Health insurance does not stop at traditional insurance (fee for service plans) or at managed care (HMO/PPO plans) – there is more to it than meets the eye. Here are the other categories of insurance you must consider before jumping on the usual health insurance schemes:
Medicare: Medicare is the government's health insurance plan for those over 65 years and for specified disabled Americans. Medicare is divided into two parts – hospital insurance and supplementary medical insurance, which pays for doctor's fees/supplies and some healthcare services. Hospital insurance comes free, but the supplement part carries a premium. Medicare's supplement insurance plan does not cover nursing home care, long-term home care and prescription drugs. Retired and diasabled Americans consider Medicare plans as a blessing in disguise.
Hospital Indemnity Insurance: This type of health insurance pays you a fixed sum per day, for up to a certain specified number of days spent in a hospital. The hospital stay can be for medical or other healthcare purposes such as acupuncture, ayurvedic treatment, etc. These kind of policies are ideal if you want to relax and rejuvenate – remember, such healthcare-related relaxation may not be covered by your existing health insurance leads plan.
Long-term Care Insurance: This type of insurance covers healthcare expenses incurred on nursing home care. Now, it is well known that nursing home care can cost up to thousands of Dollars every month, which is a reason why nursing home costs are usually not covered (they may be covered in a limited way though) in standard health insurance plan as well as in Medicare plans. This type of plan is beneficial to those who are sickness-prone or who have been diagnosed with a sickness that needs prolonged nursing home care.
These were some of the other types of health insurance plans available in the market. Before you buy a health insurance biography, speak to a health insurance expert, explain your requirement to him and settle for a plan that best fits in with your healthcare needs.
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