Category >> Health >> Health Insurance Primer for Americans Part One
Health Insurance Primer for Americans Part One

Health insurance gives you tremendous peace of mind; invariably as we age problems crop up, creaking knees, shaking teeth, poor eyes, asthma, etc. If we have started out early with a medical insurance plan then we can sit back and experience the benefits.

Perhaps of all the different types of insurances available health insurance is the one with the greatest chance of being claimed. Of course, you don’t plan on falling sick but it invariably happens and if something major strikes you need to have your financial defenses ready and the best way to do it is to be insured for a contingency.

The challenge is to select the right type of policy, one that not only protects you financially when the need arises but offers maximum coverage for the amount of premium that you’re paying.

The two major types of health care insurances are traditional and managed health care. Traditional care lets you select your health care provider and when you avail their service; the insurer will pay as per the agreement. In a managed care system you do not have complete freedom of choice regarding a medical practitioner but here you pay less for the services you avail. 

A Health Maintenance Organization (HMO) plan is one in which you pay a predecided amount or sometimes a co-payment for doctor visits and prescription drugs. You will have to choose from an HMO network of medical practitioners and even pharmacies.

An Exclusive Provider Organization (EPO) insurance deal is similar to HMO; in this you can use the contracted hospitals or providers to benefit from the numerous plans.

Preferred Provider Organizations (PPO) are another variant found in managed health care. In this the patient can select from a pool of medical care providers, they pay less in co-insurance and the doctor who has slashed his fees gets more patients.

Traditional healthcare comprises basic medical insurance in which the insurer pays for expenses such as lab tests, operating room use, and care after surgery. The amount to be paid by the insurance company is usually decided according to customary and fair charges. You should compare premium rates to see if you’re getting the best possible coverage for the given rates.

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