It is a tiresome and troublesome work to get a health insurance plan, if you are a first time buyer. To make your work simplified, familiarize yourself with available health insurance plans, at least what the top-rung companies offer. If you know the extent of coverage provided by them and have a better understanding of your requirements, it will not be a daunting task to make an informed choice even though there are a plenty of offers all around. Have a quick look at the following tips that guide the first-time insurance buyers to get a plan that fits their needs.
Short-Term or Long-Term Plan
This is the first thing you should consider before buying a health insurance policy. Are you employed? If not but there is a chance of getting a job within next two or three months and your employer will provide a group health insurance policy, short-term policy may be the right thing for you. Most of the employers include new employees in group health insurance after they complete six months in a company.
Basic & Comprehensive Health Coverage
Basic health insurance policies provide coverage for out-patient surgery and in-patient admission to a hospital or nursing home in the event of fatal accidents or emergencies. These schemes fit those who are in need of coverage only in times of grave injuries or illness. Premium is generally lower for these policies.
Comprehensive health care policy works best for those with a history of recurring illness that require medical treatment. This policy is sort of a pro-active measure and covers hospitalization, out-patient surgery, Dr’s visit and prescription. Monthly premium is expectedly higher but the plan comes with lower co-pay for a doctor’s visit.
Classification of Health Insurance Plans
Health insurance plan can be classified into different categories depending on some crucial factors. On the basis of timing, it is of two types, short-term and long-term health insurance (already discussed above).
Then there are individual and family health care plans. The terms are self-explanatory. Family insurance plan provides coverage to more than one person and so goes well with a family guardian or head. Though monthly premium is higher, it is ultimately a cost-effective choice in view of what you will be getting for all the members in your family in a single policy.
There is another classification that categorizes health insurance plan into two types, indemnity and managed-care plans. The mode of bill payment, expenses and ability to select a health insurance company are some of the factors that distinguish these two types of health insurance. With indemnity, you will get a wider choice whereas in case of managed-care plan, out-of-picket expenses will be smaller and also minimal paperwork is required.
Selection of a Company
The potential borrowers are repeatedly recommended to deal with only a reputed health care plan provider; otherwise, they may end up paying a higher premium and even hidden charges in lieu of a limited amount of coverage. Shop around or search the internet, you will get what provides the best health care.