People who have insurance tend to take it for granted until they need it. If you have insurance premiums withdrawn from your paycheck, you may not focus on this pretax premium payment. Then the cost of deductibles and premiums can be staggering when having to pay these obligations upfront or straight out of your parents Chet. Some people cannot afford to do this. Then may simply chose to go without health care coverage. People who cannot afford insurance or have incomplete insurance live on a precipice that does not seem necessary or moral in these modern times. This is was the Obama Health Care plan was developed and was passed. There are many types of insurance to select from when deciding on coverage. The site can give you a detailed summary of insurance plans. Some are:
- HMO– Health Maintenance Organizations-May limit coverage to providers inside their own networks. A network is defined as a health care provider, a hospital or health facility, or a list of doctors in the plan. With the HMO plan if you go outside the list of providers, you may be forced to pay full cost of the service rendered. HMO participants have a primary care doctor and need a referral from him or her for a visit to a specialist.
- EPO-Exclusive Provider Organization-The same plan as the HMO plan, but no specialist referral is needed.
- PPO-Preferred Provider Organization-The plan gives you a choice of selecting care within or outside of the provider network. You will have to pay more for out-of-network health providers. You can visit any doctor without need for a referral.
- POS-Point-of-Service Plan-Like a PPO plan, but if you plan to visit a provider out of the provider network, you will need a referral first.
- HDHP-High Deductible Health Plan-A plans with lower premiums and much higher deductibles that your average insurance plans. As of 2013, the plans have a minimum deductible of $ 1250.00 annually and for an individual. The family coverage minimum is $ 2500.00 annually. You can use a health savings account, or a health reimbursement plan to pay for out-of-pocket health expenses. This consequently, may lower your taxes owed.
- Catastrophic Health Insurance Plan-This plan covers essential health benefits, but has an extremely high deductible rate. The plan will not provide coverage for shots or prescription drugs. In the marketplace, this plan is only available for people under the age of 30 and offered to some low-income people who qualify. Those who have the catastrophic plan are not eligible for a lower price on monthly insurance premiums or out-of-pocket expenses.