Health insurance is essential for getting timely medical care and greater quality of life. Studies have repeatedly shown how uninsured victims of accidents often get less quality, and less timely medical treatment. Because the injured parties receive no aid in the payment for this medical treatment, it puts them and their immediate families at potentially substantial financial risk. In addition, not getting the proper amount of treatment puts people at risk of not fully recovering from injuries or being more susceptible to re-injury. Should a re-injury occur, or turn into a chronic condition, the medical bills could eventually become insurmountable. This is the main reason why individual and family health insurance is essential – to ensure proper medical treatment and prevent financial ruin. The two main options exist for people that want to provide themselves and their families with quality medical care.
Individual Health Insurance
As the name implies, individual health insurance is purchased to cover medical expenses incurred by an individual. One of the available plan options is the indemnity plan which is the most traditional coverage option. The indemnity plan provides coverage regardless of the doctor used or the procedure needed. A more cost effective coverage option would be the managed plan, but it has less flexibility than the indemnity plan. The individual would need to choose a doctor from an approved list in the plan’s network. This plan would make sense for people who are in good health and don’t foresee going to the doctor multiple times a year. Should any health emergencies occur, the individual would still be covered.
Because the details regarding health coverage and its costs can be quite complex, individual policies are usually purchased with the advice of insurance professional. Health insurance brokers are licensed and experienced professionals that know more in depth details and can provide guidance to the best coverage options according to individual situations.
Family Health Insurance
Under a family health insurance plan, the individual and all members of their family gain the benefit of comprehensive health insurance coverage. As each person is different, their healthcare needs may also differ and can be customized in the family health plans. It is recommended to read and discuss the plans with the family members so as to make informed choices. Although the costs are higher than individual plans, there are significant savings over trying to buy insurance individually for everyone. In addition, once the family is covered, the policy holder only pays a single premium amount instead of paying a bill for each individual. In addition, dental and prescription coverage can also be added to health plans for additional costs. Because children typically need medical care much more often than adults, health insurance is indispensable for families.
Raising a family involves a lot of planning and discussion. Unfortunately, health issues and injuries can’t be planned for. For those scenarios, protection and assurance can be provided by enrolling in health insurance coverage to ensure proper medical attention and mitigate the financial consequences of not being insured.