• Glossary of Healt..
  • Medical savings h..
  • Choosing the righ..

Glossary of Health Insurance Terms

When it comes to shopping for health insurance, some of the terms can be confusing. If you aren't sure what they mean, follow the guide below for help. Here are five common terms (a short glossary of health insurance terms) that you'll run into when choosing a policy that's right for you:

  • Group Health Insurance: This is health insurance that is typically seen in the workplace, covering all individuals within a group. It can also be obtained through an association, and many states allow an individual to be considered a group of just one so that they can obtain coverage. When an employer is not backing group health insurance, the out-of-pocket expense paid by the individual can be quite exorbitant.
  • Guaranteed Issue Health Insurance: Just as the name implies, this is health insurance that must be issued to you regardless of your health, age, or any other reason. Many people prefer this to regular health insurance because it can never be revoked as long as the premium remains paid. Many people with pre-existing conditions will choose these policies over the others due to the fact that many guaranteed issue plans will cover their pre-existing conditions, minus a probational period of six months to one year. However, if you’re not in the best of health or are concerned that your other factors may count against you in getting health coverage, then guaranteed issue is the only way to go.
  • Indemnity Health Insurance: This is a health plan based on an older model of health insurance. Most commonly, an individual would pay a percentage for health services (typically 20%), and the insurance company would pay the remainder. Some of these “fee for service” plans are still available, but many have been replaced by the HMO/PPO/POS systems of today.
  • Individual Health Insurance: This is often called “regular” health insurance, where an individual or family seeks coverage independently through an insurance company without the benefits of being in a group or association. Typically, premiums are higher than group or even guaranteed health insurance. It is sold through private insurance companies.
  • Medigap Insurance: These policies are designed for individuals with Medicare, aged 65 and older. They cover the things that regular Medicare will not cover, such as copayments, coinsurance, deductibles, international travel emergencies, preventive care, and others. Basically, the term is in the name — “Medi” for Medicare, and “gap” for the gap left with basic Medicare coverage. Medigap insurance is sold through private insurance companies, and there are 15 different Medigap benefit packages to choose from.
When you're shopping for health insurance, and you aren't sure which plan you should pursue, use this brief glossary of health insurance terms to help you decide. If you're like many people who have pre-existing conditions, you'll note that many insurance policies will not cover your condition, if they even extend a medical policy to you at all. If this is the case, you'll want to invest in a guaranteed health insurance plan, which will likely cover your pre-existing condition (some don't for the first few months, but kick in later with coverage).

 

Medical savings health plan

Savings on Medical Health Plans

Though there are several health insurance plans or health card options available in the market these days, not every plan provides you a complete coverage. Majority of the insurance plans provide limited indemnity, which covers only 50% of the expenses. But with the increase in the rates of drugs and other essentials, you may not be able to afford even the remaining 50% of your medical expenses, which may include your drug bills, hospital expenses, the required test strips and syringe for your diabetic test, etc.

Savings on Medical Plans

A good medical savings health plan, when combined with the conventional guaranteed health insurance, could really be a boon for you. Such a plan would certainly keep your expenses for prescription drugs and doctor’s visits within affordable limits.

The Best Health Plan

It is easy for you to pick the right medical health plan when you understand what really a best health plan would offer you. Here are some pointers to keep in mind:

  • Coupled with a medical insurance plan, the best health plan can offer you huge savings on your medical expenses.
  • The best health plan offers huge discounts on prescription drugs, as well as expenses on health care assistance.

 

  • A guaranteed health plan provides you with instant coverage during any emergency situation.
  • Backed by contractual obligations with quality pharmacies and doctors, medical savings health plans let you enjoy up to 50% discount on doctor's visits and prescription drugs. This way, you no longer need to get bogged down by spiralling medical costs.

 

  • Such medical plans can also help you enjoy considerable savings on surgery costs, check-ups, hospital stays, blood tests, x-rays, and much more.

Pitfalls

Some dishonest merchants posing as real insurance agents or providers may lure unsuspecting people into buying medical savings health plans that provide non-realistic promises of discounts. Such scam plans often substitute non suitable generic drugs for branded drugs and do nothing more. So, you should beware of such medical heath plans that simply exchange one problem for another and don’t really help you manage your healthcare expenses.

