CHEAP HEALTH INSURANCE THAT WILL WORK FOR AND SUIT YOUR NEED

There are certain things you should consider when you want to find a cheap Health Insurance Plan.

When you regard a health plan as the cheapest another may regard that same plan as very expensive, so individual needs matters a lot. But in this article we will be discussing some viral factors you need to consider before you final settle for cheap Health Insurance Plan:

1)    First of all understand what you need and can afford it will help you determine the best and cheapest health plan. It won’t be necessary buying the whole coverage when you don’t need them and this will cost you more. A Health Insurance is very important to every individual, family members and the public in general living conditions in today’s world can be very hazardous where sickness of different kinds come up on daily basis. 

     So having a health insurance covers you of infusing unexpected conditions and when such happens considering your low income state, you might not be able to cover your cost but an insurance company under your health premium will do this for you. Finding a cheap Health insurance policies is very good as it is been determined by how your pocket can be able to consistently take this policies, but one thing to note is that when looking for a cheap health insurance, the basics or the basic health insurance plan must be able to cover some essential health benefits and they include:

a.     Dental and vision car for children

b.     Drug prescription.

c.      Mental health services

d.     Laboratory test

e.      Care before and after delivery

f.       Offering services to help you recover from chronic condition or serious injuries

g.     Home care services (optional)

h.     Offering preventive services

i.       Access to emergency room (when such case arises)

     

     Having these above mentioned benefits then you should be to realize what you need in a health insurance plan.

2)    Cost Comparison: One thing you should try to do is to compare the cost of various Health Insurance Company and not only premium prices. I should be very sincere to you on this; you might see a plan that offers a cheap cost but does not cover what you really need and you might also see a very costly plan that covers all you need and more benefits attached to it but if your need and more benefits attached to it but if your needs are just a few 2,3, or 4 then you can see a very cheap health insurance plan. So comparing the cost is very important. 

      

     The next thing you should do is look back at your medical cost, it will be cost utilization, if you have an idea of how medical/health plans are before you opt in for another or a new one then have a fixed amount you are willing to spend based on co-payments deductibles and co-insurance as well as what you can be able to spend on premiums monthly with each plan. You can be cost wise and strategic enough to find the cheapest insurance plan when the total cost isn’t the highest plan or the lowest price.

     So you might just be good financial manager by first of all knowing what you need, comparing cost of different health insurance plan (Take your time, log into various insurance health companies and compare their offers and cost) and have the best part of it.

3)    Ok, let’s say you are ready to and want to purchase a health insurance plan but out of what is available in your pocket, the next is to look for insurance brokers, ask them what is available in different plans of their insurance company, compare the cost and definitely you are not going to end in one because all you doing is shopping. For instance, you want to purchase a car (looking for a cheap car to buy), when you get to the first shop, the seller tells you the cheapest car is for $10,000, take hold of that information and move unto another shop you might luckily see the same car offer for $9,000. 

     This same method applies to shopping for a cheap health insurance plan when you go to an insurance company you ask for their plans and the cost and move on to another insurance company. You can even do this on their website (Link -        List of insurance company) by visiting their website, many websites allow you to get their quotes online this will be helpful to you than just sorting out for an health insurance brokers website.

Tips:visit Health Insurance like ehealthinsurance.com, getinsured.com or healthcare.gov. 

This healthcare insurance companies allows you to get and compare plans/quotes.

4)    Choose the plan that suits your needs: your comparison, you will definitely have a fixed plan in mind that suits your needs or close to your needs while the experience plans covers all your need but have it in mind that health insurance is not only about the monetary aspect but basic services needed to be covered by these health plan just as listed above.

5)    Be careful of short term plans: short term plans are not always the best though they are relatively cheap. Before you conclude on having a short term plan to save yourself of too much expenses consider the fact that these plans may likely have some policies which apply on the expensive plans that means if you have some conditions before the having the plan, the short term plan providers. May not cover up for this and in the case of serious illness you might not have the privilege to renew your plan.

     Find a cheap health insurance plan is something that takes time and a lot of effort too, you just have to be patient and major financial tool to help you achieve this, explore the options and evaluate them to arrive at a conclusion/solution that best suits your need.

