The Health Insurance 101
It can be scary to get sick, with the doctor's visits, medication and the feeling that you don't quite know exactly what is going on.
However, possibly more frightening than that is going through all that without the safety net of health insurance to lighten the amount of medical costs you will incur through inevitable treatment and care.
There are roughly 46 million people in the U.S. currently living with no health insurance, and while the government is working on a way to reform the healthcare industry, a new kind of healthcare plan may still be a couple of years away.
For the uninitiated, this may be a good time to get familiar with the basics of healthcare because aside from some its confusing aspects, it's more important to live with health insurance than live without it.
Do I need healthcare insurance?
Without health insurance, a person or family may be forced to incur the full costs of their doctor's visits and hospitalizations, which can quickly accumulate to a small fortune. Also, it isn't enough to just get treatment when you are sick. Preventative care is another important element of healthcare and could save on costs in the future.
Getting regular checkups and physicals with a doctor within your healthcare network can ensure that you are keeping an eye on your body and maintain optimal health.
The last, people who are under a health insurance plan will pay less for doctor's visits and hospitalizations when compared to people who are not enrolled in a plan. And given the current state of the economy, isn't the name of the game being fiscally responsible?
How does this system work?
In a typical healthcare plan, which is called a fee-to-service plan, an enrollee pays a monthly premium (which is like a monthly subscription for a certain service) and when the patient has to visit a doctor or a hospital, the health insurance provider pays a portion of the bill.
Which plan is for me?
A Good question and it's one that only you can answer since there's a lot of different factors that go into choosing a healthcare plan.
One thing to keep in mind is a term called "pre-existing conditions." If you had a known illness or injury prior to you signing up for healthcare, it may affect your coverage. Some plans only consider a condition pre-existing if treatment was involved. Other plans may have a wider definition.
It's important to determine what exactly you need from a healthcare plan. Older people may want coverage that includes surgeries and prescription medication while younger people may be more inclined to embrace a plan that's more about preventative care.
Another element to factor in is whether or not you have a certain doctor you are comfortable with or a family doctor who knows your medical history well. Some healthcare plans have specific networks that only allow you to visit certain doctors, while others allow you to see whoever you choose.
The co-pay may be a bit higher for the out-of-network physician, but if it's with someone you trust, it may be worth it.
If you are between jobs and waiting for the start of your coverage from another health insurance, or if you are on strike or laid off, or if you are a seasonal employee or recent college graduate and your need is for only a specific period of time, short term health insurance may be a great option for you.
Who has these plans?
Most people in the U.S. get their healthcare insurance through the company they work for, which most likely has a relationship with a certain healthcare insurance provider.
However, some people like to investigate the kind of coverage a different provider has or may want to have health insurance that isn't tied to their job, in case they leave that company or get laid off.
In that case, some people have employed a health insurance agent to help them determine which public healthcare plan might be best for them.
Staying with the same healthcare plan may also help people avoid experiencing gaps in coverage if they lose their job. Gaps in coverage can be a potentially dangerous situation because you will be solely responsible for any medical bills.
It can be scary to get sick, with the doctor's visits, medication and the feeling that you don't quite know exactly what is going on.
However, possibly more frightening than that is going through all that without the safety net of health insurance to lighten the amount of medical costs you will incur through inevitable treatment and care.
There are roughly 46 million people in the U.S. currently living with no health insurance, and while the government is working on a way to reform the healthcare industry, a new kind of healthcare plan may still be a couple of years away.
For the uninitiated, this may be a good time to get familiar with the basics of healthcare because aside from some its confusing aspects, it's more important to live with health insurance than live without it.
Do I need healthcare insurance?
Without health insurance, a person or family may be forced to incur the full costs of their doctor's visits and hospitalizations, which can quickly accumulate to a small fortune. Also, it isn't enough to just get treatment when you are sick. Preventative care is another important element of healthcare and could save on costs in the future.
Getting regular checkups and physicals with a doctor within your healthcare network can ensure that you are keeping an eye on your body and maintain optimal health.
The last, people who are under a health insurance plan will pay less for doctor's visits and hospitalizations when compared to people who are not enrolled in a plan. And given the current state of the economy, isn't the name of the game being fiscally responsible?
How does this system work?
In a typical healthcare plan, which is called a fee-to-service plan, an enrollee pays a monthly premium (which is like a monthly subscription for a certain service) and when the patient has to visit a doctor or a hospital, the health insurance provider pays a portion of the bill.
Which plan is for me?
A Good question and it's one that only you can answer since there's a lot of different factors that go into choosing a healthcare plan.
One thing to keep in mind is a term called "pre-existing conditions." If you had a known illness or injury prior to you signing up for healthcare, it may affect your coverage. Some plans only consider a condition pre-existing if treatment was involved. Other plans may have a wider definition.
It's important to determine what exactly you need from a healthcare plan. Older people may want coverage that includes surgeries and prescription medication while younger people may be more inclined to embrace a plan that's more about preventative care.
Another element to factor in is whether or not you have a certain doctor you are comfortable with or a family doctor who knows your medical history well. Some healthcare plans have specific networks that only allow you to visit certain doctors, while others allow you to see whoever you choose.
The co-pay may be a bit higher for the out-of-network physician, but if it's with someone you trust, it may be worth it.
If you are between jobs and waiting for the start of your coverage from another health insurance, or if you are on strike or laid off, or if you are a seasonal employee or recent college graduate and your need is for only a specific period of time, short term health insurance may be a great option for you.
Who has these plans?
Most people in the U.S. get their healthcare insurance through the company they work for, which most likely has a relationship with a certain healthcare insurance provider.
However, some people like to investigate the kind of coverage a different provider has or may want to have health insurance that isn't tied to their job, in case they leave that company or get laid off.
In that case, some people have employed a health insurance agent to help them determine which public healthcare plan might be best for them.
Staying with the same healthcare plan may also help people avoid experiencing gaps in coverage if they lose their job. Gaps in coverage can be a potentially dangerous situation because you will be solely responsible for any medical bills.
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