A Brief Guide to Health Insurance

As they say, life is a mystery, and with those words comes the realization that as a human being, you are not invincible to sickness, or even death. Seeing that you never know where life will take you, it is important to be prepared in every scenario that you may encounter. Instead of investing your money on gadgets and luxury cars, it is wiser to have family insurance plans or an individual one that will guarantee your future. Knowing that you have many questions regarding this topic, here are the explanations that you want to hear.

Family vs. Individual Insurance

If you are new to the concept of insurance, then you most definitely do not know the difference between a family and individual health insurance. While both are geared towards your health and well-being, they are different in cost, meaning, and concept. To put it simply, individual insurance is for you alone, while the other consist of an adult and immediate family members. The family insurance is more practical because getting a separate insurance for each member of the family is pricier than getting it on a single coverage.

Benefits of Insurance

As stated earlier, you do not know what will happen to you and your family in the days to come. Having a health insurance will cover all the necessary expenses without getting you bankrupt. Aside from that, you are assured that no matter what happens your family is taken care of properly because you decided to do the right thing as early as now.

Health Coverage Plans and Its Affordability

  • Health Maintenance Organization- Among the health insurance plans available today, HMO is the most cost-effective. In this coverage, a network of providers is available to help you. This involves different hospital and doctors, though they do not offer much flexibility.
  • Preferred Provider Organization- Compared to the HMO, this plan provides you more flexibility in the sense that you can seek help from a specialist, without consulting your primary physician first.
  • Life Insurance- This will benefit your family upon your death because you will still get to provide for them through the insurance.
  • Guaranteed Issue- People who have preexisting medical condition can take advantage of this insurance since it will cover them no matter what their health condition is at the moment.

There are a lot more coverage plans that you and your family can avail of, but the ones stated are the most popular choice. If your employer has not given you any insurance yet, do not worry because the newly passed health reform will definitely help you get an insurance no matter what your status in life is.

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