Close Menu
My URL ProMy URL Pro

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Truck Accident Attorneys: 4 Signs Of A Trustworthy Law

    December 9, 2023

    How to Organize and Declutter Your Living Space Effectively

    December 8, 2023

    Embracing Logistics Technology: The Key to Business Success in Last-Mile Delivery and Cross-Docking

    December 8, 2023
    Facebook X (Twitter) Instagram
    • Technology
    • Home Improvement
    • Business
    • Gaming
    • Lifestyle
    • Home Improvement
    Facebook X (Twitter) Instagram
    My URL ProMy URL Pro
    • Home
    • Business

      Embracing Logistics Technology: The Key to Business Success in Last-Mile Delivery and Cross-Docking

      December 8, 2023

      The Power of Affordable Accounting Services for Small Businesses

      December 8, 2023

      Crafting Clarity: Your Ultimate Guide to Help with Report Writing

      December 6, 2023

      Introduction to Business Intelligence

      December 5, 2023

      Link Building Techniques for Law Firms: Building a Strong Online Presence

      December 5, 2023
    • Technology
    • Home Improvement
    • Lifestyle
      • Health
      • Fashion
      • Travel
      • Food
      • Pets
    • More
      • Sports
      • World
      • Gaming
      • Real Estate
      • Digital Marketing
      • Finance
      • Automobile
      • Law
      • Education
    My URL ProMy URL Pro
    Home » Health » The Different Types of Health Insurance : A Complete Guides
    Health

    The Different Types of Health Insurance : A Complete Guides

    raihanBy raihanApril 22, 2021Updated:August 13, 2023No Comments6 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
    The Different Types of Health Insurance : A Complete Guides
    Share
    Facebook Twitter LinkedIn WhatsApp Pinterest Email

    Last Updated on August 13, 2023 by asifa

    Recent research suggests that a stay in intensive care could cost as much as $10,000 per day. That’s enough to send chills down the spine of everyone but the wealthiest individuals.

    Nowadays, the possibility of having to spend time in one of these high-care facilities is at an all-time high too.

    If you’re worried about having to pay for your medical expenses on your own, you should consider these different types of health insurance to put your mind at ease.

    Table of Contents

    • The Main Kinds of Health Insurance
      • Public Health Insurance Options
        • Medicare
        • Medicaid
        • CHIP
    • Different Types of Health Insurance From Private Insurers
      • HMO – Health Maintenance Organization Plans
      • PPO – Preferred Provider Organization Plans
      • EPO – Exclusive Provider Plans
      • POS – Point-Of-Service-Plans
        • Indemnity Health Plans
    • Make the Best Choice for Your Needs

    The Main Kinds of Health Insurance

    There are two main types of health insurance overall. These are public and private.

    The federal government offers the first type, and you get private health insurance from an insurance company or your employer.

    Public Health Insurance Options

    Public health insurance plans offer medical treatment at a reduced cost thanks to government funding. Members of these healthcare programs still pay monthly premiums and some costs, such as deductibles and out-of-pocket expenses.

    There are three main types of government-funded health insurance. These are:

    Medicare

    Medicare’s available to all US citizens over the age of 65. There are four main types of Medicare:

    • Part A pays most of the costs for hospital care, nursing facility care, and home health care
    • Part B covers preventive care, extra doctor’s services, outpatient care, and medical supplies
    • Part C for Medicare Advantage plans offered by private insurers
    • Part D that pays for prescription drugs

    You can also get supplementary insurance options via Medicare to cover some of your extra expenses.

    The different parts of Medicare have varying premiums and separate enrolment periods. Unless you make alternative arrangements, you’re automatically enrolled in Medicare on your 65th birthday.

    Most people contribute to Medicare costs while they’re employed and enjoy premium-free membership of this scheme.

    Read More: Basics of Medicare Supplement Plans That Every Senior Citizen Should Know

    Medicaid

    Medicaid is another federal healthcare initiative for vulnerable and low-income Americans. It provides very low-cost healthcare coverage and long-term care for people who genuinely can’t afford it.

    You’ll need to meet certain financial criteria to qualify for Medicaid.

    CHIP

    The Children’s Health Insurance Program is basically Medicaid for children under the age of 18. Medicaid and CHIP are state-run, so the requirements for enrollment and benefits may vary from place to place.

    Different Types of Health Insurance From Private Insurers

    Whether you get health insurance from your employer or buy it from a private insurer, usually via the ACA marketplace.

    Each private healthcare plan must cover ten basic health benefits.

    These are:

    • Outpatient services
    • Prescription drugs
    • Pediatric services including vision and dental care
    • Preventive care
    • Laboratory services
    • Emergency care
    • Hospitalization for any reason
    • Mental health and substance use disorder services
    • Habilitative and rehabilitative services
    • Maternity, pregnancy, and neonatal care

    In addition to these basics, the insurer can provide whichever additional benefits they want. When you choose health insurance, you’ll always pay more if you want more benefits. So if you get your crown fitted by the best dentist in Marlborough, make sure you know your insurance covers that.

    That said, individual health insurance options are often more affordable than group insurance plans.

    There are four major varieties of private health insurance offered by both group and individual insurers. These are:

    HMO – Health Maintenance Organization Plans

    These plans use a primary care provider as your main source of medical assistance.

