Health insurance policies can range in price and variety. While some companies have general health insurance plans, others have plans that are more specific. There are several to choose from, but finding the one that meets all your needs can be challenging and time consuming.
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Do you have to use a specific provider for every health insurance policy?
According to the U.S. Bureau of Labor Statistics, there are many different types of health insurance and health insurance provider arrangements. Some of these arrangements can include exclusive providers, a mixture of providers, or any provider.
People whose policies are for exclusive providers may only receive services from a list of network doctors or specialists provided by the insurance company. People whose plans offer a wider selection of providers may have to pay a little more out of pocket for those physicians who are not on the insurance policy’s list of preferred providers. There are also policies that give you plenty of flexibility and will allow you to use any provider at no extra cost to the insured.
Does more coverage in a policy mean higher premiums?
Usually you get what you pay for. In most cases, the more coverage you receive with your health insurance policy, the higher the premium.
Many make the mistake of thinking that the lower the premium, the cheaper the plan and the less coverage there is. Premiums may be low, but usually the out-of-pocket expenses are high, such as health insurance deductibles and co-payments.
Those who are young without any serious illnesses can benefit from a plan with a lower premium and higher deductible. Those who have dependents, especially those with young children might need the lower deductible and co-payments and having a policy with a higher premium may prove essential. Having a plan that meets your own individual needs and lifestyle is very important when choosing health insurance.
What are some of the different health insurance company plans?
- Managed Care: If you’re looking for a plan with a lower premium, many insurance companies offer managed health care policies. These policies utilize Health Maintenance Organization (HMO) or Preferred Provider Organization (PPO) or some kind of variation of either. With PPO health insurance or HMO health insurance plans, you have a list of doctors, specialists, and dentists that you have to use in order to receive coverage. These plans are cost effective and you get great coverage for a low premium.
- Fee for Service: One of the other, but less common, insurance policies out there is the fee for service plans. These plans require you to pay your medical bills up front and then be reimbursed by your insurance company. While these plans are not for everyone, they are great for those who want complete freedom to select a doctor. The pricing for these policies can range from high premiums with low deductibles to low premiums with high deductibles. The plans usually do not cover routine tests or checkups.
- Catastrophic: For those who can afford to cover the usual medical expenses, but still want protection from big emergency situations, there is catastrophic health insurance. This insurance is for emergencies that require hospitalization. These plans usually don’t have a large quantity of coverage and do not cover non-emergency health care. Having coverage for an emergency that requires hospitalization can provide ease of mind to those who don’t want to pay out thousands of dollars in case they suffer a catastrophic event.
- High Risk: According to the American Cancer Society, there are insurance providers that offer plans specifically for those fighting cancer. Some private health insurance companies offer plans and there are government funded insurance plans as well. There are also options if you are uninsured and have cancer along with other sources such as health insurance risk pools that are available for those in need of coverage.
There are other health insurance policies for those with specific needs. It’s best to research several health insurance providers and any specialty insurance policies. You can take out more than one policy if you can’t find one plan with all your specific needs.
Many families will sign up one family member for one policy and put other family members on another policy. This ensures that everyone gets the coverage they need.
While it can be a process to find FREE online health insurance, it doesn’t have to be frustrating. You can easily find the information you need here by providing your ZIP now!