You should give careful thought & consideration to your decision to purchase health insurance to ensure that you are adequately covered at all times. In order to ensure that you have selected the right health insurance plan you should have ample knowledge about this domain.
Health Plan vs. Health Insurance
Although traditional indemnity health care plans have been quite popular for a long time people are slowly realizing the benefits of managed care plans. This debate over health plan vs. health insurance has gained importance during the present economic slowdown since you can significantly save on premiums by selecting the right plan. Managed healthcare is a system that aims to offer high-quality healthcare services at the most affordable prices.
Health Maintenance Organization (HMO) is one of the most popular managed healthcare plans due to the various benefits available to its members. HMOs have a network of healthcare providers who offer quality healthcare services in return for a nominal fee. One of the benefits that make HMO plans popular is that there are no limits to the life benefits available to the members. Further, HMO members have to pay few to no deductibles & co-payments and are provided medical care irrespective of the expenses involved.
Comprehensive vs. Scheduled
Other health care options available to you are comprehensive health insurance and scheduled health insurance. Insurers offer comprehensive health insurance plans in return for a periodic premium along with other charges such as deductibles and co-payments. One of the major advantages of comprehensive health insurance is that the members are covered for a wide variety of medical conditions under one policy thereby resulting in enhanced protection. On the other hand, scheduled health insurance or association health insurance is offered to people who are part of an association. Finally, while deciding on the insurance coverage that best suits your requirements it is important that you give factors, such as coverage available and the financial stability of the insurer.