Today, more than ever before there are many health insurance alternatives to the two most common choices: employer sponsored insurance plans, or Medicare. But the good news is that there are many health insurance alternatives to these two options too!
Medicare – This is basically the federal government-sponsored health plan for those aged 65 and over, people with disabilities, and people who have disabilities that are life-threatening or debilitating. Medicare is actually a very traditional fee-for-service plan, meaning you will only need to go to an approved health insurance provider in your area to get treatment. However, there is one major disadvantage: you’ll be limited to getting Medicare through your employer (meaning you won’t be able to receive treatment from non-approved health insurance providers).
Another option for getting health insurance is private health insurance, which is basically a separate program that covers health insurance premiums and deductibles for individuals or family plans. Private health insurance plans also have special plans for women and different plans for people of different ages, income levels, and medical histories. In fact, there are private health insurance plans for just about everyone.
These health insurance alternatives all differ in their coverage and cost structures. Each of them has its own set of advantages and disadvantages. For example, Medicare and private health insurance are both great ways to get health coverage at low costs. If you’re currently covered by Medicare, private health insurance, or a Medicaid program, these two options should fit right in.
But Medicare isn’t without its problems. The primary issue with Medicare is that it’s extremely expensive. There are some people who will qualify for Medicare who don’t, and even if you do qualify you may not receive as much benefit from Medicare as you would if you’d bought it yourself. Furthermore, your out of pocket expenses on Medicare can become quite high. And, because of this, Medicare may not be the best choice for many people.
But there are other alternative health insurance alternatives. For example, private health insurance plans (sometimes called health savings accounts) and Health Reimbursement Arrangements (HRA’s) work great for many people because they are flexible, inexpensive, and allow you to get treatment from your doctor whenever you want. There are some special plans for children, senior citizens, and even people who’ve had serious injuries or illnesses that require a lot of medical attention. Even in these plans, however, you may not be covered when it comes to prescriptions, surgeries and hospital visits to doctors. For example, HRA plans do not cover hospital visits for dental care.
There are a few types of medical plans that do provide coverage to your medical needs, however. You’ll have to ask your doctor what the specific plans are and what type of coverage you’re eligible for, but some of them include Medicare Supplement Insurance Plans, Health Maintenance Organizations, HMO Plans, PPO Plans and Preferred Provider Organizations. However, these plans may be more costly than Medicare plans and there is a higher deductible required in order to get them. So if you really need access to a specific type of medical treatment, these plans may not be right for you.
For example, an HMO plan covers only the health care provider, the hospital, and your physician, while PPO plans cover only doctors, hospitals, and pharmacies within a network of providers. A Preferred Provider Organization is similar to an HMO, but you can choose any doctor you want to see within the network. If you’re looking for an HMO plan, but don’t mind a higher deductible, then a PPO plan may be your best option. and this way you’ll get all the health care you need, without being overspending for it.
Of course, if you already have health insurance plans and you’re thinking about changing or terminating them, then you may want to check into health maintenance organizations (HMOs) or even a preferred provider organization. instead of switching to a PPO plan. or an HMO. This is because PPOs can be very expensive, especially if you aren’t enrolled in a large network.
But if you are a part of one of these plans, and you want to find health care coverage that is more affordable than those two, then consider looking into an HMO. An HMO usually has a lower premium and often offers more affordable, flexible health care. They also cover more of your medical bills, and you can have as many doctors within a network as you like. PPOs tend to have higher deductibles and a shorter time period before the coverage is withdrawn or changed out completely.