Title: The Roles of Health Insurance in America
Introduction
Although, health insurance is one of the most important things in our lives, which most of us don’t really ponder over until the need arises. Spoken of the hospitals, surgeries, prescriptions, health services are very high in the United States therefore you must have health insurance in this country. CDC also reported that the simplest hospital stay, which may last only three days, can cost between $30,000 and $100,000. And that is why health insurance is important to put an individual and families in a position to afford the heath care they require.
This blog provides information on health insurance in the United States and also types of health insurance, advantages of health insurance, and how to gain health insurance.
There are two types of Health Insurance Plans – Individual & Family Health Insurance Plans.
There are mainly two types of health insurance plans in the United States: public and private and both sponsored.
- Private Health Insurance Plans: Employer sponsored and insurance plans are managed by insurance companies and employers respectively. There are several types of private plans, including:
- HMO (Health Maintenance Organization) Plans: When adopting an HMO plan, you are usually selective of a doctor known as the primary care physician who in turn, directs you to a specialist when needed. Additionally, their premiums, and out of pocket expenses are more often than not lower than other types of plans.
- PPO (Preferred Provider Organization) Plans: Generally, there is more flexibility associated with PPO plans than is true of HMO plans. Unlike an EPO plan, PPO plan can involve any physicians and specialty care providers without a prior authorization. However, you may end up paying a higher price for a service offered by providers out of the plan network.
- POS (Point of Service) Plans: Point-of-Service (POS) are a combination of HMO and PPO Health Care plans. In POS, you have to select a primary care provider, and most of your doctors, specialists, and hospitals per plan guidelines may charge a maximum out-of-pocket amount. But if for any reason you want to see or visit a specialist or other provider not in the network, you’re free to do so, of course, at a higher cost.
- Government-Sponsored Health Insurance Plans: There are different programs through which government sponsored health insurance plans are provided as under:
- Medicare: Medicare is a health insurance program funded by the federal government for individuals those who are 65 and above, persons with disability and those with ESRD.
- Medicaid: Medicaid is a federal and state funded assistance for low income groups such as children, pregnant women, elderly and the disabled to have access to medical care.
Advantages of Being Under a Health Insurance Plan
Having health insurance coverage comes with numerous benefits, including:
- Protection Against High Medical Costs: One great advantage of having health insurance is the shield to a health insurance holder against what otherwise would qualify to be exorbitant expenses for medical bills. For a fixed amount of money called the premium, you and your family members will be protected for various costs like that of doctors, hospital and medicine.
- Access to Preventive Care: Health insurance plans offer preventive care services such as annual physicals, inoculations and cancer related examination. When you use these services you are able to avoid getting sick and can identify any diseases early enough thus improving your health and reducing costs incurred in the process of seeking treatment.
- Financial Security: Health insurance is very important as it will be a back up for you and families just in case anything will happen to you. In the case of an accident or when you contract a life threatening illness you are not required to worry about how you will raise cash for your treatment. However, your health insurance plan will cater for the costs meaning that you will not be a strain on the hospital meaning that you will have time to recover.
- Coverage for Mental Health and Substance Use Disorder Services: For the most part, health insurance plans cover mental health and substance use disorder services that can help many people and families. The plans covering mental health thus assist in the fight for the well being and good quality of life of all those suffering from mental health issues.
The American dream grab the health insurance coverage .
There are several ways to obtain health insurance coverage in the United States, including:
- Employer-Sponsored Plans: One of the benefits policies that employers offer their employees is to provide their employee with health insurance. If your employer is providing health insurance as one of the employee benefits, chances are he will pay part of the premium on your behalf.
- Individual Health Insurance Plans: You can also get an individual health insurance on your own from an insurance company or through the health insurance marketplace which was established by ACA commonly known as The Affordable Care Act . You will find different types of plans on the individual market depending on your health situation and your pocket.
- Government-Sponsored Plans: HMOs can also be government financed and if you are eligible for a government financed health insurance program such as Medicare and Medicaid you can enroll in the program and get your health expenses covered.
Therefore, there is really no doubt that health insurance is very vital to the lives of many people not to talk of in any way be played with lightly. From this article, you can learn what types of health insurance exist, and the advantages of having one, so that you can think through all the potential issues and hereby protect you and your family from unexpected high bills. Regardless of whether you decide to have a private plan, a governmental plan, or an employer’s plan, you should have health insurance to avoid harming your health and your pocket.
