There are several private health insurance programs to choose from. Finding one that is reliable isn’t impossible, but may take some digging around on the consumer’s part. Many times employers will offer their employees a group health insurance plan. It’s not only important that an employer looks carefully into the health insurance, but the employee as well.
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According to an article on the CNN Money website, group health insurance is almost always the most reliable private health insurance you can get. The savings are much better because employers are paying part if not all of the premiums and there are no exclusions among the employees. Everyone gets in.
Going Without Private Health Insurance
Is it cheaper to go without private health insurance? Many people choose health insurance for peace of mind and never really end up using what they pay for. However, it just takes one accident or illness to cost you thousands of dollars in medical expenses. Heart attacks alone can cost a person hundreds of thousands of dollars in surgical fees, doctor’s fees and hospital fees. Going without any health insurance may save you money in the short term, but in most cases not in the long run.
About Private Health Insurance
If you aren’t able to get group health insurance through your employer, searching for your own can be a challenge. There’s quite a bit of paperwork to sift through and if you’re not sure what to look for you could very well get the wrong health insurance policy.
Looking for reliable private health insurance is easy when you utilize the internet.
As you’re searching keep in mind what you actually need for coverage. If you have several people in your household that need health insurance, a family plan is the way to go. It’s also important to know what kind of plan you need to cover all your needs. Most people will choose a managed healthcare plan such as an HMO, PPO or POS insurance coverage plan.
Scour each health insurance plan for loopholes. Even those that seem to have great medical coverage up front can turn out to have some pretty hefty exclusions. You may be looking at a plan that covers doctor’s and specialist’s visits, but won’t cover maternity care.
The Difference Between HMO, PPO, and POS Plans
According to an article done by CBS News there are some big differences between HMO, PPO and POS plans. Many Americans get mixed up.
In HMO insurance plans you have a very specific network of doctor’s hospitals and medical providers you can seek care from. In order to even access your health insurance coverage you must first choose a primary care physician within your network to act as the lead in your medical care requirements.
If a policyholder seeks care outside of the health insurance’s network of providers or seeks out a professional without the authorization of their primary care physician, the insurance company will not pick up the bill for the medical care received. The policyholder will have to pay for everything out of pocket.
PPO plans are very similar to HMO plans. They too have a network of providers to choose from. This network of providers offer the insurance company discounted rates in medical care. The policyholder will pay a small percentage of the bill and the health insurance company will pick up the rest.
One of the big differences between a PPO and HMO plan is the flexibility to seek out other specialists. With an HMO plan you have to get referred by your primary care physician before you can go see a specialist, but with a PPO plan you don’t need to.
A POS is basically a mix between an HMO and indemnity plan; you still select a primary care physician from a list of network providers. However, you do have a little more flexibility. You can seek out specialist in the network without a referral. You can also see specialists who are not in the network and simply pay more out of pocket expenses.
Finding a Reliable Health Insurance Company
How do I know if a health insurance company is reliable? Once you’ve found a couple of health insurance companies do some research on them. Standard and Poors is a great website for finding out the financial stability of a company. You can also check out the Better Business Bureau to see how a health insurance company handles customer complaints.
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