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TIPS: DO YOU KNOW ABOUT  THESE TYPES OF HEALTH INSURANCE? READ:

THE HEALTH MAINTENANCE ORGANISATION (HMO)


POINT OF SERVICE PLAN (POS)

OTHERS

THE CHANGES IN MEDICARE IN 2019 THAT IS VERY IMPORTANT

Medicare, the government program for seniors that is the basis for the recent “Medicare for All” political rallying cry, has some news of its own to announce for 2019. According to the Center for Medicare and Medicaid Services (CMS), several improvements in Medicare take effect this year, with some applying to all recipients and others only to those on a Medicare Advantage (MA) plan.


Types of Medicare Plans

When signing up for Medicare, you must choose between Original Medicare (Parts A and B) and Medicare Advantage, an all-inclusive private plan that provides regular Medicare coverage along with prescription drug coverage and some attractive extras such as dental, vision and hearing. Many who choose Original Medicare also get one of 10 Medigap plans for part or all of the 20% or so that Medicare doesn’t pay, along with a Medicare Part D prescription drug plan.


Medicare Advantage plans typically provide more benefits with lower premiums. The downside is that MA plans require you to choose “in network” providers. If you go outside the plan’s network or geographical area, you may pay more or not have coverage at all. Many Part D drug plans also have a network with similar restrictions. The table below outlines basic coverage provided by each type of Medicare plan.

2019 Premiums and Deductibles
For 2019 the amount you pay per month in premiums, deductibles, coinsurance and copay amounts will change as follows:


Part A Premiums – For the 1% of beneficiaries who pay them, Part A premiums will range from $240 to $437 per month in 2019, an increase of $8 to $15 based on the number of quarters of coverage you had. Your Part A deductible rises $24 to $1,364 in 2019.
Part B Premiums – For most beneficiaries, Part B premiums will be $135.50 in 2019 versus $134 last year. The Part B deductible increases $2 to $185.
Medicare Advantage Premiums – These will fall 6% on average to $28 for 2019. Some MA plans have no premiums (with skimpier coverage), but with MA plans you must also pay your Part B monthly premium and stay within the plan’s network.
Part D Drug Plan Premiums – These are expected to drop about $1.09 in 2019 to an average of $32.50 per month. The maximum allowable Part D deductible will increase from $405 to $415 in 2019.

Improved Medicare Handbook
The Medicare & You handbook, which the agency sends to beneficiaries every year, has been updated for 2019. This year’s edition includes checklists and flowcharts that make it easier to evaluate coverage. In addition, the online Medicare Plan Finder tool has been updated, along with an improved “coverage wizard” designed to help you compare costs and options between Original Medicare and Medicare Advantage.

Improved Telemedicine
Telehealth services, which allow patients to connect with medical professionals via video conference, now cover those with end-stage renal disease or undergoing treatment for a stroke. This is important for seniors with mobility problems who may previously have delayed going for treatment for those reasons.

Medicare Therapy Cap Gone
If you have Original Medicare, you will no longer be subject to a cap on outpatient physical, speech and occupational therapy. Historically, Medicare has limited the amount of coverage you had for those types of services.

Part D Doughnut Hole Closing
Under the Affordable Care Act (ACA) the doughnut hole (gap between initial and catastrophic coverage) was scheduled to close in 2020. Congress moved that closure up to 2019 for brand-name drugs. This means once your drug costs exceed $3,820, you’ll pay just 25% of the cost of brand-name drugs (compared to 35% in 2018) and 37% of the cost of generics while in the doughnut hole. Once your costs exceed $5,100 for the year, you’ll pay just 5% of the cost of all drugs under catastrophic coverage.

More Part D Preferred Pharmacy Plans
Many Part D prescription drug plans will offer lower premiums and copayments if you agree to use a pharmacy in the plan’s network. Otherwise, you may pay a lot more. Before signing up for a Part D plan, find out if it includes preferred pharmacies and if your favorite drugstore is in the network.

New Part D Pain Management Policies
Beginning in 2019 Medicare restricts initial opioid prescriptions to a seven-day (or less) supply. Additionally, if your daily dosage exceeds a set amount, the pharmacy must contact the prescriber for the claim to be paid. If a patient is identified as “at risk” for opioid abuse, Medicare will contact the prescriber to determine whether a drug management program should be utilized.

