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Sunday, February 20, 2011

The Right Health Insurance Provider for You: Some Options

Health insurance plans fall into several different categories. Each one has advantages and disadvantages.

Catastrophic health insurance plans are designed to help you confront costs should you face a true medical emergency. A medical emergency is defined as a chronic illness such as diabetes or sudden condition such as cancer. This form of insurance will provide you with coverage once you have met a specific deductible. After that point most if not all of your medical costs should be coved. This can be a good option if you are presently young and healthy and you have at least some savings to meet your basic deductible.

Another form of insurance is a minimed plan. Minimed plans are offered by some employers. You might pay as little as fifteen or twenty dollars in month. In turn you get a few limited services including access to a certain number of doctor's visits each year. Some plans also offer health care for more serious illnesses such as asthma or heart disease. Unfortunately mimimed plans are expensive in the short term and do not offer much coverage if you really need it. Many such plans are not really right for most people even the very healthy.

Comprehensive insurance is designed to meet all your medical needs. Many people have comprehensive plans through an employer or spouse. This is probably the best form of insurance if you can get access to it. For as little as $100 a month, you should have most of your medical expenses covered under this form of plan. Unfortunately many people are denied access to this kind of medical insurance if they have a preexisting condition or lose their jobs. Some states let many people gain access to this form of health care even if they have such conditions. Find out more from your state representative.

Medicare and medicaid are state and federally run forms of health insurance. The first is used by the elderly and disabled. The second is for low income earners. If you can qualify for this kind of medical plan, you will most likely have most of your medical needs met. Eligibility depends on your income, citizenship status and annual income. Many states also offer insurance designed for the needs of children. Even if the adult in the family does not have insurance, a child can still qualify. Having a child covered is an excellent way to allow you to meet other medical needs. You might be able to then afford individual health insurance thus saving money. Eligibility is dependent on your family's income and immigration status.

The right plan for you depends on many factors. Look carefully before you make any choices. A plan should cover as many of your medical issues as possible without huge financial risk.

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