Understanding Medical Insurance

Understanding Medical Insurance

Taking into account cost of medical care at present, it is quite important that you have a medical insurance plan in place. To get proper coverage, you need to understand the whole concept of medical insurance. There are two kinds of medical insurance policies, namely, managed care plans and indemnity plan.

In other words, you must know well in advance what is covered and what is not.
First one is managed care plans. This includes plans such as Point of Service Plans (POS's), Preferred Provider Organization's (PPO's) and Health Maintenance organizations (HMO's). They offer a wider array of coverage but they all involve the insurance company and a network of doctors. In managed care plan, it’s the responsibility of primary health care provider to take care of your general medical needs. If the need arises, you can also take the assistance of a specialist. Commonly known as reimbursement plan, indemnity plan is the plan where you get an opportunity to choose your hospital, payment plan and health care provider. The most intriguing thing about this plan is that you can either pay your bills in full or through monthly installments.

A good medical insurance policy would have number of coverages :

Physician's expense insurance: Physician’s expense insurance covers your visit to the health care provider.
Surgical expense insurance: As evident from the name itself, surgical expense insurance covers the fees of surgeon and other kinds of bills that is associated to surgery.
Hospital expense insurance: In case if you are hospitalized, hospital expense insurance covers all your hospital expenses.
Most of the medical insurance covers a wider array of medical needs. It is designed in such a way that it provide you coverage for losses arising from injury and various illnesses.

When shopping for medical insurance, make sure that you are getting the below-mentioned additional advantages :

Preventive care
Optical care
Prescription drugs
Mental health care
Dental care
Ante-natal and post-natal care

To get the best medical insurance deal, you need to shop around in the market. If possible, take the help of your friends and family members who have recently buy a medical insurance policy.