Myth or Reality – Good Medical Insurance Deals?

Posted on May 28, 2011 @ 3:03 am

If you have a child linked to your health cover and the child is in the custody of your divorced partner, you will want to know how your cover can protect her. First you should know that the policy of the parent that the child is in custody of will be the primary policy. If such parent that has custody is married to someone else, that spouse will provide the secondary policy. After these will your policy be considered.

Shopping is a key step in securing of a good and affordable health insurance quote for you and your family. Don’t just commit to a policy based on media hype. Going through what is involved and the cost implications properly before you commit to advertised policies is the right approach to take, regardless of what anyone tells you. 

As a former employee that is insured under your former company’s group health coverage plan, you can still enjoy the group plan months after you have resigned and have ventured into your own business. Although you will not enjoy the subsidy provided by your former boss, but it is still going to be cheaper than getting health insurance for individuals private policy sorted out. You have to make other plans as regarding your health coverage as you cannot enjoy this benefit for over 18 months. 

Health insurance is a form of cover that guards against health hazards. The insurer pays for some or all of the cost of receiving treatment for the policy holder. Health insurance is of various types; the group health insurance, individual, fee for service, etc. You can receive any health cover service for as long as you meet with the requirements of the insurer. 

The health cover you get varies in three different ways– the service provided, which is the exact plan you settle for; the payment mode, which is the way you receive claims if they are made directly or you receive reimbursement after paying yourself; and the exact out-of-pocket cost, this is the financial implication of running on the plan you are. The same is also true with other types of treatment such as affordable dental insurance, so know what you are letting yourself in for.

Most hospitals allow flexible payment for individuals with hospitalized conditions. If you have a good payment plan from your hospital, it is suggested that you raise the deductibles on your hospital plans and reduce the ones on prescriptions, drugs, doctor visits, etc.

Signing up a co-pay health insurance requires care. Don’t just sign up blindly. Instead, you should carefully calculate the value that you are expected to pay and determine if it’s okay for you or not. If you do this well you won’t be paying much on premium and yet you will have a good health coverage plan you can lean on.

Leave a Reply