If you are like most people, you have probably heard that health insurance is not cheap. If you want to buy a new car, you can get a great deal on it. You can also find low cost health insurance. However, finding affordable health insurance is a little more difficult than getting a good deal on a car. The reason for this is that there are many different types of health insurance plans and they all offer different benefits.
There are three main types of health insurance: HMOs, PPOs and indemnity plans. HMOs (Health Maintenance Organizations) are the least expensive. They require you to visit your doctor or other health care provider regularly. You pay a small monthly fee for this service. If you do not keep up with your visits, you will be denied coverage. PPOs (Preferred Provider Organizations) are similar to HMOs except that you can choose any doctor or health care provider. PPOs are usually more expensive than HMOs because you can choose any doctor or hospital instead of only those covered by the HMO. Indemnity plans are the most expensive. They require you to pay a monthly premium in order to receive benefits from the insurance company. This plan allows you to choose any doctor or hospital but you will be responsible for paying any charges that you incur.
Before choosing an insurance plan, you should look at the deductibles associated with each plan. A deductible is the amount of money you must pay before the insurance company will pay anything towards your medical expenses. For example, if you have a $1,000 deductible, you will have to pay $1,000 out of pocket before your insurance will pay anything. If you have a $5,000 deductible, you will only have to pay $5,000 out of pocket before the insurance company pays anything.
When shopping for health insurance, make sure you ask the following questions:
- * What is the deductible?
- * How much does the insurance cost per month?
- * What type of coverage do I need?
- * How much does my insurance cover?
- * What is the total amount of my deductible?
- * What are my co-payments?
- * How long will my policy last?
- * How much will my premiums increase when I get older?
- * How long will it take for me to get a refund if I cancel my policy?
- * How much will I pay for any uncovered services?
- * Will I have to pay a penalty if I go without insurance for a period of time?
These are just some of the questions you should ask when shopping for health insurance. When you know what you are looking for, you will be able to find affordable health insurance.
