Klamath Insurance Center, Inc Blog
People need to get insured in this day and age. We never know what can happen in the future so getting Health Insurance can keep this in our family safe from any problems that may arise financially if ever something happens to us.
For this reason, you have to know everything there is to know about Health Insurance and related documentation. This data will keep you aware of your options when it comes to obtaining the best policies in the future.
5 Different Types of Health Insurance
There are four different types of Health Insurance policies that you can choose from as follows:
The Health Maintenance Organization/Platinum Insurance Plan
This type of plan covers at least 90% of your average medical costs while you pay 10%. If you get it for another person or a family member, you will still be responsible for the payments. This particular plant has a network of Health Care providers can choose from with the payments going through the network.
Preferred Provider/Gold Plans
If you go for the preferred provider, you will have a moderate chance of getting the health care provider that you want. You will not have any referrals for healthcare providers from the insurance company as well.
These gold plans cover at least 80% of your average insurance. You will have to pay for 20% of the insurance premium.
Exclusive Provider Organization/Silver Policies
It has a lower insurance premium than a PPO. One downside to this particular policy is that you will have to pay for your medical bills if you decide to consult a doctor outside of the insurance company’s network.
Additionally, with this silver plan, you will have to cover 30% of the costs to have this plan give you at least 70% protection.
Point of Service and Bronze Insurance Plans
In this particular plan, you will have a higher deductible and costs of payment if you decide to work with a doctor outside of the insurance company’s network. You can pay either as coinsurance or copay along with the insurance company itself.
The company will compute these amounts as part of the percentage of charges for care.
For the bronze plans, you would have to pay at least 40% of the premium while the insurance company covers 60% of your medical bills or anyone else that you put under the premium contract as your beneficiary.
The Catastrophic Insurance Policies
These types of insurance policies start to take effect once you reach your deductible limit. Depending on the insurance company, it may reach up to 7.350 USD. Catastrophic plans also cover at least the first three payments for primary care visits as well as free up preventive care for beneficiaries of any age. For some companies, they even offer it even if you don’t reach your designated quota of deductibles.
The Final Words
Whether you get it from the state or your local insurance broker, these four different types will help you out. You should not hesitate to get one of these as soon as possible either for yourself or for your family.
At Klamath Insurance Center, Inc, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (541) 882-5555 or Click Here to request a free quote.