Finding The Perfect Health Insurance Plan for You and Your Family
Filed under: Family Financial, Family Health, Family Holiday, Family Life Insurance, Family Parenting, Family Tips
This makes finding the right health insurance policy a lot more difficult
Health Insurance Plan for Individuals
An individual health insurance plan, as the name implies, covers only one person. If you are not married or do not have any other person to worry about, an individual health insurance plan is the best option for you. Choose the individual health insurance plan according to your spending power and coverage you want.
An Indemnity Plan is a type of individual health insurance plan that gives you the freedom to choose any medical care provider. It’s a trade-off: your monthly premium will be expensive but you get to choose your doctor or medical institution to provide you the medical care you need.
HMOs, which are the most popular individual managed plans, do not offer you the freedom that an indemnity plan offers. If you go with an HMO, you can only choose a medical care provider You can pay extra and avail of dental and prescription drug coverage under both kinds of plans specified above.
Health Insurance for Family
Family health insurance plans are for families. Compared to individual health insurance policies, family health insurance plans cost higher. If you have a large family, your family health insurance cost will be higher too. Indemnity plans exist for families and offer the same freedom as for individuals. These are better because you are dealing with many people whose needs and medical needs may vary.
Managed care plans for families also exist. They have features very similar to managed health care plans for individuals. The cost will be higher but definitely less than the family indemnity plans.
Health Insurance Plan for Groups
Many employers offer their employees the benefit of insurance coverage. They pay the premium for their employees. The amount that you need to pay will depend on the policy you choose because companies offer both kinds of policies