Health Insurance Companies – Who Needs Health Insurance?
Health Insurance Companies is getting heat from all over. It's hard to escape hearing the buzz words lately. They're on the cover of every magazine, they're on the front page of every newspaper and every reporter on every television and radio station utters them at least once an hour. But what does that two word phrase "health insurance" really mean to someone who isn't a newscaster or a politician? Better yet, what do they mean to you? Health insurance means never having to say,"I can't afford it," when you accidentally break your arm while snow-boarding or "Oh my God! How am I going to pay for this?"when your appendix ruptures in the middle of the night. In other words, health insurance means that no matter what the medical disaster is - you're covered. The degree to which you are covered depends entirely on the policy you choose, and a wise person chooses a good one - even if it costs a little more.
Deductibles & PremiumsThere are health insurance policies of every variety. High deductible for those who want only catastrophic coverage and low deductible policies for those who might wish to visit a doctor regularly throughout the year. There are HMO's (Health Maintenance Organizations) which limit you to providers in their specific plan and there are PPO's (Preferred Provider Organizations) which give you a wider choice of physicians and/or medical facilities.The concept is basic. You pay an insurance company a set rate (premium) every month, either through your employer or directly to the insurance company. In return for your premium the insurance company covers the majority of your medical expenses. Most plans have a yearly deductible which you have to pay out of pocket before they take over payment. The amount of the deductible can range from $0.00 to $5,000.00 but once your deductible is met the insurance company takes over. Many companies also have a "co-pay" which is a set amount that you pay each time you visit a doctor and they pay the balance. Co-pays can also range from the very low to the very high but generally stay in the $15.00 to $35.00 range. Still others work on a percentage basis - you pay only a pre-set percentage of the bill and the insurance company pays the rest. 
Without health insurance the cost of medical care can quickly bankrupt even the savviest saver. The best way to plan for tomorrow is to insure yourself today. Other Related Articles:Private Health Insurance Companies – Compare and Learn There are a lot of questions about private health insurance companies. There are many options that are available when it comes to health insurance. One of the most popular options…
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