An Overview of Healthcare Insurance Plans
Health care insurance is simply an insurance which covers a part or the full extent of an individual’s risk in spreading the cost of healthcare over a number of persons, hence termed as the “group” or “whole” risk. The cost of a particular health insurance policy depends on the individual’s health history, age and present state of health. Group insurance plans can be tailor made for the best benefit to the employers by including the needs of the employers, beneficiaries and other people. You can get more information about Doctors disability insurance.
There are a number of types of health insurance plans available, depending on your current health status and also the type of job you are working at. These group insurance plans are very beneficial and can also save you money as well as provide a secure life cover. The main benefit of group insurance plans is that there are no age limits and everyone is included, irrespective of sex. You will also receive maximum benefits and flexibility with such a plan. This also offers great peace of mind and helps in protecting the interests of both employers and their employees.
Health insurance policies are available in the form of individual healthcare insurance policies, where the premium amount is paid only for the health care expenses incurred by the insured individual. This means that an individual need not pay for his own treatment and if an accident occurs, he does not have to pay for it either. In other words, the insurance policy serves to protect the interests of both the employer and the employee, with both parties having equal protection under the law.
Individual insurance policies are usually less costly and flexible. They cover only a single illness or accident and do not cover any other diseases or injuries. If you are suffering from a disease which may require a long term treatment and a high cost, then individual insurance policies will work out best for you. These insurance policies generally come under the category of “marketplace exclusions”. They do not cover certain pre-existing conditions and have a limit on the number of trips you can make for a particular duration per year.
Many organizations offer group insurance policies. The benefit of these insurance policies is that there is a fixed structure, in which a certain number of individuals are grouped together on the basis of their age and sex. The cost of these plans is also comparatively lower as compared to individual healthcare insurance plans. It is a good idea to get a small group insurance policy if you are working in a large organization where the number of members is relatively big.
Large organizations often offer group insurance for their employees on the basis of their merits and performances. Group insurance policies are flexible and cover almost all types of health related problems. But if you want to enjoy a better quality of healthcare at a lower cost, then you should consider individual insurance plans. These are usually less expensive than group insurance plans. Therefore, if you are looking to buy healthcare insurance for the first time, then the best option would be to opt for individual insurance plans.