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Affordable Health Care

Health insurance provides coverage against the risk of incurring medical conditions that need attention, by guaranteeing the settlement of part or the total medical bill. There are three main types of health insurance plans that include Health Maintenance Organization (HMOs), Preferred Provider Organizations (PPOs), and Point-of-service Plans. Others like Consumer Direct Health Plans (CDHPs) and Health Savings Account (HSA) are also popular.

PPOs

Preferred Provider Organizations are highly flexible giving their clients the right to select doctors, care services as well as treatment options. This selection is however limited to a specified network of providers. It does not mean that one cannot consult a doctor outside the network of providers; this is possible although one would be required to pay more for the visit as well as treatment.

HMOs

Health Maintenance Organizations provide a primary care physician who oversees all the medical treatments. This plan places its clients under a doctor of choice selected within the plan, who becomes the regular physician thereby making recommendations regarding the patients’ care. HMOs feature a small fee with every visit to the doctor, although treatment and prescriptions are usually covered completely by the plan.

Indemnity Plans

Free-for-Service, Indemnity or the Traditional plans allow patient to settle for a doctor or hospital of choice. In return one has to pay an annual deductible and a certain percentage of the total medical bill. In spite of their flexibility, these are the most expensive option available. This plan does not entail permission before consulting a specialist, and the insurance company does not get to determine the necessity of a visit.

HSA

Health Savings Accounts are most suited for the strong and independent persons. Here one does not have to pay monthly premiums and co-pays to the company as the money is deducted tax-free from one’s pay cheque. Unlike most of the insurance plans, a Health Savings Account does not take the ‘what if’ approach. It encourages people to save for a rainy day, thus highly popular among young, single and healthy individuals.

Benefits

Purchasing health insurance can be very expensive, although in the long-run they tend to feature greater benefits than remaining uninsured. Insurance plans are advantageous to all individuals especially when dealing with hefty medical bills. Medical bills can lead to debt or declare one bankrupt, even before the total bill has been fully paid. Insurance also features some extra benefits such as regular screenings for common problematic conditions such as cancer and high blood pressure. This facilitates prevention as well as earlier detection of a problem that eradicates the chances of developing more severe problems. Patients with medical insurance also get to enjoy additional benefits such as diagnostic services, laboratory tests, rehabilitation therapy, mental health care and nursing home care after a hospital stay.

Why get Insured?

Many people tend to think that if they do not get sick very often they do not need a medical insurance coverage. However medical conditions usually arise unexpectedly, therefore it is important to secure oneself with health insurance so that the primary worry of medical bills is reduced if not completely eliminated. Uninsured individuals often get stuck in emergency rooms since most of them cannot cater for their medical bills. Being uninsured also denies individuals the benefit of enjoying immediate emergency attention. They are often made to wait for lengthy periods, especially if they have huge amounts of medical debt, as the medical practitioners attend to patients with guaranteed sources of payment.

A little research would help individuals come up with the most favorable insurance, which they can afford. For the cheapest option, it is essential to sign in with the insurance plan offered by the employer. Some insurance plans are very attractive as they extend coverage up to 18 months after separation from the employer. Things like the benefits derived from a particular plan, prescription drug coverage and the possible delays that may be encountered should be looked into thoroughly before settling for any specific plan.