Health Insurance FAQ

Reviewing our health insurance FAQ's (frequently asked questions) is an effective way to answer your questions concerning health coverage. Chances are if you have a burning question, then someone else has had it too and it may be addressed in our health insurance FAQ list. It is extremely important to understand the health insurance policy you are investigating before you buy. Research is definitely the key to making good consumer decisions regarding this most important type of financial security. Our health insurance FAQ's will give you a quick and thorough way to get the information you are looking for and even some that you didn’t know you were looking for.

 

Health Insurance FAQ # 1
Why Do I Need Health Insurance?

 

Health insurance in the United States is not provided for through taxes and government subsidization. Therefore, if you want to get good, expedient health care without incurring major bills in the process, you need to carry health insurance.

 

In fact, of all the insurance that exists, health insurance is the most important one to carry. It will be the one that pays claims most often and can make a huge difference to your quality of life. If you happen to take chances on not taking out health insurance and you end up needing medical care, even the simplest of things can easily leave you with a bill of thousands of dollars.

 

The number one cause of personal bankruptcy in the US is due to unpaid medical bills. Be sure to always maintaing comprehensive major medical health insurance to stay financially secure.

 

Health Insurance FAQ # 2
Where Can I Get Health Insurance?

 

There are a variety of ways and places to get health insurance. The most inexpensive way is getting group health insurance through your employer. Usually the company you work for will subsidize part of the costs as a benefit to you. Note that group health insurance is only cheaper if your employer foots the bill if you have to pay the full premium or most of the premium then individual health insurance is a much better deal.

 

If your employer does not offer health insurance, you may be able to get it through another group you belong to, such as a professional or business association or even a church group.

 

You can also get individual health insurance by contacting a health insurance provider. This is often the most inexpensive way to find health benefits.

 

Health Insurance FAQ # 3 What Is The
Difference Between A HMO And A PPO?

 

HMO or Health Maintenance Organizations can be sometime be the least expensive of the two options. However, it is also the most restrictive. With a HMO, you must have a primary care physician (PCP) from amongst the approved member list of the HMO.  If you need to see a specialist, you must get a referral from your PCP. HMOs will not pay out benefits if you choose to use a doctor outside their network.

 

PPO or Preferred Provider Organizations are much more relaxed than HMOs. The premiums they charge are sometimes higher, co-payments and deductibles are often higher too. However, the freedom that comes with the higher charges is often worth it. Referrals are not necessary when seeing specialists.

 

You get the maximum amount of coverage if you use their preferred providers for your health care. However, you will have coverage if you use out-of-network providers, just somewhat reduced.

 

Health Insurance FAQ # 4  I Have A Pre-existing Condition.
Can I Change Companies Or Get New Health Insurance?

 

Once again, your best bet is to go with group health insurance, because there is often no pre-qualifying necessary before you are accepted (although pre-existing conditions can still be excluded for a certain time period [usually 12 months] with a group health insurance policy if you have not maintained continuous coverage).

 

If you try to take out individual health insurance and you have a pre-existing condtion, you may be declined, charged very high rates, or have an exclusion on your policy concerning that condition.

 

If you already have health insurance, be very careful. Do not cancel it until you have secured another type. Being uninsured for a period of time will give health insurance companies reasons to hesitate and dig deeper when reviewing your application.

 

If all else fails then read our article on HIPAA health insurance to see if you qualify for a Federally mandated guaranteed issue individual health insurance plan that by law cannot exclude coverage for pre-existing conditions or decline people who meet the requirements.

 

Health Insurance FAQ # 5
What Is Supplemental Health Insurance?

 

Supplemental health insurance is an additional type of insurance that you can purchase to help cover costs you might incur in case of accident, hospitalization or if you get certain diseases, like cancer.  The benefits are paid directly to you and will help you replace lost income and pay for out-of-pocket expenses that regular health insurance does not cover. If you feel that you or a family member is at-risk for any of the above situations and you can afford it, you may want to look into supplemental health insurance.

Compare Health Insurance
Quotes Now!

 

Now that you have the answers to these health insurance FAQ, you are even better armed to make the best decision for your health insurance. Read some of the additional questions asked below and then use our free tool above and get a quote comparison today on health insurance coverage!

 

 

HEALTH INSURANCE 360

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