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Deciding on Your Healthcare Plan!

Our health insurance coverage comes from a group plan provided to you by your company or by your spouse's employer in various cases. For individuals who don't have insurance through their employer, sole policies exist as an option. This article hopes to help you decide on your health plan by learning basic terms in Healthcare Insurance

Deciding On Your Healthcare Plan | activeinsuranceadvisors.com

Naturally, you can also opt for having no coverage at all, but this could be detrimental to your financial health in the case of an emergency. No matter your marital status or age, it's worth looking into your choices for a good healthcare plan to protect yourself from medically-induced financial challenges.

No matter what kind of policy you choose, there will always be some out-of-pocket expenses, which means you'll have some settlement to make. Deciding what type of healthcare plan to select can be stressful, but it doesn't have to be confusing. In the topics below, we will talk about the critical element that plays into choosing the right health insurance plan.

Types of health plans available

There are many different terms to learn when sorting through health insurance plans, and each of them comes with its own set of specifications. Before we talk about the difference between HMOs, PPOs, POS Plans, and Indemnity plans, it's essential to start with the most familiar types of health insurance classification:

  • Indemnity of Fee-for-Service Plans: Health insurance policies that enable you to go to any doctor or specialist you want without a referral are called indemnity, fee-for-service, or point of service (POS) plans. The insurance company will provide a predetermined amount of your medical expenses. You will be responsible for the left-over balance. These plans tend to be the most workable since there is no set limit on the medical providers you're allowed to choose. You are usually not required to pick a primary care doctor. 
  • Health Maintenance Organizations (HMOs): The Health Maintenance Organization (HMO) is a network of healthcare professionals and medical facilities that provide a set package of health services at a fixed price. This policy does require that you need a primary care physician (PCP), who would present as the middle-man when it comes to your healthcare. Your primary care physician would then determine whether or not seeking out a specialist is necessary. If your PCP finds it essential for you to see a specialist, they will give you a familiar referral. 
  • Preferred Provider Organizations (PPOs): The Preferred Provider Organization (PPO) has the same assembled care attributes that you will avail from an HMO but with the benefit of more workable options. A PPO gives you to seek healthcare outside of your network if you think they need to. Just a reminder that doing so will usually cost you extra in out-of-pocket expenses, but a PPO would still protect some of the cost, unlike an HMO. If having a wide variety of options is essential to you, then a PPO might be a good option for you. 

Advantages and Disadvantages of Each Healthcare Plan. 

Each type of plan comes with its implications. Eventually, you'll have to figure out what is most important to you to make your decision. Let's evaluate and assess the advantages and disadvantages of each plan.

  • Indemnity Plans

    Advantage: The significant advantage of this type of plan is that you can choose where you get your healthcare from and which doctor to go to without needing a referral or a pre-approval. 

    Disadvantage: Indemnity plans usually come with much higher premiums and deductibles, making them more expensive than an HMO or PPO. Another area where these plans fall bad is the path you may have to take to get coverage. You may have to finance your medical services out of your pocket and eventually submit a claim to get compensated by your insurance company. No one knows how long this could take, and you also face the possibility of not getting compensation at all.

  • Health Maintenance Organizations (HMOs) 

    Advantage: The best thing about acquiring an HMO insurance plan is that your out-of-pocket medical expenses are usually very affordable, and you can anticipate paying the alike amount for each visit, depending on whether it's a primary care doctor or a specialist.

    Disadvantage: Usually, any services that you avail from a medical professional outside of your healthcare network will not be protected with an HMO plan. Another downside is that you have to get referred by your primary care physician to see a specialist. This is rarely seen as a disadvantage to some. Still, for others, it could be seen as an inessential extra step in the system if you already understand what you need. 

  • Preferred Provider Organizations (PPO)

    Advantage: This kind of plan offers customers much more freedom than they would have with an HMO with a lot lesser rates than one might encounter through an indemnity plan. 

    Disadvantage: The main downside with a PPO is that the out-of-pocket costs are generally less anticipated. 

Health Insurance Cover For

  • Ambulatory Patient Services
  • Emergency Services
  • Hospitalization
  • Laboratory Services
  • Mental Health and Substance Use Disorder Services
  • Pediatric Services
  • Prescription Drugs
  • Pregnancy, Maternity and Newborn Care
  • Preventive and Wellness Services
  • Rehabilitative and Habilitative Services

Your Questions About Health Insurance

Do I need Health insurance?

Most of people are unaware of how expensive healthcare can be. By covering yourself with medical insurance, you benefit from the peace of mind that you are protected financially if a health problem ever arises.

Pre-existing Conditions?

Most of the insurers will exclude pre-existing health conditions; however, some will cost an additional premium to approve the application, but this depends on the medical condition's severity.

does Maternity Cover?

Maternity care in private hospitals in many states can be costly. It is vital to acquire maternity coverage if you are planning to become pregnant. Most policies have a 12 month waiting period before maternity-related expenses will be covered.

Why Choose Us?

We put you first

You can indeed get health insurance cover in just minutes. Insurance can seem a little confusing and overwhelming sometimes, but we're here to give you peace of mind. Enjoy your life, knowing you're covered for any doubts.

We won't waste your time.

We've spoken to thousands of professionals, and one of the most significant issues they say they have is lack of time. Health insurance is designed to be quick, easy, and efficient. You can secure insurance for your health in just a few clicks.

We do things the right way.

We mean what our name defines. We'll always provide you with the excellent service possible. We'll never knowingly leave anyone underinsured. That's why we're advisors in the health insurance industry – because we know exactly what cover you'll need.

We Find The Best Plan for You

Our comparison tool and highly trained, free of charge licensed agents will help you find the best health insurance and make recommendations for your particular concerns. Purchase with pride & confidence - and if you are unhappy with your option, you can cancel during the assessment period to get your money back.

The Best Price Assurance

Plan price is calculated by your health details: medication, health conditions and specific coverage needs. The cost of your health protection policy will be as unique as you and your health, but we assure you that will not find the same list anywhere else for less money.

Top Health Insurance Companies

Our system gives you the power to instantly compare the best health insurance providers based on your trip details. We offer policies from large and small providers alike, featuring a wide variety of plans to choose from so you can discover the best one to fit your specific needs.

Our US-Based Insurance Advisors are Available to Answer Your Health Insurance Questions

So You Can Make an Informed Decision  About The Best Plan for You!