Healthcare options encompass a wide range of topics, but usually, healthcare options reference different forms of health insurance and how they apply to those insured. The complexity of the healthcare services and plans that are offered is both a blessing and a curse, so to speak. The wide-spread variety allows policy holders to select and sometimes custom design plans to meet their needs. However, without guidance, policy holders may choose a plan that doesn’t fit their needs, and wind up feeling as though they’re wasting their money.
Some different types of plans include family plans, usually featuring high deductibles with HSAs (health savings accounts), individual and corporate plans. Family plans are designed to cover up to two adults and any dependents, or children, in their custody. Individual plans are designed to cover an individual, though some offer extended coverage to a spouse or a child. Corporate plans are owned by businesses, and employees can buy into these plans, usually for reduced rates.
Most plans fall into any of the following categories
HMOs, PPOs or traditional plans. The distinction between these types of plans goes beyond premiums. HMOs are networks that manage both an insured’s health insurance and health care. HMOs emphasize the importance of preventative care, so that is where most of the benefits lie. PPOs are networks that manage health care and work with a number of health insurance plans to give reduced rates to those insured under those plans. PPOs also emphasize the importance of preventative care. A traditional health care plan allows the insured to choose any doctor and is not hemmed in by a network. However, these plans tend to be a bit pricier.
Additional types of insurance or elements that can be endorsed onto a health insurance policy include Medicare and Accident Insurance, which is also referred to in some cases as Hospital Indemnity insurance. Medicare, like Social Security, imposes strict limitations on its use. For example, Medicare can only be used by those age sixty-five and over, but the plans and options involved therein are designed for those approaching their senior stage of life. Accident or Indemnity insurance pays specific rates to the insured in the event that they require a trip to the emergency room.
Dental and vision plans and discount cards are frequently offered as options on health insurance as well, and can provide a more multi-faceted protection. These discount programs often favor preventative care such as regular dental and vision exams.