Individual Medical Insurance Plans
Individual medical insurance plans are available to those who are self-employed, or for those who work for an employer that does not provide group medical benefits. These plans may come in many different forms and at various price levels. In order to best understand the individual medical insurance plan best suited to your needs, we'll take a look at your options below.
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Which type of medical insurance?
As you seek out the best individual medical insurance plan for you and your family, you'll find that you have four basic options. You can choose from indemnity medical insurance, HMO (health maintenance organization) plans, PPO (preferred provider organization) plans, or HSA (health savings accounts) plans.
What do all the different acronyms mean? The main difference among the types of medical insurance all comes down to choice and cost. The more flexibility or choice that you want from a policy, the more expensive it will be. Below is a brief description of each type of medical insurance policy and how they compare.
- HMO: Lowest cost, but choice and options are restricted. You must choose a primary care physician from within the network.
- PPO: Slightly higher cost. No primary care physician is required but you are encouraged through pricing to stay within the network.
- HSA: Special savings accounts that can be used with high-deductible/lower premium medical plans. Contributions to HSAs can be made tax-free.
- Indemnity Medical Insurance: Any doctor or hospital can be used. You are reimbursed directly and must cover the initial costs with the medical care provider. The basic plan can be quite inexpensive, but the costs add up quickly if a major medical condition arises.
Still confused about which medical insurance you need
A friendly and knowledgeable representative can answer all of your questions about the different types of medical insurance. They can also get quotes from multiple carriers and help you chose the insurance option that is best for you. To get started request an individual medical insurance plan here!
SOURCE
http://www.healthinsurancefinders.com/individual-health-insurance-plans.html
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