Health insurance plans FAQ
1. How important is it to have a health insurance plan?
A. It is vital to have health insurance coverage. A health insurance provides insurance coverage against medical costs like hospitalization, medicines, treatments, preventive treatment, immunization etc. for this you have to pay a monthly premium to the insurance company. When you claim a bill you usually have to pay a deductible and co-insurance.
2. What is a deductible?
A. Deductible is the part of the bill that you have to pay and the rest is paid by the insurance company. for instance if the deductible in your health insurance plan is 100$ and if your medical bill comes to 2000$. Then you have to pay 100$ and the insurance company will reimburse you 1900$.
3. What is co-insurance?
A. Coinsurance is the percentage of bill which you have to pay. For instance if the coinsurance in your health insurance plan is 10%. Taking the earlier example you have to pay 100$ deductible + 190$ coinsurance. The rest 1710$ will be reimbursed by the insurance company.
4. Which is better family health insurance plan or individual health insurance plan?
A. Family health insurance plans work out cheaper as group insurance is cheaper than individual health insurance.
5. What is the difference between Indemnity plans and Managed health care plans?
A. Managed health care plans are cheaper as they provide the medical care through a network of doctors/hospitals who provide treatment at a concessional rate. However if you visit a doctor outside the network you have to pay the deductibles and co-insurance. There is less paperwork in managed health care plans and you don't have to pay the bill upfront. The doctor claims the costs from the insurance company. Indemnity plans are comparatively costlier but provide the flexibility of visiting any doctor or hospital you desire. You have to pay the bill yourself and then claim the costs from the insurance company.
6. What is the difference between basic and comprehensive coverage?
A. Basic coverage provides insurance cover for medical costs like hospitalization and surgery etc, whereas comprehensive coverage provides insurance cover for preventive medicines, routine visits, hospitalization, surgery, medicines etc. However comprehensive coverage is costlier.
. More useful content on LeanderNet - http://www.LeanderNet.com
A. It is vital to have health insurance coverage. A health insurance provides insurance coverage against medical costs like hospitalization, medicines, treatments, preventive treatment, immunization etc. for this you have to pay a monthly premium to the insurance company. When you claim a bill you usually have to pay a deductible and co-insurance.
2. What is a deductible?
A. Deductible is the part of the bill that you have to pay and the rest is paid by the insurance company. for instance if the deductible in your health insurance plan is 100$ and if your medical bill comes to 2000$. Then you have to pay 100$ and the insurance company will reimburse you 1900$.
3. What is co-insurance?
A. Coinsurance is the percentage of bill which you have to pay. For instance if the coinsurance in your health insurance plan is 10%. Taking the earlier example you have to pay 100$ deductible + 190$ coinsurance. The rest 1710$ will be reimbursed by the insurance company.
4. Which is better family health insurance plan or individual health insurance plan?
A. Family health insurance plans work out cheaper as group insurance is cheaper than individual health insurance.
5. What is the difference between Indemnity plans and Managed health care plans?
A. Managed health care plans are cheaper as they provide the medical care through a network of doctors/hospitals who provide treatment at a concessional rate. However if you visit a doctor outside the network you have to pay the deductibles and co-insurance. There is less paperwork in managed health care plans and you don't have to pay the bill upfront. The doctor claims the costs from the insurance company. Indemnity plans are comparatively costlier but provide the flexibility of visiting any doctor or hospital you desire. You have to pay the bill yourself and then claim the costs from the insurance company.
6. What is the difference between basic and comprehensive coverage?
A. Basic coverage provides insurance cover for medical costs like hospitalization and surgery etc, whereas comprehensive coverage provides insurance cover for preventive medicines, routine visits, hospitalization, surgery, medicines etc. However comprehensive coverage is costlier.
. More useful content on LeanderNet - http://www.LeanderNet.com
Use the feedback form below to submit your comments.
Use the form below to email this article to your friends.
- Common Health Insurance Plans Available to Jacksonville Residents
- Affordable Short Term Health Insurance Plans - Where to Get Them
- Affordable Health Insurance Plans
- Choosing a Syracuse Health Insurance Plan
- Health Insurance Plans: Private Health Insurance Guide
- The Top Five Health Insurance Plans
- The Hidden Costs In Your Health Insurance Plan
- Sorry, Your Health Insurance Plan Does Not Cover You For That
- Choose The Right Individual Health Insurance Plan
- Affordable Family Health Insurance Plan?
- What To Consider With Individuals And Families Low Cost Health Insurance Plans
- Why Is A Health Insurance Plan So Expensive?
- The Principles Of Group Health Insurance Schemes In Florida
- The Best Way To Apply For A Health Insurance Plan
- What is Stop Loss Insurance?
- Vision Insurance: Your Child’s Vision and Preparing for Unforeseen Problems
- Small Business Health Insurance Tips
- Small Business Health Insurance
- What is the difference between health insurance companies in California?
- An Answer to Sky High Health Insurance Premiums