Changes to Medicare Advantage Plans
A number of helpful changes went into effect in 2019.

Improved MA Plan Enrollment Period
You now have up to three months (Jan. 1 to March 31) to try your Medicare Advantage plan and switch to another MA Plan or even switch to Original Medicare. Previously you only had about a month and a half (Jan. 1 to Feb. 14). If you revert to Original Medicare, you also have the option to sign up for a Medigap and/or Part D drug plan. For more on enrollment plan options, see the National Council on Aging’s fact sheet.

MA Plan Expanded Network Coverage
Some MA Plans are providing more expansive coverage for the use of out-of-network providers for 2019. In most cases this improved coverage comes at a higher cost. Choosing one of these plans could make sense if you want to be able to use out-of-network providers with an MA plan.

MA Plan Expanded Choices
About 600 new Medicare Advantage plans are being added in the U.S. in 2019. The CMS says more than 91% of Medicare recipients will have access to 10 or more Medicare Advantage plans, and in some areas the number of Part D prescription drug plans and options will increase as well.

MA Plan Lifestyle Support
As of this past January, MA plans have the option to cover nicotine replacement therapy, diabetes, congestive heart failure, meals delivered to your home, transportation to a doctor’s office and certain safety features, such as bathtub grab bars and wheelchair ramps. If your plan provides this coverage, you will need the recommendation of your doctor to obtain it.

MA Plan Home Health Care
MA plans can also elect to pay for home health aides to help with dressing, eating, personal care and other daily activities. As with other types of lifestyle support, your doctor must recommend coverage for you.

MA Plan Step Therapy Option
Also new for 2019, MA plans have the option to apply step therapy for certain doctor-ordered and Part B drugs. This means you may be required to try a lower-priced medication before the plan approves a higher-priced medication to treat your condition. If your MA plan has elected step therapy, it must offer a drug management care coordination program and may offer you incentives, such as gift cards, to encourage your participation.

The Bottom Line
Familiarize yourself with the changes listed above and watch for changes in the works for 2020 and beyond, including plans to mandate lower drug prices and offer even more services to Medicare beneficiaries.

THE RIGHT STRATEGY AND APPROACH TO TAKING UP HEALTH INSURANCE PLANS FOR INDIVIDUALS AND LOW INCOME EARNERS IN 2019

HEALTH INSURANCE PLANS FOR INDIVIDUALS AND LOW INCOME EARNERS

Introduction: This article comprises whole lot of topics and subtopics for your understanding and answers to your questions, we shall be talking about health insurance as the keyword because every topic we shall be discussing here should involve around health insurance. Health insurance is one of the most important insurance politics as it involves the healthy life of a person. It’s been said “that health is wealth”, the ability of a man to live a healthy daily life is the beginning of success and more advancement to it. 

Well quickly let’s typically buttress on the course of our topic which is health insurance plans for individual and low income adult but first

What is health: health is the ability of a person to live either at a good or bad state of body system and which affects the daily living of such person presently or grow within a specific time. In other words we are saying health can be in a good(positive) or bad(negative) state and when in a good state it is been said such person is living on illness free life and if in a bad state is been known that such person is facing one illness or the other which causes discomfort. 

The ability to live a healthy life is affected by so many factors which can include dirty environment, the type of food you eat, un cleanliness and so many others , but some of these illness are self caused and by others can be natural that just come unexpectedly once in  awhile but many fear the state of been ill because it causes great discomfort and hinders daily activities and the greatest fear is when  you fall into such state (bill) and unable to take care of yourself due to lack of finance or low income which you could make you not to be able to take care of yourself immediately . You could be financially buoyant today and tomorrow is no longer coming a expected, in this case what do you? Do you start taking up loan to afford taking care of huge health cost due to this lapses it came about the need for insuring your health which is called “health Insurance”

What is health insurance? Health insurance can be defined as that type of insurance that covers the whole or part of the risk of a person incurring medical expenses and spreading the risk over a large number of persons. Health insurance coverage pays for the benefit as a result sickness or injuries. It includes insurance for losses from accident, disability, medical expenses or accidental death. A contact that requires a health insurer to pay some or all of your care cost in exchange for a premium, the health insurer is the insurance company that sells insurance plans/policy in which special benefits ar allocated to the insured(the person who buys the policy) which are covered by your health insurance policy through the purchase of premium(money paid to the insurance company) in order to receive the benefits that will be paid by the insurance company

