Best Health Insurance Policy – Tips For Finding the Best Health Insurance Plan
The best health insurance policy is a must-have to provide you with optimum coverage. There are different types of health care plans available in the market to choose from. You can compare & choose the best health insurance policy for yourself or your entire family which would definitely cover all medical costs including post & pre-hospitalization costs, rehabilitation treatment, critical care hospitalization, prescription treatment, etc.
Each health insurance company provides different benefits. However, they provide high-quality services under one roof. A person’s annual medical examination is the most basic step to assess his health. It helps to determine the chances of a person falling ill or becoming seriously ill. Therefore, it is important to choose the best health insurance plans based on this simple yet crucial step.
There are three basic types of health insurance plans-the catastrophic, the managed care and the standard health insurance plans. It depends on your choice that which type of plan suits your needs. Here are the different types of health insurance plans offered by leading health insurance companies-the basic, the silver, the bronze and the gold tier.
According to the National Association of Insurance Commissioners, the four best health plans are HMO’s (Health Maintenance Organizations), PPOs (Preferred Provider Organizations), MRPs (Medical Repositories) and POSs (Point of Service) – HMO. HMOs offer low-cost health plans for one individual or a group of individuals. The main advantages of HMO health plans are that it has lower premiums and has wider access. The main disadvantage is that the member should maintain a minimum health care cover to avoid any unexpected situations.
PPOs or Preferred Provider Organizations also known as Preferred Provider Organizations, work on the principle of mutuality between health care providers and health insurance companies. A member must choose a primary care physician and get a referral from him. The member may then choose any doctor who accepts the pay-for-service scheme from the PPO. A PPO works on the principle that the costs of health plans should not be associated with the federal poverty level or with the health care needs of a family.
The next two health insurance plans are the silver and the gold tier. The silver plan provides extensive coverage at affordable premiums. It is great if you are healthy and do not have any serious medical conditions. The gold plan, however, gives more benefits to senior citizens than usual. It also has an average cost of premiums that are less than those of the silver plan.
The third type of health plan is the platinum health plan. This is the most expensive among the three because it covers almost every possible medical costs. The federal poverty level requirement for Platinum Plans is around 45 percent. If your annual income is less than this, you may not be eligible for the plan. One of the best things about this health plan is that you can save money on deductibles and premiums. This allows you to save more money each month for other necessary expenses.
Lastly, we will look at the gold and silver tiers of health insurance plans. They have an average cost of premiums and deductibles, which are moderately higher than those of the platinum plans. The good thing about them is that they have extensive coverage while still being relatively cheap.
Most health insurance plans today offer different options depending on your monthly income and lifestyle. This means that there are various types of health plans available for different needs. For example, if you have a high-income but a low-spending lifestyle, you may want to opt for the silver or gold plan. This type covers the major medical costs and some prescription drugs. The bronze plan would be ideal for you if you only have a medium-income but a high-spending lifestyle.
So how do you choose the best health plan? You need to first determine your monthly income. Then you need to analyze your lifestyle. Most importantly, think of how you want to pay for your health insurance. There are a lot of factors that can affect your health care such as how healthy you are and your current health condition. With these factors in mind, you will be able to find out the best health plan that is suited for you.
When you have chosen the right health plan, there are still things that you can do to ensure that you will get the best health coverage for you. One of them is to ask for quotes from different companies. It is very important that you compare different health insurance policies so that you will be able to find the best health policy that is suitable for you. Remember that not all health plans would suit your lifestyle and budget. It is also very important that you think carefully about your decision so that you will end up with a healthy and financially sound body at the end of the day.