 |
 |
 |
 |
Commercial Health Insurance Plans
You’re a happy, healthy person so commercial health insurance plans are the furthest things from your mind. You’re going to live for quite a while longer. You don’t engage in any overtly risky behaviors such as sky diving, jumping off cliffs, or playing chicken with trains.
Health care coverage just isn’t an issue for you, right? Wrong! Medicare, Medicaid, and plans like Veterans Benefits are government programs, but they don’t provide nearly enough coverage for the average family. Plus, most people don’t even qualify for those medical plans.
But just about everyone can purchase their own commercial health plan from a huge range of providers. And, absolutely everyone needs a plan. No one plans on getting sick or having an accident however… when it happens, health insurance guarantess that we’re able to receive whatever care we may need.
Click on a couple of the blue links above & put these guys to the test!
There are a lot of health insurance plans available though so it can be a little tricky figuring out exactly what you need for yourself. One of the basics for determining your health insurance plan is determining if you need an individual plan or a group plan.
Essentially, the individual plan covers yourself and any family members. It’s “owned” by whoever is named in the plan. Group plans are generally “owned” by a large company and are intended to be used by company employees who pay for the privilege of using the company’s plan.
Most people will often buy into their company’s group health insurance plan and will also have an individual health plan to cover areas not covered by the first policy.
The next step is figuring out what kind of coverage you need. Again, there are two basic forms: complete coverage and limited purpose coverage. Now, complete coverage does not mean that it covers, literally, every single possible health issue.
It simply means you can purchase coverage for most health issues which will arise. Limited purpose coverage means exactly what the name implies. It covers a very limited number of health issues and is often intended for a limited time period.
Complete coverage commercial health insurance plans are generally for major medical costs and preventive care costs. This is the plan most frequently used for routine checkups, exams, and physicals. There is usually some sort of co-pay involved where you have to pay a deductible.
After the deductible, the health insurance company pays the rest of the bill. There are often specific networks of doctors and hospitals which you must use in order for the health insurance plan to pay their portion of the total bill.
Limited purpose health insurance plans are sometimes purchased to cover the time between jobs so that an individual and the other family members don’t have a lag in their health coverage.
These health insurance plans may also cover only accidents, provide disability income in case you’re unable to work, pay a flat fee for hospital stays, or provide medical care for specific diseases such as cancer and liver.
These limited purpose health insurance plans may also be used to supplement any Medicare coverage provided by a different policy. They can provide coverage for in-home care should you need someone to come in and assist you in your own home.
You don’t plan to get sick or be involved in an accident and that’s exactly why you need to have a commercial health insurance plan.