How health insurance works:

Upon taking a health insurance plan, the date your policy begins will totally depend on when you apply for coverage, as you take up the policy, the insurance company will send you the plan/policy information including ID Cards to use when claiming your benefits like visiting the doctor’s office, pharmacy or hospital. Your health insurance company will send an explanation of benefits outlining the charge for your care, the portion your plan covers and the amount you will likely be charge-out-of-pocket expenses. Your insurer pays your provider (health institutes or organizations) their share, then you are been billed for the remaining balance which you pay directly to them

Types of health insurance

There are basically seven types of health insurance plans that I beneficial to you but having the right health insurance benefits for you or your business is very important. Knowing the types of this health insurance plan will help you evaluate the options each year as part of your internal small business audit or personal life. We shall briefly discuss the types of health insurance plan as it is not our major keyword or topic 

1 Preferred Provider organization (PPO): a PPO plan is a preferred provider organization group health insurance plan/policy. With this plan, employees are encouraged to use a network of preferred doctors and hospital/these providers are contracted to provide service to plan members at a negotiated or discounted rate.

2 Health Maintenance Organization (HMO): with this plan, employess generally has lower out-of-pocket expenses but also have less flexibility in the choice of physicians or hospitals than other plans. This plan may require employees to chose a primary care physician (PCP) , to see a specialist, employee will need to obtain a referral from their PCP. HMO’s generally provide coverage for a broader range of representative services than other policies. Employee may or may not be required to pay a deductible before their coverage starts and would usually have a co-payment.

3 Point of service plan (POS) : This plan combines features of HMO and PPO plan. POS also may require employees to choose primary care physician (PCP) from the plan’s network providers. In, general services rendered by the PCP aren’t subject to the policy deductible.

4 Exclusive providers Organization (EPO’s): This plan are similar to the HMO plan because they have a network of physicians that their members are required to use except in the case of emergency. Employee members will have a primary care physician (PCP) who will provide referrals to in-network specialist, EPO members are responsible for small co-payments and may require a deductible.

5 Indemnity Health Insurance Plan: this plan is known for fee-for-service plans because of cost paid to the members for covered services. The member may be responsible for deductibles and co-insurance amounts

6 Health savings accounts: this type of plan is tax favored savings account that is used in conjunction with an HAS-compatible high deductible health plan to pay for qualifying medical expense, though this plan can be attached to group health insurance

7 Qualifying small employer health reimbursement arrangements (QSEHRA): This plan is a small business health insurance benefit specifically designed for business with fewer than 50 employees, it also allows of tax free money for employees by small business. It is a good solution for small business because there is no minimum contribution requirements and all full time employees receives value.

Advantages and benefits of Health Insurance

Advantages and Benefits of Health Insurance includes the following categories:

Health Insurance is often ignored by young professionals and their attitude towards Health Insurance has been somewhat lax. A basic health insurance policy offers a wide range of benefits that protect individuals and low income earners from unexpected medical expenses. This policy will cover for medical treatment expenses, pre and post.

Hospitalization expenses, room rent, critical illness, domiciliary expenses and day-care procedure. Insurance companies offer some of the best term insurance plan based on your needs and requirements. Hence it will bring down medical expenses to a great extent so that your family does not feel the pressure of the situation.

1 Ambulatory patient service

2 Emergency services

3 Hospitalizations

4 Maternity and newborn care

5 Mental health and substance abuse disorder services (including behavioral health treatment)

6 Prescription drugs

7 Rehabilitative and habilitative services and devices

8 Laboratory services

9 Preventive and wellness services and chronic disease management

10 Pediatric services, including oral and vision care

In broader terms we can say the advantages and benefits include:

1 Cashless Treatment - If you are insured with health insurance the insurance company works in collaboration with the respective hospital.

2 Pre and post hospitalization cost coverage - Health insurance policy also covers pre and post hospitalization charges depending on the insurance plans purchased.

