subject: Health Insurance Options For Individuals - Finding Good Coverage at an Affordable Price [print this page] Health Insurance Options For Individuals - Finding Good Coverage at an Affordable Price
If you work for an employer that offers a good medical benefits package then you probably have excellent coverage but for millions of people, finding the right coverage is a little more challenging. If you are a business owner, self-employed, or work at a job that does not offer benefits you will need to find your own coverage at a price you can afford. So what are some health insurance options for individuals? We are going to briefly go over some of the most common options available and give you some tips for finding the most affordable rates.
One of the most common health insurance options for individuals is an HMO. An HMO is a Health Maintenance Organization. It is basically a network of healthcare providers assembled to treat patients in accordance with the organization's guidelines and restrictions in exchange for the organization bringing patients to these healthcare professionals. HMOs allow people to get medical care at affordable prices because the prices are set and agreed upon by the healthcare providers in the organization. The downside of an HMO is that care outside of your network is not covered and there are restrictions regarding which healthcare providers you can see and what types of treatment options are made available.
One of the other main health insurance options for individuals is known as a PPO or Preferred Provider Organization. A PPO consists of doctors, hospitals, and other healthcare professionals that have agreed to provide services at reduced rates for clients of a particular insurance company. A PPO can offer you reduced rates but will still be more expensive than an HMO. However, with a PPO you have a lot more flexibility with the treatment options available and in your choice of healthcare professionals.
Another option that is becoming more popular for people that are looking for an affordable healthcare plan is an HSA or health savings account. An HSA is a good option for people that are generally healthy and don't need to visit the doctor on a regular basis and who are also looking for a plan with very affordable rates. A health savings account allows you to deposit money from your paycheck into the account without paying taxes on the money. As long as the money is used to pay for medical services no taxes will be applied when the money is withdrawn from the account. A health savings account is used with a high deductible health plan which has very low monthly rates but much more expensive copayments and deductibles than other popular health plans. That is why it's a good option for people that don't visit the doctor on a regular basis but need coverage in case of a serious illness or injury.
No matter which type of health plan you decide to go with you will certainly want to get the best deal available. The way to make sure you're getting the best rates regardless of the type of plan you choose is to compare the prices of a number of different insurance providers to see which one is offering the coverage options you need at the best rates. Comparing prices is fast and easy and can save you quite a bit of money. Click here if you want to get affordable health insurance.
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