Different Types of Health Insurance Policies

Learn of the different types of health insurance plans including private, family, group and medical cover.

The Various Types of Health Insurance

It is best to know what you are getting into before purchasing health coverage. Unlike a life policy which pays out on the death of the insured, this one pays for health care. It protects you from paying full costs of medical services when either sick or injured. Citizens of certain countries are under legal obligation to take out coverage. They choose a plan and pay a certain monthly rate or premium. There are various health care plans. These include, private, family, group and medical policy.

Private Coverage

This type of health insurance plan gives a person access to private hospitals and choice of doctor. It is further divides coverage into three types, namely; hospital private, ambulance private, and general treatment. You need to choose health plans that covers primary care physician medical expenses. Depending on the country of residence, the government covers one or all of these.

Family Coverage

One person, normally a parent, takes out this plan that can be used or redeemed by all members of the family. Unlike the private policy, insurance companies settle claims of all the members of a particular family that are included in the plan. You therefore need a preferred provider organization that offers good health insurance plans.

Group Insurance

This policy is for people working as a group. It covers company employees or members of other party. You therefore need a good health maintenance organization hmo to ensure best satisfaction. Premiums are deducted from workers pay or collected and paid in lump sum. The insurance company settles claims to more than one person that work together, but not blood related. There might be a point of service exclusive provider organization that will provide managed care. Some providers issue joint health and life insurance plans.

Medical Insurance

Many persons could be asking themselves the questions, what is medical insurance. Well, this is a type of health plan that covers all or part of the medical cost of an individual, family or a group of individuals. It also covers dental and vision expenses. These plans are available online.

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