3 Transportation Charges - It covers the ambulance charges for the transportation of insured.

4 No Claim Bonus - This is offered in case policyholder does not file a claim for any treatment in the previous year.

5 Medical Checkup - Few insurance companies offer free health checkup option based on previous NCB’s

6 Room Rent - Depending on the premium amount being paid hospital room expenses are also covered for the policyholder.

7 Tax Benefit - Premium paid on Health insurance is tax deductible under section 80D of the Income Tax Act.

8 Alternative Treatment : Various health insurance companies in India offer alternative treatment benefits. Presently alternative treatment has gained considerable popularity. Many insurance providers offer alternative treatments such as Homeopathy, Yoga, Ayurveda, etc. under their health insurance plans.

9 Attendant Allowance : Health insurance companies now offer attendance allowances to the adults accompanying the insured person at hospital given that the insured is a child. However, the number of days for which an insurer provides attendant allowance is fixed.

10 Bariatric (Weight loss) Surgeries : Since bariatric surgeries are no longer considered as cosmetic weight loss process and are seen as a life-saving treatment for obese people who are suffering from weight related diseases, various health insurance companies offer Bariatric (Weight loss) Surgeries.

11 Convalescence Benefit : Convalescence benefit is also known as recuperating or recovery benefit. This takes care of the insured person’s recovery expenses. The convalescence benefit is offered in order to cover additional costs that could arise out of hospitalization, such as loss of income.

12 Daily Hospital Cash Allowance : Health insurance companies nowadays cover the expenses that are not covered under the mediclaim policy, such as travelling and food. Under daily hospital cash benefit, insurers offer a certain amount of money per day depending on the type of plan and insurance company you choose.

13 Domiciliary Treatment : Domiciliary treatment stands for the treatment at home under medical supervision. Many health insurance companies have now extended this coverage. However, the expenses arising out of domiciliary treatment has been capped down to a certain limit for a certain number of days.

14 Dental Treatment : A number of health insurers offer dental covers and takes care of the dental treatment once in a certain period of years.

15 Expenses Related to Organ Donor : Health insurance policy also covers the expenses related to organ donor as well. Given that the basic cost of a kidney transplant could range somewhere between Rs. 3 to 6 Lakhs, health insurance policy takes care of this. Some health insurance companies reimburse the entire cost of an organ donor while some impose a cap on the expenses and offer it as an add-on cover.

16 Free Health Checkup: You can avail free health checkup under your health insurance policy. Free health checkup is generally offered periodically once after every 4 claim free years.

Health Insurance for Individuals and Low Income Earners

Health Insurance plan for individuals

There are many insurance companies that offer attractive options on Individual Health plan. It is reasonable to get confused as to which Individual Health Insurance policy to purchase.

Here is how you can choose the best Health Insurance for individual:

1 Compare all the benefits and offers offered to you by the Health Insurance companies on the Internet.

2 Go for the insurance policy that offers you the highest sum insured on health and medical treatments.

3 Choose the health insurance plan that has the minimum waiting period on pre-existing illnesses. Most of the insurance companies have a waiting period of 2 to 3 years.

4 Purchase a Health insurance policy that has the maximum age limit for renewability of the policy. So that the policy you buy at younger age can insure you at old age after renewal.

5 Check the company’s claim settlement ratio. Go with the ones that have the highest claim settlement ratio.

6 Go for the insurance companies that offer the maximum sub-limits on Hospital room rents or ambulance charges.

7 Compare the premiums of all the available health insurance policy.

8 Check the hospitals that are enlisted by health insurance coverage.

9 Always check the reviews and feedback of the company online.

10 Also make sure you check the exclusions of certain illness in the policy.

Health Insurance plan for Low Income Earners

For people with low income that live in the United States, the federal government has mandated that states offer a program called Medicaid.  Each state has different eligibility requirements.

Many states have other health-care programs for those who may not qualify for Medicaid - comprehensive coverage may not be included, but certain services like primary care or contraception might be.

States also may offer coverage for children even if a family's income exceeds Medicaid qualification limits. Federally this is known as CHIP or the children health insurance program.

Visit the Centers for Medicare & Medicaid Services to get links to each state's programs: Medicaid Gen Info

And If you do not qualify for Medicaid, check with your state insurance department to see if they have any other programs to help you. If there aren't any other programs available consider a catastrophic health insurance plan which doesn't provide routine care but will provide coverage in an emergency.

