Having health insurance (especially in the USA) is a great way to get the care you need, without having to cover the high costs all alone. Without insurance, different diseases, ailments, surgeries, and procedures can cost a ton of money and put people in serious debt.
Insurance allows them to stay healthy, without ruining their finances. Getting health insurance can also be a relatively quick and easy process. However, not all health coverage and insurance plans are created equal.
There are a few different options you have when it comes to choosing health insurance. In an effort to help you out, this article is going to serve as a comprehensive guide on some of the most popular health insurance coverage options.
Employer-Provided Health Coverage
In the USA, almost half of all people get their health coverage through their employer. This is generally called group coverage and is when your employer agrees to cover a portion of the cost of your healthcare. The amount that an employer will cover can change from company to company.
These are generally quite affordable for individuals. Because the group plan covers so many people, things like premiums and deductibles are often lower than with other plans. These will cover the same essential benefits as other plans, but some companies may opt for additional types of coverage that others might skip.
Your company should be able to provide you with a comprehensive review of the health insurance plan they offer before you agree to use it, of course.
Private Health Coverage
If you don’t get health coverage from your employer, another option is to purchase your own private health insurance. There are many different options, and they can either be purchased through a marketplace or from health insurance companies directly and even through brokers.
Each of these plans can be different and will cover different amounts of different things. However, each will still cover the essential benefits, and potentially a few other things if they are mandated by your state.
While some are more expensive, they also give you the ability to customize your coverage more than an employer-provided plan would. You can choose to pay for the coverage you want and need, and not things you don’t. Of course, there are also very affordable options out there, as well. It can be a little overwhelming with so many options, but if you know your needs, you should be able to narrow it down and find the right one.
Public Health Coverage
In addition to private health coverage, there is also public health coverage. This includes things like Medicare and Medicaid. Medicare is a federal insurance program for individuals over the age of 65. Medicare can be done through the government, or through private health insurance companies (which is called Medicare Part C). Medicare is often free, or very affordable compared to other plans for seniors.
Medicaid, on the other hand, is a federal program for low-income families or individuals to still be able to get quality coverage. It will be much more affordable, but the eligibility requirements differ from state to state. These are both great options that cover millions of Americans, but you need to ensure you qualify for them before attempting to choose these as your health insurance coverage option. A quick online search should be able to help you learn whether you are eligible for either or not.
In conclusion, we hope that this article has been able to help you learn about the different options you have when it comes to the type of health coverage you want.