Selecting the right family health insurance from a number of quotes is the most arduous task once you have decided to buy a family health plan. The business is now flourishing and you will find a lot of agents luring you with impressive packages. The right step is to understand the facts behind the quotes. There are a number of health insurance plans available, but you must know that the term health insurance is very general. It incorporates a lot of plans, from one that covers medical bills to plans that pay for long-term care. When we hear of health plans, the general term that comes first is the fee-for-service plan. The others include managed care plans from the health maintenance organizations or HMOs, preferred provider organizations or PPOs, and the point-of-service. In the fee-for-service plan you have to pay the medical practitioner a fee for the consultation or the medical service he provides you. The doctor, the hospital or you can claim the reimbursement for the covered services under this insurance. Fee-for-service policies reimburse only 80% of your expenses; you have to pay the rest 20%. This portion of the medical expenses that you bear is called the co-insurance. The next type of plan is managed care. The managed care plans also give comprehensive health care for their members. In managed care plans you need not pay a fee for the service; instead, it is pre-paid. HMOs or health maintenance organizations provide managed care plans. This is one of the affordable health insurance policies. The HMO will charge you a monthly or quarterly premium. As extras you have to pay only small amounts of co-payments, and there is no co-insurance or deductibles. You are entitled to visit any doctor who has contract with the HMO. The other is the preferred provider organization (PPO), which combines the features of the fee-for-service plan and the benefits of the HMO. Here the member can choose a doctor from a network of doctors registered with the PPO. A co-payment is there for certain services or visits, and you have to pay a deductible too. The payment is divided between the insured and the insurance company on a mutually agreed ratio. The point of service (POS) is the last one, which is similar to the HMO services, but there is a coordinating physician who will refer you to a specialist. Whatever be the plan, you have to be careful when selecting a quote. If you really want an affordable quote, it is better to go online and search for some time. Here the winner will be you, and not the insurance provider. |