    You need to choose your primary care provider from a list of options when you sign up. You always need to visit these professionals first before you see a specialist.

    HMOs usually cover a wider range of preventive services than the other plans, offer lower premiums, and don’t usually charge a deductible before coverage starts. Enrollees will usually need to contribute a copayment.

    Coverage doesn’t extend outside of the HMO network without prior authorization.

    PPO – Preferred Provider Organization Plans

    When you opt for a PPO, you don’t need to specify a primary healthcare provider at the outset. However, if you want to use medical services outside of the network, you’ll need to pay higher premiums.

    There’s an annual deductible before your insurer starts paying your medical bills and you might also have to contribute a certain co-payment or co-insurance toward treatment.

    You’ll also pay higher out-of-pocket costs for services outside the network.

    EPO – Exclusive Provider Plans

    EPOs are like HMOs in many ways. With exclusive provider plans, you can also only see doctors within the network, but you don’t need a referral to do so.

    Co-payments are cheap with these types of plans, but you may need to reach a deductible before cover starts, depending on the plan chosen.
     
     This is an affordable choice when it comes to monthly premiums, but it gets expensive in the event of unplanned medical treatment.

    POS – Point-Of-Service-Plans

    POS coverage combines some benefits of both HMO and PPS pans. With these plans, you need to choose a primary care physician upfront and get a referral for specialist treatment. You’ll also need pre-authorization for certain medical procedures.
     
     You may receive higher coverage if you use services referred by your PCP, but you’ll pay a deductible if you use the services of an out-of-network provider.
     
     With these plans, you might have to pay for your treatment upfront and then submit a claim for reimbursement.

    Indemnity Health Plans

    These fee-for-a-service plans pay pre-determined costs toward healthcare for their members. They may contribute a certain amount of money or a percentage of the total amount depending on the services you use.
     
     Members usually have to comply with deductibles as well as coinsurance payments. With these plans, members also pay upfront and then claim the covered amount back from their insurer.

    Make the Best Choice for Your Needs

    Of all the different types of health insurance, the best one for you is the one that offers a range of services that suits your individual needs.
     
     Medical care’s an expensive problem if you don’t have coverage, so it’s well worth putting up with all the extra charges and requirements put in place by health insurers.
     
     If you’re curious about other health-related topics, browse some more of our articles.

    Share. Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
    raihan

    Related Posts

    Top 5 Challenges Faced by Med Spa Practitioners and How to Overcome Them

    December 8, 2023

    Podiatry: A Comprehensive Guide

    December 8, 2023

    Money and Mental Health: How Financial Well-Being Impacts Your Life

    December 6, 2023

    Emerging Technologies in Neurosurgery

    December 1, 2023

    The Role of a Holistic Medicine Specialist in Mental Health

    November 27, 2023

    Unlocking the Power of LLM Models: Tailored Customer Interactions for Every Industry

    November 24, 2023
    Add A Comment

    Comments are closed.

    Recent Posts
    • Truck Accident Attorneys: 4 Signs Of A Trustworthy Law
    • How to Organize and Declutter Your Living Space Effectively
    • Embracing Logistics Technology: The Key to Business Success in Last-Mile Delivery and Cross-Docking
    Don't Miss

    Truck Accident Attorneys: 4 Signs Of A Trustworthy Law

    By davidharnoldDecember 9, 2023

    If you’ve been involved in a serious truck accident, you’re likely overwhelmed with medical bills,…

    How to Organize and Declutter Your Living Space Effectively

    December 8, 2023

    Embracing Logistics Technology: The Key to Business Success in Last-Mile Delivery and Cross-Docking

    December 8, 2023

    Top 5 Challenges Faced by Med Spa Practitioners and How to Overcome Them

    December 8, 2023
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    Our Picks

    Truck Accident Attorneys: 4 Signs Of A Trustworthy Law

    December 9, 2023

    How to Organize and Declutter Your Living Space Effectively

    December 8, 2023

    Embracing Logistics Technology: The Key to Business Success in Last-Mile Delivery and Cross-Docking

    December 8, 2023

    Top 5 Challenges Faced by Med Spa Practitioners and How to Overcome Them

    December 8, 2023

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    Top Picks
    • Technology
    • Home Improvement
    • Business
    • Gaming
    • Lifestyle
    • Home Improvement

    Truck Accident Attorneys: 4 Signs Of A Trustworthy Law

    December 9, 2023

    How to Organize and Declutter Your Living Space Effectively

    December 8, 2023
    About Us

    Hi, Welcome to My URL Pro. My URL Pro is a news and updates website which uploads only official and authentic content. My URL Pro was founded in 2019 by Abdul Waheed.
    Contact us: [email protected]

    Facebook X (Twitter) Instagram Pinterest
    • Home
    • About
    • Contact Us
    • Privacy Policy
    © 2023 All rights reserved by My URL Pro.

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
    Cookie SettingsAccept All
    Manage consent

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
    Necessary
    Always Enabled
    Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
    CookieDurationDescription
    cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
    cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
    cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
    cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
    cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
    viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
    Functional
    Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
    Performance
    Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
    Analytics
    Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
    Advertisement
    Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
    Others
    Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
    SAVE & ACCEPT
    Go to mobile version