Thanks to rising medical costs, health insurance rates are at an all-time high. But there are places where you can get cheap health insurance in Ohio.
The first thing you need to look at when considering health insurance in Ohio are the types of insurance that are available. There are four basic plans:
1. Health Maintenance Organizations (HMOs) – These plans set you up with a network of doctors and hospitals who provide your health care. You must choose a primary health care physician who oversees your care and refers you to specialists, and you are only allowed to see physicians within your network.
HMOs are the cheapest of all the health care plans. They have low co-payments, usually $5 to $10 per doctor visit, and involve the least amount of paperwork.
2. Preferred Provider Organizations (PPOs) – Similar to HMOs, these plans set you up with a network of health care providers, but unlike HMOs you may see specialists within the network without getting permission from your primary care physician. If you see a non-network physician you may have to pay the bill yourself and submit it for reimbursement.
PPOs cost slightly more than HMOs, and co-payments average $5 to $10 per doctor visit.
3. Point of Service Plans (POSs) – These plans also set you up with a network of health care providers, but, for an additional fee, you may see a physician who is not part of the network.
POSs generally cost more than PPOs but are more flexible. Co-payments average $5 to $10 per visit.
4. Indemnity Plans – These plans let you choose your own doctor and hospital, and you can visit any specialist you choose. You pay a deductible, usually $500 to $1,000, before your insurance company will begin paying claims. After you pay your deductible, your company will pay most of your medical bill, usually 80%, and you pay the remaining 20%.
Indemnity Plans are the most expensive health care plans and involve the most amount of paperwork.
Low Cost Health Insurance in Ohio
In order to get the best rate on your health insurance policy you need to compare rates from different companies. The fastest way to do this is to visit an insurance comparison website where you’ll not only get multiple rate quotes, you’ll also be able to get advice from insurance experts who can help you find the best policy for your needs. It’s quick, it’s easy, and it’s free.
By: Brian Stevens
Posts Tagged ‘Insurance Company’
Where to Get Low Cost Health Insurance in Ohio
April 25th, 2010Health Insurance 101
April 25th, 2010
Health insurance is a kind of insurance wherein the insurance company pays the medical costs of the insured individual if the individual in question falls ill due to covered causes, or due to accidents. The insurer may be a private organization or a government agency. The major purpose of health insurance is to cover medical expenses and any lost income while the individual is not well and unable to function normally.
There are different types of health insurance policies. The two most common ones are major medical and disability insurance. A major medical health insurance policy provides benefits for sickness or injury, irrespective of whether the care is provided at a doctor’s office, clinic or hospital. The types of sickness and injury covered are typically broad, although there are always limitations that you may want to discuss with your agent prior to purchasing the coverage. Major medical policies normally have an annual deductible and a lifetime maximum amount of benefits that will be paid.
Even if you are covered by a group insurance at work, you might consider taking an individual policy if you may change jobs soon, or if certain benefits that are not provided in the group policy.
A deductible is an annual amount that you will have to pay per insured person, before the insurance company begins to pay on your bills. There is an upper limit for the maximum amount of deductibles you will have to pay in a given year.
In a health policy, coinsurance refers to the percentage of the medical bills that the insured individual will have to pay after the deductible is met. Usually the health policy would have a provision called a ’stop-loss’ – this is the maximum amount you will have to pay for covered medical bills.
By: Chris Tolamalu
Colorado Individual Health Insurance
April 24th, 2010
The increasing cost medical care is of great concern to many people. The cost is so high that many healthy are choosing to have no coverage at all. This proves costly to the state of Colorado and to its medical providers because the non-insured is treated for emergencies regardless of coverage.
There is state run programs in Colorado hat offer free medical benefits if one qualifies. But, for the most part, if your employer does not offer health insurance, you will probably need to purchase an individual plan. These plans are offered by various companies who have the right to turn you down if you have a pre-existing medical condition. Other companies might accept you, but there could be restrictions and your premium will be higher. There is no such thing as a standardized policy in Colorado. This means insurance companies can make their own stipulations. However, all plans have to cover certain screening and prevention programs. You need to research any insurance company you are thinking of purchasing individual coverage from.
When buying individual health insurance coverage you must consider several options like how much do you want to pay out of pocket for doctor visits; do you want medications covered under the policy and what are the co-pays for office and emergency room visits?
For those looking for ways to reduce their taxes, a higher deductible health insurance is the way to go. There are policies designed for families of all incomes.
Colorado is designed to help those who are having a hard time finding affordable health insurance coverage. For further information you may contact the Colorado Division of Insurance.
By: Peter Emerson
