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Health Insurance

Explained

Explanation of Health Insurance Having suitable health insurance is entirely dependent on your ability to know the available health insurance plans. Some of the common health insurance plans available today are discussed below. Irrespective of who you choose as your coverage provider, you are better off knowing the available health insurance plans. Click this link to compare health insurance. HMO Plans Explained Health maintenance organization better known as HMO is a network or group of hospitals, doctors, and any other health care givers you make your choice from in order to be get insured. You basically select a caregiver or physician and they will give you a referral if for any reason you need to see a specialist POS or PPO Plans Explained Point of service (POS) and preferred Provider Organization (PPO) are nearly the same as HMO plans because they both provide a network of highly recommended health caregivers. But the difference between them is that both POS and PPO give you the opportunity to get coverage apart from your chosen network. Though the coverage may not be so comprehensive and it may be at a more expensive cost. PPO-only coverage plans afford you the freedom to see a doctor of your choice without needing a referra,l and in addition, there is no need for you to have a primary care doctor. High Deductible Health Plan (HDHP) Plans Explained HDHP is the most pocket friendly health plan, but just as the name infers, it is associated with payment of more money. Though your initial payment may be low, if you happen to sustain a serious injury or diagnosed with serious illness, you might end up paying more out of  pocket to obtain treatments, much higher than what you will pay using other coverage. On the other hand, if you are under HDHP coverage, you will be eligible to have a health savings account (HSA). And any money deposited in the account is exempted from federal income taxes, consequently, you can use such funds for your personal medical expenses. Fee-for-service plan This is possibly the most flexible health insurance plan available. W this plan, you have unrestricted access to anyone you wish to see including even specialists. The disadvantages associated with this include paying of expensive monthly premiums, paying higher cost to set up appointments as well as little troubles you might have keeping all your receipts intact. In addition, there is the possibility that you may get only little compensation for your preventive care and usual check-ups. Consumer-driven Health Plan (CDHP) Explained This type of coverage make use of what is k own s health reimbursement account, don’t mix it up for health savings account, this is an account wherein your employer is expected to deposit certain amount of money annually. You can make use of this account to settle your medical expenses and if you preferred, you can use it for another health plan of your choosing. Immediately you have exhausted all the available cash in the account, it is required that you qualify for certain deductibles prior to the commencement of the full coverage. Any unspent money is usually rolled over to the following year. Catastrophic Health Plan Explained This plan is basically a last choice coverage especially if you are seeking to pay the lowest possible premium. Those under this plan pays huge amount of premiums yearly before their coverage becomes effective. It is just used in case you need to have emergency surgery performed. Catastrophic plans are available to only those under 30 and it is not inclusive of prescriptions.

FOR ALL YOUR INSURANCE

NEEDS CLICK THIS LINK

WARNING: TRYING TO DISRUPT

HEALTH INSURANCE MAY CAUSE

HEADACHES

Here’s a buyer-beware insurance lesson: Check an insurance provider carefully before you sign up Like most of us, Sarah Doody dreaded interacting with her health insurance provider. So the New York-based product designer decided to take a chance in 2014 on a startup called Oscar Health, which bills itself as "revolutionizing health insurance." That messaging appealed to Doody, who works in the tech industry, as she could easily peruse information on Oscar's mobile app and website, and call anytime to speak to the customer experience team. Her monthly premiums for a bronze plan set her back a modest $350 per month, which is only slightly above average in New York. But about a year after Doody joined, Oscar dropped her primary provider, New York-Presbyterian Hospital, from its network, prompting her to switch her insurance yet again. She says she would still recommend Oscar to a friend, but with a caveat: "At a fundamental level of providing insurance and being able to get medical care, there's nothing super different about them yet." Oscar Health, which was founded by venture capitalist Josh Kushner, serial entrepreneur Mario Schlosser, and former Microsoft employee Kevin Nazemi, is a rare example of a health insurance company with the valuation of a hot Internet startup. It has 125,000 members in four states, and is valued at a massive $1.75 billion (a report from Fortune last week speculates that the valuation is closer to $3 billion). By contrast, much larger rival insurer Health Net, with 6 million members, was valued at its sale at $6.8 billion. For more information on this article click on the link below. Read more:  http://www.fastcompany.com/3055700/warning-trying-to- disrupt-health-insurance-may-cause-headaches
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Health

