Health insurance is, in essence, a promise by an insurance
company or health plan to present or pay for health care services in return for
payment of premiums.
By means of group plan at work, through another group
affiliation (a school, a club, etc.), or by purchasing an individual plan on
your own, you may get health insurance. You may even be able to customize the
health plan by purchasing an individual plan on your own. In order to find the
best plan and rate to meet your requirements, shop online to compare rates from
several companies.
With the insurance company, you purchase an individual
policy directly.
The group is the master insured and the insurance company contracts with the
group with a group health insurance policy. Insurance certificates, issued to a
contributing member, act as your policy.
Had the insurance company sold individual policies to each
member separately, group health insurance often costs less than would have been
charged. Additionally, special coverage that are not available or are very
expensive on an individual basis are offered by group health insurance policies.
The purchasing power of the group makes this economically viable.
What should be covered?
Several types of coverage are offered by good health insurance policy.
- For
visits to a doctor's office or for a doctor's hospital visits, physicians'
expense insurance pays.
- Extremely
broad coverage with a very high maximum benefit that's designed to protect
you against losses from catastrophic illness or injury is offered by major
medical insurance.
- Your
room, board, and incidental services costs if you're hospitalized are
covered by hospital expense insurance.
- Surgeons'
fees and related costs associated with surgery are covered by surgical
expense insurance.
What might be covered?
Check to see when comparing health insurance plans whether they provide
additional benefits that you may require, including:
-
Mental
health benefits
- Maternity
care
- Vision
care
- Prescription
drugs
- Preventive
care
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