Individuals with low income have been receiving subsidies for purchasing health insurance due to health care reform. And the eligibility requirements for Medicaid will also be expanded to cover adults with no children in every state.

Conclusion: we have strategically analyzed all what it takes to fully understand health insurance advantages/benefits health insurance for individuals and low income earners…

What do you have to say? Drop your comments

WHAT SHOULD I DO FOR MY HEALTH INSURANCE CLAIM NOT TO BE REJECTED

WHEN CAN MY HEALTH INSURANCE CLAIM BE REJECTED

While getting a insurance approach, several health-related divulgences area unit sought for by the insurance organisation. It's as a result of the revelation of previous infections is needed whereas shopping for an insurance arrangement. The insurance organisation decides a meeting premium hooked in to the information area unit given by the customer acceptive that no matter disclosure has been created is correct. The insurance organisation comprehends the concept of hazard and computes the premium to hide that probability at the season of guaranteeing a meeting.


In any case, if you don’t unveil your medicative condition exactly, shortly amid a scenario, there's a high chance of it obtaining rejected on the grounds of non-revelation. Consequently, it's important that you just alter divulgences, notably concerning your health, concerning the current also because the past conditions.

Specialists propose, if policyholders build the exposures forthright amid the method toward guaranteeing, for the foremost part, there's no rivalry or queries observed afterward the grounds of non-revelation. For instance, most insurance organizations don’t request a therapeutic check before the age of forty-five, and also the approach is given in compliance with common decency. In any case, on the off probability that you just don’t uncover your acceptable medicative conditions or previous infections whereas getting the strategy, there's a high chance of your case being rejected soon. During this method, it's important to understand and lawfully fill up the approaching form and build the correct exposures.

READ: WHAT YOU NEED TO KNOW ABOUT HEALTH INSURANCE

On the off likelihood that you simply are determined to own a therapeutic issue a couple of years down the road within the wake of buying the insurance approach, at that time it isn’t essential to reveal the condition to your insurance provider even so amid restoration. Usually, the backup arranges incorporates this within the current approach, providing you reinstate the arrangement systematically while not missing any installment. As indicated by specialists, on the off probability that you just were unconscious of any condition whereas getting the agreement and later you build up a therapeutic scenario, your health insurance claim won’t be rejected.

Industry specialists propose, as a good observation that the customer have to be compelled to uncover if there are any changes in their health conditions amid recharging. Most safety net providers presently offer direction and facilitate the policyholders with their terms, by providing correlative welfare projects and mastery to modify them to recuperate. The exceptional price of a customer isn’t affected owing to this. For a private insurance strategy premium will increment if the customer must expand their current mixture protected or with age.

READ MORE: CHEAP HEALTH  INSURANCE STRATEGY

In a few years once purchasing a method, on the off chance that you just are determined to own any new restorative condition, and you would like to endorse or expand this total secured, the security net supplier can think about this as previous and also the new premium can in like manner increment. Be that because it might, this most likely won’t impact your underlying insurance cover? A couple of safety net suppliers will even decay to expand the complete protected or may additionally command existing health conditions.

For example, on the off probability that you just are, you and a smoker don’t announce that to your back up arrange whereas getting the strategy, and later it gets uncovered that you have just been a smoker at the season of taking the arrangement, the insurance organization has the privilege to deny your case. In any case, if a non-smoker, United Nations Agency has purchased an insurance cover, begins smoking in later years, his insurance premium doesn't get influenced as a result of this.

ALL YOU NEED TO KNOW ABOUT HEALTH INSURANCE FOR YOU AND YOUR FAMILY

HEALTH INSURANCE DEFINITION, TYPES, AND BENEFITS

HEALTH INSURANCE DEFINITION

Health Insurance is that type of insurance that covers the whole or part of the risk of a person including medical expenses spreading the risk over a large number of persons. Health insurance is a contractual agreement between an insurance company and an individual. The contract can be renewable or lifelong in the case of private insurance, or be mandatory to all citizens in the case of national plans.