Conclusion

Make an informed decision to select the most reliable and guaranteed health plan, which can help you save a lot on your medical bills.  

 

Choosing the right health insurance

Choosing the Right Health Insurance Stressfree

Too often one feels rushed into buying health insurance & end up choosing the wrong plan for them. Know the facts before making a selection.

 Health Insurance Companies

In today’s age of information overload where a deluge of private, public, and community programs are available to meet your healthcare coverage needs, it really becomes a daunting task to sift through all the available information and select the one that best suits your needs and budget. This is why finding affordable health insurance companies become important. Since no two plans are the same, you need to get a quote from multiple companies, compare the rates and other factors before selecting one.
Picture: Decision making” Finding Health Insurance can be very stressful”

Pitfalls of choosing in a hurry

In their hurry, people often end up choosing the first plan that they come across, or select plans that they later find doesn’t cover a sudden major medical expense. To avoid such pitfalls, you should invest in comprehensive and affordable health insurance from reputed health insurance companies. Remember – your health is your most important personal asset, and you shouldn’t leave yourself to the mercy of fate. 
 Steer clear of detrimental situations by seeking clear, professional advice from reliable and reputed insurers and agents of insurance companies. You can also opt for guaranteed health insurance plans that offer pre existing health insurance coverage in case your claim for a standard health insurance is denied.

Choosing the right insurance company: Things to know

Picture: Couple on computer “Finding Health Insurance should be a stress free task. Let us do the hard work”

In order to choose the right insurance company and the ideal health insurance plan, you should have adequate knowledge about:

  • Your rights and consumer protection
  • Available insurance choices (like PCIP - Pre-Existing Condition Insurance Plan, Young Adult Coverage, CO-OP Insurance Plans and Affordable Insurance Exchanges – the last two being about to start from 2014 under the Affordable Care Act)
  • Insurance costs
  • Tax credits and new programs available to organizations and businesses

Knowing about your choices as a consumer, and knowledge about rules and regulations that hold insurance companies accountable will help you select the right insurance company and affordable health insurance plans that meet your needs.

 

Glossary of Health Insurance Terms

When it comes to shopping for health insurance, some of the terms can be confusing. If you aren't sure what they mean, follow the guide below for help. Here are five common terms (a short glossary of health insurance terms) that you'll run into when choosing a policy that's right for you:

  • Group Health Insurance: This is health insurance that is typically seen in the workplace, covering all individuals within a group. It can also be obtained through an association, and many states allow an individual to be considered a group of just one so that they can obtain coverage. When an employer is not backing group health insurance, the out-of-pocket expense paid by the individual can be quite exorbitant.
  • Guaranteed Issue Health Insurance: Just as the name implies, this is health insurance that must be issued to you regardless of your health, age, or any other reason. Many people prefer this to regular health insurance because it can never be revoked as long as the premium remains paid. Many people with pre-existing conditions will choose these policies over the others due to the fact that many guaranteed issue plans will cover their pre-existing conditions, minus a probational period of six months to one year. However, if you’re not in the best of health or are concerned that your other factors may count against you in getting health coverage, then guaranteed issue is the only way to go.
  • Indemnity Health Insurance: This is a health plan based on an older model of health insurance. Most commonly, an individual would pay a percentage for health services (typically 20%), and the insurance company would pay the remainder. Some of these “fee for service” plans are still available, but many have been replaced by the HMO/PPO/POS systems of today.
  • Individual Health Insurance: This is often called “regular” health insurance, where an individual or family seeks coverage independently through an insurance company without the benefits of being in a group or association. Typically, premiums are higher than group or even guaranteed health insurance. It is sold through private insurance companies.
  • Medigap Insurance: These policies are designed for individuals with Medicare, aged 65 and older. They cover the things that regular Medicare will not cover, such as copayments, coinsurance, deductibles, international travel emergencies, preventive care, and others. Basically, the term is in the name — “Medi” for Medicare, and “gap” for the gap left with basic Medicare coverage. Medigap insurance is sold through private insurance companies, and there are 15 different Medigap benefit packages to choose from.
When you're shopping for health insurance, and you aren't sure which plan you should pursue, use this brief glossary of health insurance terms to help you decide. If you're like many people who have pre-existing conditions, you'll note that many insurance policies will not cover your condition, if they even extend a medical policy to you at all. If this is the case, you'll want to invest in a guaranteed health insurance plan, which will likely cover your pre-existing condition (some don't for the first few months, but kick in later with coverage).