Insurance

Explained

Explanation of Health Insurance Having suitable health insurance is entirely dependent on your ability to know the available health insurance plans. Some of the common health insurance plans available today are discussed below. Irrespective of who you choose as your coverage provider, you are better off knowing the available health insurance plans. Click this link to compare health insurance. HMO Plans Explained Health maintenance organization better known as HMO is a network or group of hospitals, doctors, and any other health care givers you make your choice from in order to be get insured. You basically select a caregiver or physician and they will give you a referral if for any reason you need to see a specialist POS or PPO Plans Explained Point of service (POS) and preferred Provider Organization (PPO) are nearly the same as HMO plans because they both provide a network of highly recommended health caregivers. But the difference between them is that both POS and PPO give you the opportunity to get coverage apart from your chosen network. Though the coverage may not be so comprehensive and it may be at a more expensive cost. PPO-only coverage plans afford you the freedom to see a doctor of your choice without needing a referra,l and in addition, there is no need for you to have a primary care doctor. High Deductible Health Plan (HDHP) Plans Explained HDHP is the most pocket friendly health plan, but just as the name infers, it is associated with payment of more money. Though your initial payment may be low, if you happen to sustain a serious injury or diagnosed with serious illness, you might end up paying more out of  pocket to obtain treatments, much higher than what you will pay using other coverage. On the other hand, if you are under HDHP coverage, you will be eligible to have a health savings account (HSA). And any money deposited in the account is exempted from federal income taxes, consequently, you can use such funds for your personal medical expenses. Fee-for-service plan This is possibly the most flexible health insurance plan available. W this plan, you have unrestricted access to anyone you wish to see including even specialists. The disadvantages associated with this include paying of expensive monthly premiums, paying higher cost to set up appointments as well as little troubles you might have keeping all your receipts intact. In addition, there is the possibility that you may get only little compensation for your preventive care and usual check-ups. Consumer-driven Health Plan (CDHP) Explained This type of coverage make use of what is k own s health reimbursement account, don’t mix it up for health savings account, this is an account wherein your employer is expected to deposit certain amount of money annually. You can make use of this account to settle your medical expenses and if you preferred, you can use it for another health plan of your choosing. Immediately you have exhausted all the available cash in the account, it is required that you qualify for certain deductibles prior to the commencement of the full coverage. Any unspent money is usually rolled over to the following year. Catastrophic Health Plan Explained This plan is basically a last choice coverage especially if you are seeking to pay the lowest possible premium. Those under this plan pays huge amount of premiums yearly before their coverage becomes effective. It is just used in case you need to have emergency surgery performed. Catastrophic plans are available to only those under 30 and it is not inclusive of prescriptions.

FOR ALL YOUR INSURANCE

NEEDS CLICK THIS LINK

WARNING: TRYING TO DISRUPT

HEALTH INSURANCE MAY CAUSE

HEADACHES

Here’s a buyer-beware insurance lesson: Check an insurance provider carefully before you sign up Like most of us, Sarah Doody dreaded interacting with her health insurance provider. So the New York-based product designer decided to take a chance in 2014 on a startup called Oscar Health, which bills itself as "revolutionizing health insurance." That messaging appealed to Doody, who works in the tech industry, as she could easily peruse information on Oscar's mobile app and website, and call anytime to speak to the customer experience team. Her monthly premiums for a bronze plan set her back a modest $350 per month, which is only slightly above average in New York. But about a year after Doody joined, Oscar dropped her primary provider, New York- Presbyterian Hospital, from its network, prompting her to switch her insurance yet again. She says she would still recommend Oscar to a friend, but with a caveat: "At a fundamental level of providing insurance and being able to get medical care, there's nothing super different about them yet." Oscar Health, which was founded by venture capitalist Josh Kushner, serial entrepreneur Mario Schlosser, and former Microsoft employee Kevin Nazemi, is a rare example of a health insurance company with the valuation of a hot Internet startup. It has 125,000 members in four states, and is valued at a massive $1.75 billion (a report from Fortune last week speculates that the valuation is closer to $3 billion). By contrast, much larger rival insurer Health Net, with 6 million members, was valued at its sale at $6.8 billion. For more information on this article click on the link below. Read more:  http://www.fastcompany.com/3055700/warning- trying-to-disrupt-health-insurance-may-cause- headaches