Health Insurance Plans Best for You

From a number of health insurance plans, you have made a right decision when you own a cost-effective insurance policy that meets your personal needs. Check out this short list for the available insurance plans that you can choose:

1. Indemnity Plan is, by far, the original and oldest from of insurance policy. However, fewer people consider this type of insurance plan because of several reasons.
Advantage - A plan holder can personally select physician and hospital of choice..
Disadvantage - Payouts for deductibles are made with the company. This usually costs about $100-1000. Receipts on medical services should be regularly submitted to the insuring company for the actual reimbursement. The company is also not responsible for paying charges made on what they don't consider "reasonable."
2. Health Maintenance Organizations (HMOs) are considered to be the least expensive but also the least flexible insurance plans.
Pros - initial payments starts at US Dollars 5-10. This will be your co-payment. Also less paperwork is required compared to that of indemnity plans which may actually be tedious to comply.
Cons- Plan holders can only choose doctors listed as network or prescribed doctors by the insurance company. Also referrals to specialists are made through the in-network doctor you choose to attend to your medical services. Lesser options are available.
3. Preferred Provider Organizations (PPOs) are relatively flexible with the a bit more cost than HMOs.
Pros - co-payments are about US Dollars 5-10. Permissions are not required for visiting in-network physicians.
Disadvantage - A plan holder can consult non-network physician and can still have reimbursements from medical services. However, once it is more than the specified cost equivalent to an in-network physician, the company will not pay for the excess.
4. Point of Service Plan costs more than PPO but it is more flexibl
Advantage - Consulting a non-network physician can be made after approval from in-network physician. The health plan is greatly more on the preventive side which include health workshops and seminars, health club discounts, and etc.
Disadvantage - A primary in-network physician will act to check on your medical services. Consent should be sought if you wish to consult non-network professionals, otherwise, you holder will be responsible to the service cost.
Before making the final decision, make sure that you can afford the health insurance plan and that it meets with your personal insurance needs. This information is just a simple guide to help you when you do the actual health insurance plan shopping online or personally. Surely, you will save great amount of effort, time, and money.
by Charles David Rogers