When we settle down and start a family of our own there are a few aspects that we need to give us peace of mind. Good health, stability and financial security are high on our list, so with this in mind there has never been more of an important time than now to take out a family medical insurance plan but with so much choice on the market how can you be sure that the plan you are taking out is the right one for you and for your family? To help you decide take a look at some of the most popular medical insurance plans designed for you and your family;
Fee-for-Service Plans Family Medical Insurance
This is not only one of the most traditional types of medical insurance plan but also one of the most popular among families. With this policy the way it works is your insurer only pays part of your doctor and hospital bills and you pay a monthly fee, which acts as your policies premium. With this policy you are basically given the most choice when it comes to which doctor carries out any treatment you need and the hospital in which you have this treatment carried out. You can use any hospital in the country and there is no need to merely stick with the one doctor as you can change if you wish. What this means for your family is that they are given access to the best care possible at no extra cost to you, giving you complete peace of mind if anything were to happen.
With this policy you are offered two forms of cover; basic or major. The cost of your hospital room and the care you receive are covered by the basic form, along with some services including x-rays and medication. You can also use this cover for the cost of surgery but all of these are generally only on a short term basis. For long term, high cost illness or injury it is a major policy that will benefit you the most.
Point-of-Service Plans, known in short as POS
Within this family policy it is possible for primary care doctors in a POS plan to make referrals to other providers in the plan. However it is also possible for you to refer yourself or members of your family outside of the plan as a means of getting coverage. However if you do this you will have to pay extra, known as coinsurance, whereas if your doctor does it then your plan will pay all of your medical bills.
Health Maintenance Organizations, HMO
What this policy represents is a prepaid health plan. It involves you paying a monthly premium, so what do you get for this? Well you and your family are provided with comprehensive care, which includes doctor's visits, hospital stays and any emergency care that is received as well as surgery, various tests and x-rays and therapy.
Although with this policy you may have to pay $5 for a doctor's visit or $25 for hospital emergency room treatment, the overall cost of your medical treatment will be a lot lower than, for example, a fee-to-service plan. However your choice of doctors and hospitals will be a lot more restricted.
The above are just a few examples of the medical insurance plans that are available to you and your family. Just ensure that before you decide on the medical health insurance plan you are going to take out that you weigh up what each of the polices has to offer you in order to get the most from the policy that you do decide to take out. Also visit www.BestHealthcareRates.com for the best group medical insurance plans and rates.
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