Options For Affordable Individual Health Insurance

admin — Wed, 14 Apr 2010 10:51:50 +0000

Health insurances are advantageous but not everyone has the ability to pay for one. In the United States alone, it is estimated that there are up to 46 million Americans who are not covered by such policies. In other countries, the ratios of people with health care insurances to those without are practically higher.

Health costs are typically sky high. Consequentially, medical insurance rates are also expensive. Thus, it is not surprising that most people are opting for affordable individual health insurance products. Here are available options for such products that you could easily and instantly consider and prefer.

Health Maintenance Organizations Or HMOs

HMOs are often the cheapest of all health insurance plans. Such programs are providing health care through an extensive network of hospitals and doctors. With such plans, you are made to shoulder a small fee called a co-payment for every doctor visit. There is no need to fill out bunches of forms like you do in traditional health plans. There is also no need to carry deductibles. When you get sick, consult a primary doctor or gatekeeper, who could refer you to a particular specialist. You would not be covered by the insurance if you go to a doctor or hospital that is not part of the network.

Preferred Provider Organizations or PPOs

PPOs are usually costing slightly higher than HMOs. However, they are more popular because they offer greater flexibility. These products are also provided through a wide network of health care providers. The co-payment you make for every visit with a doctor is almost similar as that you make on HMOs. There are also no numerous forms to fill out and deductibles to be paid. You could directly see a specialist even without consulting the primary physician.

Point of Service Plans of POSs

Among the three, POSs are the costliest, but they are still considered as affordable individual health insurance products. These provide the greatest flexibility, though. POSs provide health care via a wide network of health providers. You could also take an option to see any doctor of your choice. The co-payments required when visiting doctors are almost the same level as the HMOs and the PPOs. You would be reimbursed with up to about 80% for out-of-network visits to hospitals or networks. You may opt to pay a deductible as well.

Whether you choose HMOs, PPOs, or POSs, you could be sure your medical care needs would be covered. Such affordable individual health insurance products make health insurance more accessible and reliable especially among low-income people.

By: Alan Lim

Health Insurance 101 Explained

admin — Tue, 02 Feb 2010 10:59:36 +0000

We all understand the importance of health insurance; however, as the types of health insurance continue to increase it is becoming more and more difficult to select the type of coverage that is best for you and your family. To help you find out which type of policy might benefit you the most, let’s take a look at the most common types of policies.

There is usually a lot of hype regarding HMOs so let’s look at that one first. A HMO is a health maintenance organization plan that works with a specified group of doctors and hospitals within the network. A primary healthcare physician is selected and you must obtain referrals for care that cannot be provided by that physician. The benefits of this type of plan are lower office visit costs and prescription drug co-pays. In addition, there will typically be either no or limited deductible costs for hospital stays. Depending on your coverage, there may also be no pre-existing condition cause limitations. It is also important to understand that your choice of doctors and hospitals will be limited with a HMO and you won’t be able to have out of network services covered.

A PPO or Preferred Provider Organization works similar to a HMO; however, the major difference is that you are not required to select a primary care physician. In addition to the benefit of being free to choose your own physician without worrying about a referral you also gain the benefit of limited or no deductible costs for hospital stays as well as a possible larger selection of physicians that might be available with a HMO. Out of network services may also be covered; however, for a higher charge than in network services.

A POS, or Point of Service, is also similar to a HMO in that you select a primary care physician. The difference is that you are free to choose out of network treatment if you’re willing to pay a higher out of pocket cost.
Another option is what is known as a traditional coverage policy. This type of policy will have a higher monthly premium as well as deductibles. In addition, you will generally be required to pay for services out of your own pocket up front and then submit claim reimbursement forms.

You may also wish to consider various types of disability plans, which cover a percentage of your income in the event that you experience an illness or accident that prevents you from working for a period of time. A short term disability plan will provide benefits from the first day of an accident or the eighth day of an illness up to 26 weeks. Generally, this type of plan will cover 66% of your weekly income.

Long term disability will begin after short term coverage has expired and will provide coverage for a variable term, depending on the policy you select. Some policies are limited to providing coverage up to two years while others will cover you up to the age of 65.

By: Joseph Kenny

Health Spas Guide » Hospitals

Options For Affordable Individual Health Insurance

Health Insurance 101 Explained