There are many advantages to individual health insurance, and many services offered with it. Some insurance plans for individual health insurance include emergency services, hospitalization and preventive care. Finding the right type of insurance may be difficult, but a very important factor will allow you to choose carefully. Comparing the types of insurance plans will ultimately help you to choose the right type of individual insurance for you and a plan that will fit your budget. Two types of individual health insurance are fee-for-service plans and managed care plans.
Fee-for-service insurance is also known as indemnity insurance. It involves paying for doctor's services and visits up front, and later being reimbursed for the amount by your insurance company. This option of insurance for individuals may provide higher monthly premiums than managed care plans. This plan is now less common. However, it allows you to consult or see any doctor of your choice, at any hospital of your choosing. When comparing this plan, look for the lowest cost insurance without sacrificing the things you may need to be provided by your insurance company.
Managed care plans for individual health insurance often are either preferred provider organization plans, or PPO, or health maintenance organization, or HMO. Within these plans, the company that provides them will have a network of hospitals and doctors that provide care to the members of the insurance company. You may not be able to visit hospitals and doctors that are not within this network. PPO plans may allow you to visit hospitals and doctors outside of the network, but you will pay more for this service. HMOs work by allowing your doctor visits to be pre-paid. You will pay a small copayment when you visit your doctor.
Other types of insurance plans for health insurance include high-risk pools and association based insurance. High risk pools are for individuals that may not be able to obtain insurance from other insurance providers because they suffer from a serious medical condition. In order to be eligible for high risk pools, it is either because a high risk pool is the lowest monthly premium you could find for a health insurance plan, or you have been refused coverage by at least one other insurance company. Association based insurance is available to individuals through their profession or trade. This may include religion organization. Things to consider are whether it covers family members, what it will cost and what will be covered.If you need assistance in locating particular coverages at a pre-determined price, we can help you save up to 40% on your health insurance premium.
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