|
Accounting
Education
Finance
Humor
Leadership
Legal
Management
Marketing
Motivation
Office
Planning
Regulation
Start Up
Technology
Travel
Reference Desk
|
Health Insurance Information Guide
By Mansi Aggarwal
What is more in important than
your health? Good health is one of the most precious assets you can have.
Thus it is important, even mandatory to insure and secure your greatest
asset against all types of threats.
|
|
Health insurance is a policy
that will pay a fixed amount of money for medical expenses and
treatments.
Health insurance is basically a way to ensure protection against
sickness or injury. Health insurance includes various types of
insurance such as accident insurance, disability income insurance,
medical expense insurance, and accidental death and dismemberment
insurance.
Health insurance is your best friend in hours of need. It is a great
support to your family when faced with large medical bills there is
immense expenditure on the recovery of the person concerned. |
Based on the needs and
requirements of people there are different kinds of health insurance
policies available-
- Fee-for-Service Plans- is that where the insurance companies pay fees
for the services offered to the insured people. The insurer only pays for
part of your doctor and hospital bills and pays monthly fee called
premium. Before the insurance payments begin, a specified amount of money
in the form of deductibles is to be paid. After paying the deductible for
the year you share the bill with the insurance company and then your part
is known as ‘coinsurance’. Fee-for-service comes in two ways- Basic
protection and Major medical.
- Health Maintenance Organizations- these organizations are prepaid health
plans. HMO members pay a monthly premium in return of which the HMOs
provide complete care to you and your family. This also includes the
visits of doctors, hospital stays, emergency care, surgery, lab tests,
x-rays and other therapies.
- POS plan- many HMOs offer an indemnity-type of option known as a POS
plan. Those who opt for POS plan can refer to doctors and medical
assistance outside the plan and still get some coverage. If a doctor makes
a referral out of the network, the plan pays all or most of the bill.
- PPO- Preferred Provider Organization- is basically a combination of
fee-for-service and an HMO. As in HMO plan, in PPO too the options are
confined to a set of doctors and hospitals. Medical expenses are covered
by the PPO only when the insured person resorts to the preferred or
network providers.
- EPO- Exclusive Provider Organization- is akin to HMO except that it is
regulated by the California Department of Insurance and generally pays
physicians and other health care providers differently. EPOs will meet
your expenditure only if the physician you opt for is within EPO’s
network. However exigency situations can be considered as exceptions.
Prior to opting for a plan it is better to ponder over your needs and
family requirements. You may even want to use the checklist of the agency
through which you are purchasing the policy and ask for more information
from the health benefits manager at your workplace or a health plan
representative. You can also seek advice from your physician who is
already familiar with all health plans and your medical history.
Mansi Aggarwal recommends that you visit
Health Insurance Info for more
information.
Article Source: http://EzineArticles.com/?expert=Mansi_Aggarwal
Health Insurance Guide Article
Copyright Evergreen Publishing
Contact: admin @ topbusinessresources . com |