Why Health Insurance?
The primary purpose of health insurance is to help you with the cost of care. Constant improvements in the medical and pharmaceutical fields have affected the cost of care and consequently our pocket.
Health insurance helps you with preventive care such as vaccination and screenings.
You may be healthy now, but any sudden or severe illness can leave you with staggering medical bills.
So, most importantly, the main reason for having health insurance is the fact that we cannot predict what medical needs we may have.
Types of Health Insurance
There are different types of Health Insurance plans available today. Between what the Federal and local governments offer and the packages private providers supply, the field has become crowded and a bit confusing. Generally, we can categorize Health Insurance plans into:
- Health Maintenance Organizations (HMO)
- Preferred Provider Organization (PPO)
- Exclusive Provider Organization (EPO)
- Point-of-Service Plan (POS)
- High Deductible Health Plan (With or Without Health Saving Accounts)
How Are These Plans Different?
Each plan pays a set share of costs for the average enrolled person. The details vary across plans. Also, deductibles (the amount you pay before your plan picks up 100% of your health care costs) is different based on each plan. Usually, the cheapest plan carries the highest deductible:
- Platinum: covers 90% of your medical expenses, you pay 10%
- Gold: covers 80% of your medical expenses, you pay 20%
- Silver: covers 70% of your medical expenses, you pay 30%
- Bronze: covers 60% of your medical expenses, you pay 40%
How We Can Help
When it comes to shopping and deciding on a Health Plan, you have choices. But the rising costs, the unpredictability of life and the convoluted marketplace for health plans do not make the selection process easy. We can help:
- We ensure the policy you buy provides adequate coverage for you and your family.
- We help you compare plans, not just by their cost, but their features and benefits.
- We will show you how the network of hospitals and medical facilities in your area work and how their rates affect your out of pocket share.