In understanding terms, health insurance is that part of insurance coverage that covers the cost of an insured individual’s medical and surgical expenses. Depending on the type of health insurance coverage, either the insured pays cost out of pocket and relives reimbursement or the insurer makes payment directly to the provider, in countries without universal health care coverage like the united states, health insurance is commonly included in the employed benefit packages,

Health insurance is a plan that people buying return for coverage on all kinds of medical care

Most plans cover:

1)  Doctor’s appointments

2)  Emergency room visit

3)  Hospital stays and medications

The idea behind medical insurance is that:

Medical care can be costly, the majority can’t pay for all of it out of their very own pockets but if a set of people gets together and everyone can pay a set amount each month (whether they want medical care at that time or not). The danger is spread out over the entire group. Each person is protected from high health care cost because the burden is shared by many.

Having known what health insurance is about let see importance of health insurance:

IMPORTANCE OF HEALTH INSURANCE

Buying a health insurance policy insurance policy for yourself and your family is important because medical care is expensive especially in the private sector. If the person who brings in the money is not hospitalized, this can be allowed by just paying a small annual premium which would lesser your stress on case of medical emergencies.

A good health insurance policy would usually cover expenses made towards doctor consultation fees, cost towards medical test, ambulance charges, hospitalization costs and even post hospitalization recovery cost to a certain event.

Benefits of Having A Health Insurance Policy.

1)    Cashless Treatment
2)    Pre and post hospitalization
3)    Transportation charge
4)    No claim bonus
5)    Medical checkup
6)    Room rent
7)    Tax benefit

1)  Cashless Treatment: In the area of health insurance cashless treatment as benefit of health insurance policy, you get cashless treatments as your insurance company would work in collaboration with various hospital networks

2)  Transport charges: Insurance Company also pays/covers the amount incurred by the ambulance towards the transportation of insured.

3)  No claim bonus: This is the bonus element which is paid to the insured if the insured does not file a claim for any treatment in the previous year.

4) Pre and post hospitalization cost coverage: Insurance policy covers pre and post hospitalization charges to the period of 60 days depending on the insurance plan purchased.

5) Medical check-up: Insurance policy also provides options for health check-up. Free health checkup is also provided by some insurer based on your NCBs.

Document Required When Buying A Health Insurance Policy.

1)    Age proof

2)    Identity proof

3)    Address proof

4)    Some plans require a medical check-up

5)    Passport photo size photo

WHAT POINT OF SERVICE PLAN (POS) IS ALL ABOUT

POINT OF SERVICE PLAN (POS): DEFINITION

This plan is similar to the health maintenance organization HMO in more ways because it also requires a primary care provider to be chosen and all care and referrals come to the primary care provider (PCP). Care is closely coordinated and does not require pre-authorized from the insurance company. The primary difference with the Point of Service Plan  (point of service provider) is that provides outside the network may be covered, although at a significant higher cost to the patient.

A Point Of Service Plan (POS) can be a good choice for those who travel a lot and are concerned about needing care outside the local area, or who cannot locate an HMO that carries all of their providers.

In more understanding terms, point of service plan is a type of managed care health insurance plan in the United State. It combines characteristics of the health maintenance organization (HMO) and the preferred provider organization plan.

How do a POS plan work?

POS combines elements of both HMO and PPO plans (preferred provider organization). Like and HMO plan, you may be required to designate a primary care physician who will then make referrals to network specialist when needed. Depending upon the plan, services rendered by your personal care provider are typically not subject to a deductable and preventive care benefits are usually included. Like PPO plan, you may receive care from non-network providers but with greater out-of-pocket costs; you may also be responsible for co-payment, coinsurance and an annual deductible.

Benefits of POS Plan

1.   You can go out of network with relative ease because a POS is an HMO with out of network benefits. You can see any specialist. POS plans also suits people who might use lots of outpatient medical services such as counseling.

2.     You can enjoy more geographic flexibility; travelers can visit doctors nearly anywhere and still have some medical coverage.

3.    If you live in a rural area or small town, you can benefit because your choices can be less limited than with a HMO.

Take note of this: you can waste your premium money if you can sign up for POS coverage and never use out-of-network specialist. So do the mathematics each plan-considering the costs you are likely to get in return-before going into the POS route.

When planning to opt in for an HMO plan an individual should consider the cost of premium, out of pocket cost, if he has a medical condition that requires specialized care and whether having his own primary health care provider is important.