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Plan Solutions
When you are looking for health insurance, the first
step is to understand what plans are available to you. Consider
the following plans when figuring out what is best for you and
your family.
In health insurance, flexibility grows in relation
to the price. The more you pay, the more freedom you have to choose
things like your doctor and medical facility. As a general rule,
the most inexpensive (and inflexible) health insurance is an HMO
plan. A POS is slightly more expensive but also slightly more
flexible. A PPO plan is more expensive than a POS or an HMO but
much more flexible.
Another option is to use a Health Savings Account
or a Self Directed Health Plan. Both of these go about covering
health expenses in a different way, allowing you to put money
away for use in the event of medical need.
Prescription plans offer assistance with prescription
drug costs, and discount plans are not health insurance plans
but a membership based discount club that offers discounts on
medical services.
Get more information about health insurance >>
Some other types of insurance include:
- Accident Insurance – covers loss incurred in a car
accident.
- Basic Hospital Insurance – covers high cost of hospital
room and board and other expenses incurred while an inpatient.
- Cafeteria Plan – an employee benefit plan which allows
employees to choose from a variety of group life, medical
expense, disability, dental, and other plans. Also called
flexible benefit plans.
- Comprehensive Major Medical Insurance - offers protection
by a basic and a major health insurance policy. Low deductible
amounts, a coinsurance feature, and high benefits maximum
are usually included.
- Dental Insurance - Assists in covering the costs of dental
care and accidental damage to teeth.
- Dependent Coverage - Insurance that covers the spouse or
children of the holder. Age restrictions for children apply.
- Group Insurance – Insurance provided for a number
of people under a single policy and issued to their employer
or an association with which they are affiliated.
- Health Insurance - Covers financial losses incurred by sickness
or accidental bodily harm. Provides payment for benefits which
cover illness or injury. Includes accident insurance, disability
income insurance, medical expense insurance, and accidental
death and dismemberment insurance.
- Individual Insurance – Covers the policyholder and
his or her family. Sometimes called Personal Insurance.
- Insurance – A corporation pays medical expenses of
a policy holder in exchange for a regular payment.
- Long-Term Care - Maintenance and health services for the
chronically ill, disabled, or mentally ill. May be inpatient,
outpatient, or at-home.
- Major Medical Expense Insurance - Insurance that covers
most medical expense up to a high maximum.
- Medical Expense Insurance - Insurance that covers expenses
incurred for medical care. Covers expenses related to doctors,
hospitals, nursing, and related health services and supplies.
- Short-Term Health Insurance - Similar to individual and
family plans, with a prescribed length of coverage between
30 days and 1 year.
- Travel Accident Policy - Covers accidents while the policy
holder is traveling
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