Compare Health Insurance Rates – Health care is a major issue today with debates in government and the private sector. Everyone wants an affordable health insurance. How do we get this? And do we sacrifice quality for cheapness?
Because of the high cost of health care, people have been looking for ways to save. This article would look at some plans and their weak and strong points so you can make an informed decision.
Traditionally, health insurance was basically the indemnity plan. Today however, we have the managed-care plan. Let’s look closely at them.
The traditional health plan (indemnity plan) by far the more popular offers you the freedom of choosing your doctor and hospital. All that is required of you is to pay your premium and when necessary, pay your deductible before the insurance company comes in with their contribution. This plan attracts a higher premium that others.
The high cost experienced with this plan brought about the introduction of the managed-care plan which offers lower rates.
Manged-care plans like Health Maintenance Organizations (HMOs), Preferred Provider Organizations (PPOs), Point of Service plans (POS) all offer a cheaper health plan. One thing the three have in common is that they all provide you with a network of doctors and hospitals.
There are of course a few differences between them which differences translate to more payments. HMOs offer the cheapest plan and you are not allowed to use a doctor or facility outside of the network. The PPO and POS offer a little more freedom which informs the higher rates.
Amongst all the plans listed above, the traditional plan provides the best coverage because there are some medical conditions that your managed-care plan can not handle. Like I said, the plan you choose should be based on your health insurance needs.
To improve your chances of saving, do not fail to compare health insurance rates. Get free quotes from comparison sites and compare health insurance rates offered by the different insurers whose quotes you receive. This is your first move towards saving.