 

Medical savings health plan

Savings on Medical Health Plans

Though there are several health insurance plans or health card options available in the market these days, not every plan provides you a complete coverage. Majority of the insurance plans provide limited indemnity, which covers only 50% of the expenses. But with the increase in the rates of drugs and other essentials, you may not be able to afford even the remaining 50% of your medical expenses, which may include your drug bills, hospital expenses, the required test strips and syringe for your diabetic test, etc.

Savings on Medical Plans

A good medical savings health plan, when combined with the conventional guaranteed health insurance, could really be a boon for you. Such a plan would certainly keep your expenses for prescription drugs and doctor’s visits within affordable limits.

The Best Health Plan

It is easy for you to pick the right medical health plan when you understand what really a best health plan would offer you. Here are some pointers to keep in mind:

  • Coupled with a medical insurance plan, the best health plan can offer you huge savings on your medical expenses.
  • The best health plan offers huge discounts on prescription drugs, as well as expenses on health care assistance.

 

  • A guaranteed health plan provides you with instant coverage during any emergency situation.
  • Backed by contractual obligations with quality pharmacies and doctors, medical savings health plans let you enjoy up to 50% discount on doctor's visits and prescription drugs. This way, you no longer need to get bogged down by spiralling medical costs.

 

  • Such medical plans can also help you enjoy considerable savings on surgery costs, check-ups, hospital stays, blood tests, x-rays, and much more.

Pitfalls

Some dishonest merchants posing as real insurance agents or providers may lure unsuspecting people into buying medical savings health plans that provide non-realistic promises of discounts. Such scam plans often substitute non suitable generic drugs for branded drugs and do nothing more. So, you should beware of such medical heath plans that simply exchange one problem for another and don’t really help you manage your healthcare expenses.

Conclusion

Make an informed decision to select the most reliable and guaranteed health plan, which can help you save a lot on your medical bills.  

 

Choosing the right health insurance

Choosing the Right Health Insurance Stressfree

Too often one feels rushed into buying health insurance & end up choosing the wrong plan for them. Know the facts before making a selection.

 Health Insurance Companies

In today’s age of information overload where a deluge of private, public, and community programs are available to meet your healthcare coverage needs, it really becomes a daunting task to sift through all the available information and select the one that best suits your needs and budget. This is why finding affordable health insurance companies become important. Since no two plans are the same, you need to get a quote from multiple companies, compare the rates and other factors before selecting one.
Picture: Decision making” Finding Health Insurance can be very stressful”

Pitfalls of choosing in a hurry

In their hurry, people often end up choosing the first plan that they come across, or select plans that they later find doesn’t cover a sudden major medical expense. To avoid such pitfalls, you should invest in comprehensive and affordable health insurance from reputed health insurance companies. Remember – your health is your most important personal asset, and you shouldn’t leave yourself to the mercy of fate. 
 Steer clear of detrimental situations by seeking clear, professional advice from reliable and reputed insurers and agents of insurance companies. You can also opt for guaranteed health insurance plans that offer pre existing health insurance coverage in case your claim for a standard health insurance is denied.

Choosing the right insurance company: Things to know

Picture: Couple on computer “Finding Health Insurance should be a stress free task. Let us do the hard work”

In order to choose the right insurance company and the ideal health insurance plan, you should have adequate knowledge about:

  • Your rights and consumer protection
  • Available insurance choices (like PCIP - Pre-Existing Condition Insurance Plan, Young Adult Coverage, CO-OP Insurance Plans and Affordable Insurance Exchanges – the last two being about to start from 2014 under the Affordable Care Act)
  • Insurance costs
  • Tax credits and new programs available to organizations and businesses

Knowing about your choices as a consumer, and knowledge about rules and regulations that hold insurance companies accountable will help you select the right insurance company and affordable health insurance plans that meet your needs.