Generally, group policies are purchased through an employer, associations, or unions. They may be less expensive because the costs associated with administration are reduced. In addition, the employees or association may pay part of the premium. Group health insurance has become an incentive for potential employees who are trying to cover their or their families health care expenses. Some policies offer managed care. Depending on the policies of a managed care provider, preventative health care may be part of the plan. Preventative measures may include regular checkups.
Individuals may purchase individual health insurance policies in the absence of company provided benefits or if they are self-employed. Generally individual health insurance plans can be more expensive, however, they also have some benefits. Individual policies can be customized for your specific needs. Shopping around for health insurance can be helpful by allowing you to compare the benefits and cost of different types or level of coverage you'll need.
Health insurance can cover a variety of expenses. For example, it may pay for the cost of hospitalization or surgery. It may also pay other hospital expenses such as the cost of the hospital room. All health insurance policies are not equal in this regard. Some policies will pay a flat rate daily for the cost of a room. Other types may pay everything after the deductible for the room.
Health insurance may also cover expenses due to a disability, and may cover rehabilitation such as physical therapy, or aftercare. Disability insurance, a type of health insurance, may pay expenses for loss of income in addition to health care expenses.
Some policies also provide benefits for medication or necessary medical devices such as a pacemaker. Also, some contemporary health insurance policies provide some dental coverage. However, it's important to note that levels of coverage will vary between policies, sometimes significantly.
Health insurance may seem like an undue expense when you are young and healthy, but it's invaluable when you need it most. Consult with a health insurance agent to make sure you have a good understanding of the benefits of your plan. They can help you answer any questions you may have about the conditions and benefits of your policy. It can also be helpful to compare a number of health insurance companies, so you can get the best policy for your individual needs at the lowest rate.