Finding a beneficial and low cost of health insurance is becoming so difficult nowadays. When you compare the cost of health care before and now, it seems that the dollar has indeed depreciated so much. If you had insurance plans some years before, you will be glad that you did then because the cost had risen with inflation.
You could spend long hours trying to find a good health insurance cover at a cost that you can afford. It indeed is tough to locate a plan that will be significantly satisfactory to your need and budget. Just browsing the insurance websites, the offers are tempting and indeed they are great. However, you can hardly go for one of them until you are able to make computation with your financial capability. Is making the decision tough? It is – and if you have no enough budget and in such a situation you could still try harder to find one good low cost health insurance.
Do not think that things are going out of hand because you cannot find what you are looking for. Let me help you with three types of health insurance plan – network, HAS and indemnity kinds of medical protection.
The network plan is known to many people as group insurance plan. The cheapest in the group is the HMO or Health Management Organization plan. As it quotes the lowest cost of health insurance, it is also the most restrictive. This does not mean though that it is not substantial with benefits. It may not contain benefits found in other plans but the HMO is sufficiently providing the most basic benefits, despite the tolerable limitations.
What could be one limitation is the need to pick your primary care physician who will be responsible in referring you to your would-be attending doctor; this is why he is called the “gate keeper”. He is your first stop when you want medical attention. This is not really big deal; what may be the biggest limitation is that there is no flexibility in choosing your doctor. You only have to find one from HMO accredited list. The same thing for hospital – you have limited options. Well, that is what you get for a low cost of health insurance.
The HAS is another health insurance plan that is cheap. You will have an account with a bank from where you will draw funds for payment of medical incurrence. Every time you need medical assistance, you go to the bank. It is just a sad fact when you have all consumed the amount in the bank account; you will need to pay your succeeding medical expenses from out-of-pocket. Now, if the HAS account is not used up by the end of the term of the insurance, the remaining amount will be left in bank to accumulate interest. This account is tax-free. Under this type of insurance, pre-existing condition is not one of the benefits. But this is one that you can immediately use in case of emergency treatment.Indemnity plans to include health insurance for kids.
A third type of low cost health insurance is the indemnity plan. This is very much similar to the traditional insurance plan. You can include here the coverage of your dependents. This then provides health insurance for kids and spouse. The process of claiming benefits is fast and easy. When there is pressing need for medical care, your insurer will pay your pre-determined cost of treatment. You just have to lodge your claim to your insurer and the money will be released to you. The cost and benefits will be more if you have a high deductible insurance policy.
Medical insurance is now a necessity. The cost of hospitalization is too much to bear. Despite the higher cost of health insurance today, there are some plans that can still be affordable. Among the cheap types are network, HAS and indemnity health insurances.More from my site
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