subject: Choosing the best insurance policy [print this page] Choosing the best insurance policy
The healthcare industry is now facing great changes through the current US administration's schemes, in the hopes of providing better healthcare benefits to all Americans and their families.
Now, more than ever, it has been most important to get great services and coverage for your money's worth in these hard economic times.
You pretty much know what the concept of health insurance is: pooling your money through a monthly premium to cover any unexpected medical expenses for you and your family through a social structured system. More than a need, great and affordable health insurance is everyone's right, after all.
There are literally hundreds of privatized companies offering great insurance deals and coverage for different types of people. You can easily go online and search for a great health insurance company in your local area and immediately get online quotes through a lot of different websites, so you know more or less how much a certain coverage costs.
Factors that you need to look for in a great health insurance coverage are the premium cost, the deductibles or the out-of-pocket expenditures you must shoulder prior to the insurer refunding your money back; the co-payment, which is also an out-of-pocket expense for you; co-insurance scheme; coverage exclusions; out-of-pocket maximums; capitations; the company's in-network providers; prior authorizations; and all the other benefits.
Then, there is the matter of choosing whether it is best for you to get a comprehensive or a scheduled health insurance plan. Comprehensive health insurance is where the insurance company only pays a certain percentage of your hospitalization costs after the deductible; while a scheduled health insurance plan covers you more on basic day-to-day health care on doctor visits and prescription drugs.
While the former is more expensive than the latter, it is important to note that the former tends to give you more coverage and benefits.
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