Good and Cheap Health Insurance

Is Good and Cheap Health Insurance Out There?

If you have been watching any news lately, you must know that US health insurance is a hot topic. Meanwhile, a lot of us still need to find good quality family health insurance that we can afford! It is still possible for most families to get the best value for your dollar. And other families, who may need to cover a person with a pre-existing condition or have a very low income, still do have options.

Individual Plan Options – PPO vs HSA

There other types of insurance plans, but these two are very common and popular  types of individual major medical policies.  Which type of health insurance is best? It really depends upon your needs, budget, and what you want out of your policy. 

PPO (Preferred Provider Organization): This is a medical major plan that contains a network of medical service providers like doctors and hospitals. If you use this network, you pay less. You may have a fairly low copay for doctor’s office visits, for example. However, you are still allowed to seek services outside the network, but will probably have to accept lower insurance company coverage. This makes the plan simple, but still flexible.

In some cases, the insurance company may grant exceptions to the network coverage rules. They will usually cover emergency services at the higher in-network rate. If you need some medical care that is not provided by the plan network  providers, they may also agree to cover it at the in-network rate. In this case, if it is not an emergency, you should make sure to get this agreement in writing before you get the service.

HSA (Health Savings Account): This type of major medical insurance consists of two parts. You will have a savings account, and you will have a major medical policy. The savings account is tax deductible, up to IRS limits. It may also earn interest, and any savings roll over to the next year if you do not use them. The major medical insurance has a higher deductible.

What is Good About HSA Plans?

The idea behind HSAs is that you can use the savings to help cover the higher deductible, and even for some medical services that major medical does not cover, like a new pair of glasses or dental care.  You will get to deduct your contributions to the account, it may earn interest, and it rolls over to the next year if you do not use it. In addition, at retirement age, you can take out any remaining money without a penalty. In addition, the higher deductible health insurance should cost less than a pla with a lower deductible.

What is not so great about HSA plans? These only work for disciplined savers who want to control their health care costs. Many people purchased these policies, and then decided they did not work out that well because they had never made regular deposits into the savings account. When these people had to pay their out of pocket costs, like deductibles or copays, they had no money in their fund.

What if You Cannot Get or Afford Health Insurance?

Lots of people really want health coverage, but they have problems obtaining it Do not just assume you cannot afford or qualify for a policy, because many people can. 

Go here : Free Health Insurance Quotes. You can get competitive quotes and find licensed professionals in your local area. Reasonably healthy people can find affordable rates.

If you have been decllined for private health insurance, find out what your state high risk plan is. Every US state has some sort of program for people with pre-existing conditions. Some of them charge fairly high rates.

If you already know you  cannot afford any private policy, you may want to check out PPARX.org – the Partnership For Prescription Assistance. Besides help with drugs, it also has resources to find health related financial aid, local sliding scale medical clinics, etc.

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