Health Insurance policies are made to protect a person or a group of persons from the expenses of multiple health problems. These policies come very handy when someone falls ill or meets an accident unexpectedly. In such an insurance provider takes care of the treatment surgical expenses of the insured person. There are two types of payments in these insurance policies. Sometimes the insurance companies directly pay to the concerned doctor, clinic or hospital and sometimes the patient pays first and the expenses are reimbursed later. Generally, people don’t realize the necessity of such a plan but, one must have a suitable insurance plan to take care of himself and his loved ones. The bigger misery is that most of the people still don’t know the different benefits of such an insurance and how it works. Here, we are helping our visitors with the required information as well as guidance to get cheap health insurance quotes easily and choose their suitable insurance plan as per their requirements.
Group Health Insurance
Group Health Insurance policies are the insurance policies offered to a group of people by an employer or a Health Maintenance Provider (HMO) or Preferred Provider Organization. They have a merger or contract with a large network of doctors as well as hospitals. These types of plans provide health protection to the insured person and as well as his dependents. This means if a person enrolls in a group insurance plan, his wife, parent (if dependent) and children will also be eligible to receive the health benefits under the same plan. Such plans are a great option if someone is looking for a cheap health insurance plan.
In a group insurance plan, same coverage is provided to each individual or employee and the terms and conditions are equally applicable to everyone. It has got some unique advantages such as lower premium, maternity cover, no waiting period and no medical check-up required. The premiums offered in a group insurance plan are cheaper than an individual insurance plan and recommendable for people earning not so high wages. It also provides coverage for maternity and the insured person or his spouse can get a reimbursement for the maternity expenses. It’s another advantage is that it doesn’t require any medical check of the insured person his dependents. Moreover, it doesn’t have a waiting period and the benefits start as soon as an insured person is enrolled. Through our website, one can easily get health insurance quotes online and choose a plan for the best price with maximum benefits.
It also has some disadvantages such as when an employee leaves his job, his insurance policy becomes invalid at the same moment. Such an employee will not have an insurance policy until his new employer provides him a new policy or he buys one on his own. Like other insurance plans, it has some disadvantages as well. When an employee leaves or changes his job, the chosen insurance plan becomes invalid for him and he won’t have an insurance plan until he gets from another employer or buys one on his own. Also, the policies are discontinued as soon as an employee switches his job and he is no longer eligible to receive the benefits even after paying the earlier premiums. However, there are some insurance companies providing an option to retain a group insurance policy with exactly same benefits. If there is such an option available, one must utilize the opportunity.
Individual Health Insurance
Individual Health Insurance policies are a good option for those who are self-employed or whose employer isn’t providing an insurance for him. Any person can buy an immediate insurance from any insurance provider on his own. One can buy an individual insurance for himself, his family or both. These insurance policies cost a bit more than the group insurance but provide a good option if he doesn’t have a group insurance policy. Also, these policies provide less health insurance coverage than group insurance policies and some services such as substance abuse treatment may be missing in an individual insurance policy.
Under the individual insurance, there is a free-for-service insurance plan that is also known as an indemnity insurance plan. It makes a partial reimbursement for every medical treatment or service an insured person accesses. In this plan, one can to any doctor, clinic or hospital but he will have to pay for rest of his medical expenses. At OptInsure
, we are providing cheap medical insurance quotes to our customers and helping them with low cost health insurance for children as well as the adults.