The two most important factors in a person's life are their health and time; one of course can help extend the other. We can spend many hours researching over what home or car insurance to use but it is our health which we should take more seriously.
A health insurance policy can be taken out buy an individual for himself or his family and while he continues to pay his regular premium, the insurance company will pay for medical treatment for sickness or injury. The area of cover is wide and it is rare to find a health policy that gives blanket cover for disability income, medical expenses, accidental death, loss of a limb (or limbs) or an accident for example. This allows for a great deal of flexibility when a person decides to arrange health protection as he or she can tailor make to suit their own situation.
The most basic of health insurance is known as a Fee-for-Service Plan where an insurance company pays a set amount or a percentage for the services offered to the insured person, which is agreed at the outset. One drawback to this type of plan is the insured must pay a deductible fee in advance in addition to the monthly premium but most insurance companies are gradually phasing this type of plan out.
Another type of plan is that run by health maintenance organizations where the insured chooses a doctor but must use that doctor each time he has a health problem before he can be referred elsewhere; often know as gatekeepers. This type of plans sees a relationship build between the insured and his or her doctor so over time a trust will form and the doctor can help recommend ways to stay healthy and not use medical services so frequently.
Preferred Provider Organization- is basically a combination of fee-for-service and Health Maintenance Organizations where you designate a network of hospitals and doctors by whichever insurance you buy the options are confined to that set of doctors and hospitals. Using this type of system, if the insured uses the medical services of a medical facility or doctor outside of this group then there is a good chance that any expenses will not be paid.
An Exclusive Provider Organization or EPO is a network of individual medical care providers, or groups of medical care providers, who have entered into written agreements with an insurer to provide health insurance to subscribers and with EPO, medical care providers enter a mutually beneficial relationship with an insurer. All medical costs are met by the Exclusive Medical Organization providing it is with one of those in the network and any medical attention supplied outside of this will not be paid, but some exceptions do exist.
Prior to opting for a plan it is better to ponder over your needs and family requirements and you may even want to use the checklist of the agency through which you are purchasing the policy and ask for more information from the health benefits manager at your workplace or a health plan representative. If you prefer, you can always pay a visit to your personal physician who will be comfortable discussing all the types of plan that can be arranged.
A health insurance policy can be taken out buy an individual for himself or his family and while he continues to pay his regular premium, the insurance company will pay for medical treatment for sickness or injury. The area of cover is wide and it is rare to find a health policy that gives blanket cover for disability income, medical expenses, accidental death, loss of a limb (or limbs) or an accident for example. This allows for a great deal of flexibility when a person decides to arrange health protection as he or she can tailor make to suit their own situation.
The most basic of health insurance is known as a Fee-for-Service Plan where an insurance company pays a set amount or a percentage for the services offered to the insured person, which is agreed at the outset. One drawback to this type of plan is the insured must pay a deductible fee in advance in addition to the monthly premium but most insurance companies are gradually phasing this type of plan out.
Another type of plan is that run by health maintenance organizations where the insured chooses a doctor but must use that doctor each time he has a health problem before he can be referred elsewhere; often know as gatekeepers. This type of plans sees a relationship build between the insured and his or her doctor so over time a trust will form and the doctor can help recommend ways to stay healthy and not use medical services so frequently.
Preferred Provider Organization- is basically a combination of fee-for-service and Health Maintenance Organizations where you designate a network of hospitals and doctors by whichever insurance you buy the options are confined to that set of doctors and hospitals. Using this type of system, if the insured uses the medical services of a medical facility or doctor outside of this group then there is a good chance that any expenses will not be paid.
An Exclusive Provider Organization or EPO is a network of individual medical care providers, or groups of medical care providers, who have entered into written agreements with an insurer to provide health insurance to subscribers and with EPO, medical care providers enter a mutually beneficial relationship with an insurer. All medical costs are met by the Exclusive Medical Organization providing it is with one of those in the network and any medical attention supplied outside of this will not be paid, but some exceptions do exist.
Prior to opting for a plan it is better to ponder over your needs and family requirements and you may even want to use the checklist of the agency through which you are purchasing the policy and ask for more information from the health benefits manager at your workplace or a health plan representative. If you prefer, you can always pay a visit to your personal physician who will be comfortable discussing all the types of plan that can be arranged.
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