No medical insurance
Nearly 16% of Americans do no t have a medical insurance. no t that people without a medical insurance cannot afford it, but they never felt the necessity of it. But health insurance can be a very important tool in the time of crisis, or rather avoid bigger things to happen. Many people avoid consulting a doctor because of further expenses that can occur. But a medical insurance can be a friendly tool in hand to cover most of the expenses as well as further damage of health.
The medical insurance is meant to cover variety of expenses. Just check the policy before going for it. But broadly, these are the expenses that a medical insurance is supposed to cover.
Physicians bill, hospital bill, surgery, prescription drug, laboratory charges, mental health, dental care, vision care.
First of all try to pen down whether you would go for a individual insurance or a policy where the entire family is covered. Then try and see what all charges come under the policy. Then figure out which one is more econo mical as well as suitable and then go for it.
There are different kinds of policies some of them are listed below.
1) Individual health insurance : Is often used by people who do not have the option of group coverage. This kind of policy goes a little costlier than the other policies where group of people are covered under one policy, but of course the risk is minimal.
2) Group health insurance : This is much more affordable type of insurance. But most of the members must pay their premium else for rest of them it can get difficult. So the risk is equally distributed amongst all the members. So it is generally seen that the entire member do pay their premium.
3) Group health insurance from a no n employer group: For those who have no policy covered through work or an organization, this is a very econo mical option to consider. They can be obtained by church groups, or professional business associations like chamber of commerce.
4) Student health insurance : Is insurance covered just for a minimum period of time generally offered by universities or educational institutions. You could get these kind of insurance through private parties also.
5) If you really can't fit yourself into any of these options then federal government has ano ther option. It is called consolidated omnibus budget reconciliation actor COBRA.
It is always important to maintain continuous coverage. There are different types of coverage's they are:
1) Fee for service: the traditional health service that reimburses you or a portion of all the medical expenses that you have gone through, while you where in the policy period.
2) Health maintenance organisation: this type gives you coverage if you use the doctors who are under their panel. If you go to any other doctor you pay out of your pocket.
3) Proffered provider organisation: under this plan you can use the doctors of their panel or any other doctor your are satisfied with.
4) Point of service: under this plan you have to have a primary doctor and always refer to him.
There are number of ways to find a cheap and best insurance plan. One best way is to join the employee's group insurance plan. Ano ther better way is to purchase High Deductible Health Plan coupled with health savings account. HSA have much lower premiums than traditional policies and they allow some good tax benefits.
It is always important to have a medical insurance. no medical insurance can leave you with lot of expenses under emergencies but before choosing a health policy try to verify about he company and learn about all the policies available and then choose the policy most suited for you.
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