Health Insurance Plans -- Which 2 Plans are Best for You

A good health insurance plan is one of the most important things someone needs to have for good health coverage. But what should a good health insurance plan consist of?

It can be a bit of a challenge today to find the right insurance plan for someone and there family because of the diverse options available. However when choosing a good health insurance plan, don't simply base decision on the cost of the monthly premium.

Know the details of the health insurance plan – what is the health coverage and what doesn't it cover. Also find out the health insurance plan's in-network as opposed to out-of-network health coverage and expenses. What are its co-payment amounts, deductible amount per family member if applicable, and the coverage caps?

The next step is to find out the health needs of the people included in the health insurance plans. This step can be quite complicated. Is everyone in good health overall? Does anyone have any pre-existing conditions? Would someone at any time feel the need to approach certain medical specialists or institutions? Once they answer these questions, a person will be ready to start choosing a good health insurance plan.

People must gather all possible health coverage options available for there needs. If an employer is offering group insurance, options may be limited. If someone is self-employed, they will have to choose from the different private health insurance plans. Whatever the case is,understand the difference between the two basic types of health insurance plans offered today: the Indemnity Plan and the Managed Care Plan.

With an Indemnity Plan, a person is free to choose when and where they want to get medical assistance. This type of health insurance plan has a higher out-of-pocket cost, but for many people, the added price is fair when they consider the freedom they are getting.

With a Managed Care Plan, the person is required to only use the services of medical professionals and institutions that are part of the plan's “network”. In general, someone would need pre-approval for medical services beyond basic preventive care. In terms of costs, the costs of Managed Care Plan are lower.A Managed Care Plan is a good choice if the person (or there dependents) don't have major health problems, are not concerned about who provides them medical services, or have to keep tabs on there medical costs.

Of course, this was just a very basic overview of the two types of health insurance plans. Research these two plans and study them more deeply