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Health Insurance Guide

Regardless of age, marital status, or career, health insurance is something that no one should be without. With the rising costs of insurance, however, many do not believe that this is the case. But health insurance was designed to keep you from going bankrupt in the case of a medical emergency. Luckily, there are many ways in which you can receive affordable yet quality health insurance.

At Work

Several employees receive health insurance through a group plan that their employer has set up. This type of policy may pay only a part of or the entire premium, but, either way, it offers the lowest cost insurance out of all of your options.

But when business-owners do cannot afford group insurance coverage for their employees, there is always the option of going through your own insurance company, a bank or credit union to join their group insurance.


Consolidated Omnibus Budget Reconciliation Act of 1985, or COBRA, offers affordable health insurance for 18 months at the least. This type of policy is intended for employees who have been laid off and their families, who were all covered by the group plan with an employer, but who are now divorced or widowed.

Through Managed Care or Indemnity

When you come upon the term indemnity plan, you should think of the freedom to choose your own doctor at the maximum premium. It offers the most flexibility but is also the most expensive to have, compared to managed care health insurance policies. It requires that you pay for services upfront at your doctor’s office or hospital immediately after being treated. You will then need to submit your claim to be reimbursed by your insurance provider.

Under the managed care plans HMOs and PPOs, you are given a broader range of coverage than any of the previous two. As the member of an HMO, you are required to choose a primary physician within the plan’s network. You must consult your primary physician before seeing a specialist, and, if your physician were to deny you pre‐approval for treatment, you may not get the medical attention that you require.

HMOs do keep costs low and do not require claim form, but any medical expense
that might accrue because of a medical emergency while you are on vacation, you
may not be covered.

A PPO is very much like an HMO, but is more flexible in that it will allow you to
choose a doctor from outside its network. However, you must pay for the costs of
seeing that doctor.

Travel Health Insurance

This type of coverage offers insurance while you are traveling abroad and is generally quite cheap. It does not include travel costs of the physician, but older patients must pay higher costs for their premium.