Gift Your Loved Ones a Healthy Life with Health Insurance Plans!
What Is Health Insurance? Basically, health insurance is a contract between the insurance provider and the policyholder where the policyholder pays a fixed premium every month and the insurance provider promises to take care of any medical or surgical expenses if they or their loved ones fall ill or meet an accident. Why Should You have a Health Insurance? Having a health insurance can help you and your loved ones get a cover for: • Medical expenses • Surgical expenses • Pre- and post-hospitalization expenses • Outdoor treatment expenses • Rehabilitation expenses Types of Health Insurance There are a number of health insurance policies you can choose from including: • Individual Health Insurance • Group Health Insurance • Medicare Health Insurance • Medicaid Health Insurance • COBRA Insurance Individual Health Insurance An individual insurance plan enables an insured to choose a plan by themselves and allows to customize it to receive the desired coverage at the preferred price. These types of insurance plans are a great fit to self-employed, employees who didn’t receive an insurance plan for their employer or who want to buy a specifically customized insurance plan for themselves or their loved ones. Group Health Insurance These insurance plans are provided to a group of people together and hence are named a group health insurance plan. Usually, these plans are provided by an employer to their employees or by a healthcare provider to patients in a group. These insurance plans come with a comparatively cheaper premium than the individual insurance plans. Types of Group Health Insurance Under the group insurance, you’ve got to choose among a number of insurance plans. Here are they: • Preferred Provider Organization (PPO) • Health Maintenance Organization (HMO) • Health Savings Account (HSA) • Point of Service (POS) • Exclusive Provider Organization (EPO) • Indemnity Plans Preferred Provider Organization (PPO) Under the PPO or Preferred Provider Organization, you can get the treatment from a network of specific doctors and hospitals. If you fall ill and get admitted to any doctor or healthcare center of their network, they will provide you the treatment at pretty marginal prices. Usually, a PPO has a huge network of reputed doctors and hospitals in the area. Health Maintenance Organization (HMO) HMO or Health Maintenance Organization provides you a comparatively cheaper treatment option, but your choice of doctors and hospitals is limited. The premiums are low, but you need to consult the specific doctors or hospitals mentioned in the insurance policy. If you consult a doctor or hospital, you will have to pay yourself and might not receive the reimbursement for the same. Health Savings Account (HSA) A Health Savings Account (HSA) plan lets you choose when, what and how much to pay for the healthcare you receive. These are the affordable plans that come with a lower-deductible option. Up to a set limit, you can choose to pay the premiums before taxes and the utilize the unused funds to take care of your unplanned expenses. Point of Service (POS) Under a Point of Service (POS), you get more flexibility while choosing the doctors and hospitals. These insurance providers have a wide network trusted and well-known doctors as well as hospitals in the city. Also, you can get the treatment from the doctors or hospitals outside the network, a fair portion of your expenses will be covered by the insurance provider. Exclusive Provider Organization (EPO) Exclusive Provider Organization (EPO) plans are a lot like the Health Maintenance Organization plan that allows you to get the treatment from a huge network of physicians and hospitals. Moreover, the offered policy also allows consulting a doctor or hospitals outside the network, in the case of emergency. These plans provide a lower rate if you want to limit your physician choices. Indemnity Plans Indemnity Plans are also known as Fee-for-Service plans as they provide cover for a specific percentage of the treatment expenses of the policyholder. The policyholder will have to pay for rest of the expenses themselves and will be responsible for co-insurance and deductible amounts. Usually, the insured has to pay for medical and surgical expenses and file a claim for reimbursement later. Medicare Health Insurance Medicare is a popular cheap health insurance program, provided by the federal Govt. to the people who’ve aged over 65 or born with disabilities. Such people can get medical treatment for the whole year by paying a very nominal premium every month. Under a Medicare Advantage Plan, you get a cover for most of the life-threatening diseases as well as few exceptionally expensive prescription drugs. Medicaid Health Insurance Medicaid health insurance is designed by the US federal Govt to help low-income families and provides health insurance for children, adults, as well as a person with disabilities. If you are earning a family income less than $30,000 per year, you may be eligible to receive a Medicaid plan. The offered plan also covers pregnant women along with their kid-to-be-coming into this world. COBRA Insurance COBRA Insurance is designed to provide a temporary insurance coverage to the employees recently laid off from their organization. The offered plan also helps to retain the employer-sponsored benefits such as office car and other benefits. Also, if your working hours have been reduced restricting you to receive an employer-sponsored health insurance plan, you may utilize COBRA to receive a temporary cover. Coverage Percentage Insured or their beneficiary can get a cover depending on their plan: Cashless Plan: All treatment expenses are paid by the insurance provider. Regular Plan: A desired portion of expenses is covered as per the plan opted. Claim Settlement policy Insured or their beneficiary can make a claim in the following two ways: Instant Claim: Insurance provider gets informed within the 24 hours of the incident and instantly approves the claim made by the hospital. Reimbursement Option: The insured has to pay first and then file a claim for reimbursement. Exclusions in Health Insurance Insurance policies have excluded some specific incidents from their accidents benefits list that are: • Suicide, attempt to suicide or intentionally caused injury • Pre-existing illness • Criminal or unlawful act • Permanent exclusions • Injuries due to racing vehicles Get Insurance at Best prices! Optinsure has been providing cheap health insurance quotes from multiple insurers and helping to compare them with their benefits. Contact us to avail top health insurance quotes easily and choose a cheap life insurance plan as per your requirements. Website: www.optinsure.com Tel: 1 (855) 894-1863 Email: quote@optinsure.com
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