Before insuring yourself for your health, you must know what health insurance is. It is a kind of insurance wherein they pay your medical expenses when you are sick or have some injury.
Working people mostly have their health insurance shouldered by their company where they are working. This is called group health coverage. Some companies also include their workers family for inclusion in these plans.
There is health coverage where in it covers the hospitalization stay, medicines, doctor visits, and inpatient and outpatient procedure. But that depends on what kind of insurance you have. These are some of the benefits you can get from it.
Health insurance falls in 2 categories, namely:
The Major plans: These kinds of plans have broader ranges of services which include both inpatient and outpatient. Mostly in this category, the benefits you can get are cover in hospital stays, emergency treatment, x-rays, medicine, surgeries, laboratory test, and mental health services. This kind of health insurance have higher premium rate.psychiatry medical billing
The Basic plans: In this category plan, usually covers the everyday cost of your medical treatment. Although this also cover the hospital stays, surgeries, emergency treatment, etc but there is a limit, if ever you exceed to the limit then the individual have to pay for the balance.
Most individual look for the best health plan that gives the most benefits with the lowest and flexible cost that fits to their budget and family needs. If possible, all the great or good benefits are in one health insurance plan.
The different kinds of health insurance, namely:
Traditional Health Insurance: This kind of coverage is based on fee for services. This means, pay the itemized medical services that they rendered or you receive. Traditional health insurance has 2 parts which are:
1) Hospitalization: This cover hospitalization with defined expenses incurred while you are confined. The insurance in which will pay for all the covered services rendered by the hospital staff and if the insurance benefit is a fee-for-service then the payment will be fixed sum regardless to the actual expenses incurred.
2) Medical or surgical: This cover the medical care other than the bill from the hospital and the services include treatment charges, doctor visits, lab test, x-rays, etc. Usually the medical surgery requires co-payment by the insured.
Preferred Provider Organization (PPO): This kind of health plan seek to give both benefits of traditional health plans and the money savings of health management organizations.
Point of Service Plans: In this kind of plan, the policy holder or the certified holder are allow to visit out of network or the non participating doctors for a fee.
Health Management Organizations (HMO) This provides coverage of certain health care services required by members of organization which include access to primary care physician, emergency care, and hospitalization if needed.
Health Savings Accounts: This plans provide to a certain kind of arrange coverage of a certain health care services which required by the member of the organization.