Important things you need to know about health insurance

06 August 2013 - Which Way To Pay

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Your 60 second guide to Health Insurance.

Healthcare can be very expensive and few individuals can afford to pay the full cost. That is why Health Insurance is such an important part of your day to day life. Having health insurance allows you to get the treatment you need without the worry of having to pay extortionate bills.

Most Americans have private health insurance or participate in public programs, such as Medicare. But unfortunately many Americans are uninsured due to finances or pre-existing conditions.

What are the different health insurance policies available?

When you buy health insurance, you will usually have to choose between three categories:

  • Traditional fee-for-service health insurance plans. These are usually the most expensive but offer you the greatest flexibility.
  • Health Maintenance Organizations (HMOs). These offer lower co-payments and cover the cost of more preventative care, your choice of healthcare providers is limited.
  • Preferred provider Organizations (PPOs). These are similar to HMSs but give you greater flexibility when selecting a provider.

What questions should you ask your health insurance provider?

Remember when choosing which health insurance policy to take out you must read all the fine print and ensure you ask lots of questions. Do you know if you have the right to go to any doctor or hospital you choose? Are specialists such as eye doctors included? What are the deductibles? Does the plan cover special conditions or treatments such as pregnancy? Do your research properly before you commit to a policy.

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