Where do I Start?
Finding quality affordable Low Cost Health Insurance either individual or group coverage is not an easy task. In the coming paragraphs I will do my best to inform you of the best way to research the insurance company, what type of plan that might best fit your situation and families needs and possibly who to purchase the low cost health insurance coverage that you most definitely need to protect you and your family.
First of all lets get something straight Health insurance is one type of insurance you're pretty much guaranteed to use. We all need medical attention from time to time, and some more that others. When care is needed, you want to focus on getting better not on how you're going to come up with the money to pay your medical bills. So this is why it is so important to find quality low cost coverage that will fit into your budget either it be Individual or a Group plan that you seek
What are the types of Plans?
Briefly let’s talk about a few of the more prominent types of low cost health insurance plans that may be available to you. There are basically four main types of health insurance. Traditional indemnity plans are at one end of the spectrum and health maintenance organizations (HMOs) are at the other. Preferred provider organizations (PPOs) and point-of-service plans (POS) combine features of both indemnity plans and HMOs, but are generally considered managed care plans. What this basically means is there are choices in the marketplace for you, and the distinctions between the plans grow blurred everyday. I will not go into each plan specifically here, please research and know which plan your are buying before purchasing.
Where do you get Coverage?
For the majority of Americans they receive there health coverage through their employer group plan. This truly is the best way to get low cost health insurance, because employers are able to obtain group rates and usually pay a portion of the premium. If your employer doesn’t offer the coverage, you can typically purchase a policy on your own. This allows you to pick a plan that provides you with the specific benefits you want. To purchase a policy, contact a health insurance agent or broker in your area or simply call a health insurance company. If you can’t afford coverage, you may be able to qualify for a state or federal program. The federal Medicare program provides coverage for Americans over 65 or with certain disabilities, and the joint federal-state Medicaid program provides coverage for qualifying low-income individuals. Quick recap you can buy on your own called and individual health plan, get coverage from your employer on a group basis or you may be able to financially qualify through a State or Federal program.
What you should know before buying!
If you need to make a decision between several plans that your employer offers, or are looking to buy an individual health insurance policy, you need to know what to look for before making a decision. When comparing and ready to choose a low cost health insurance coverage plan, there are couple important questions you should ask your human resources department (if it’s a group plan you’re considering) or health insurance agent. Below you will find some of the questions that will help you understand your choices and choose the plan that is best for you.
• Does the plan cover you for the specific doctor or hospital that you would like to use?
• How does the referral system work with each plan? • What pre-existing conditions would affect coverage?
• How will each plan handle care if you or a family member is away from home?
• What are each plan’s monthly premium, deductible and coinsurance and would they fit within your budget? • Are there other fees, such as copayments and out-of-network fees?
• Is there a maximum amount each plan will pay over a year or lifetime? • What types of benefits are specific to this plan?
