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Understanding Your Health Insurance Options
Author David Schneider | Nov 19,2007
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Health insurance comes in several varieties and flavors. When shopping for health insurance, it is important to learn about all of your options before making any decisions. Two of the options that you need to learn about include deductible amounts and insurance formats.
High Deductible or Low Deductible
One of the first decisions that you need to make when comparing health insurance policies is whether you are interested in a low premium and a high deductible or a high premium and a low deductible. When choosing between these two options, you will want to take into consideration your insurance budget and your medical care needs. For example, if you are relatively healthy and seldom go to the doctor, then you will want to select a high deductible and a low monthly premium. This will save you money upfront while still protecting you in the event of a serious accident or if you develop a serious illness down the road.
Managed Care or Pay-Per-Service
The second decision that you will need to make when shopping for health insurance is whether you are interested in managed care health insurance programs or pay-per-service programs. Managed care programs like HMOs and PPOs are more affordable than pay-per-service. However, they restrict what medical professionals you can use. Pay-per-service programs, like Blue Cross Blue Shield, are more expensive, but they allow you to choose who you want to use for your medical services. When deciding between these two options, you will want to look at your budget and at the doctors that belong to the HMOs or PPOs that you are interested in getting.
Health insurance comes in several varieties and flavors. When shopping for health insurance, it is important to learn about all of your options before making any decisions. Two of the options that you need to learn about include deductible amounts and insurance formats.
High Deductible or Low Deductible
One of the first decisions that you need to make when comparing health insurance policies is whether you are interested in a low premium and a high deductible or a high premium and a low deductible. When choosing between these two options, you will want to take into consideration your insurance budget and your medical care needs. For example, if you are relatively healthy and seldom go to the doctor, then you will want to select a high deductible and a low monthly premium. This will save you money upfront while still protecting you in the event of a serious accident or if you develop a serious illness down the road.
Managed Care or Pay-Per-Service
The second decision that you will need to make when shopping for health insurance is whether you are interested in managed care health insurance programs or pay-per-service programs. Managed care programs like HMOs and PPOs are more affordable than pay-per-service. However, they restrict what medical professionals you can use. Pay-per-service programs, like Blue Cross Blue Shield, are more expensive, but they allow you to choose who you want to use for your medical services. When deciding between these two options, you will want to look at your budget and at the doctors that belong to the HMOs or PPOs that you are interested in getting. |
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