider in the health care benefits:
- Medicines Expenses
- Physical Examine
- Lab Test & Reports
- Dental Care
- Vision Care
- Pregnancy and Infant Care
- Wellness Care
These are the essential health benefits that work as a baseline for all plans in health insurance services.
Health Insurance plans to gear up with many benefits, they provide coverage for health issues, medical as well tax saver depending on the type of coverage in health insurance plan, either the insurer pays directly to caregivers or the insured pay cost first and then gets the reimbursement.
In the United States, employers commonly provide health insurance in the benefits section as part of an employment package.
Terms in Health Insurance You Should Aware
Premiums – The amount you pay to your health insurance provider to buy coverage for your medical expenses.
Pays Cost Out of Pocket – The Insured pays costs out of pocket and is then reimbursed.
Deductible – Before to claims for your medical expenses to your health insurance provider company, you’ll have to pay by own the annual amount for the service.
Coinsurance – In coinsurance, the health insurance provider will pay his own percentage while you reach your deductible payout for the medical expenses.
However, at the time of emergency, the level of treatment significantly depends on the type of health insurance that the person carried.
Types of health insurance as equivalent significant to coverage and premium consider in health plans.
These Are Some Types of Health Insurance Plan You Can Look Out
Private Health Insurance – The CDC (Centers for Disease Control and Prevention) report claims that private health insurance is most preferred by healthcare system in the U.S., In the National Health Interview Survey, research presented the fact that 65 percent of people under the age of 65 years prefer the private health insurance plan in the U.S.
Public or Government Health Insurance – For healthcare premium exchange in public or government health insurance, the state subsidizes it.
HMO – Health Maintenance Organization have low premiums and more affordable than other insurance plans. HMO is a network of hospitals, caregivers and doctors you choose in order to get coverage, it’s a limited network provider so they issue a referral when you ever require of a specialist to visit.
Why You Should Get HMO – If you are looking for high coverage with low premium cost and don’t wish to pay high out of your pockets.
Why you should not go for HMO – HMO has a limited network of its caregivers not all caregivers are the under the coverage of HMO Plan, so for more flexibility to visit specialists, caregivers and their network you might not go for HMO.
PPO – Preferred Provider Organizations, it’s kind of an indemnity plan, in that the insurance holder can visit any doctor he willing to go, they allow the insured to visit any caregivers they prefer, PPO has a network of approved providers on negotiable costs.
Approximately most of Americans have PPO plans enrolled by their employers with insurance health plans, PPO provides you to get care from within the network and out of network care and you do not need to get any referrals to visit a specialist for your primary care, it has a big network.
However, the premium of PPO plans is much higher than others nevertheless you’ll have the freedom to choose any doctor in PPO plans.
Why You Should Get PPO – Much flexibility or full freedom to choose any specialist out of the very large network in PPO plan, not have to look out for a referral to visit doctors for treatment.
You Should Not Go for PPO – PPO consists the high premium cost than other health insurance plans so that the cost you have to pay to get insurance in PPO would like an additional burden on your pocket and somehow it can be double of your premium.
HDHP – High Deductible Health Plan usually cost less than other health plans it has low premiums, however, you might pay more when you use healthcare, as the name HDHP refer the term of high deductibles and feature a health savings account (HSA) which is a pre-tax account to pay for your medical expenses that means any funds you are putting into an HSA are exempt from federal income taxes and can be used toward your out-of-pocket medical costs.
Why You Should Get HDHP – Usually low premium cost than other health insurance plans.
Why You Should Not Go For HDHP – High deductible amount, that means before to get your insurer help to pay you, you would have to pay out of your pocket.