Private Family Health
Insurance: a challenge for many Americans
There
are, however, options available to you
Due to the high
cost of health insurance, many small companies no longer provide it
for their employees.
If you are working for
an employer who does not provide health insurance, you are one of
millions. You are afraid of the slightest cold for fear it will
turn into something that will result in a high doctor bill, or lead
to a medication that will financially disrupt your family. Health
insurance has definitely changed in the last ten years. However,
there are still affordable options available. Use
our site to find a company and a price that meets your needs.
In 2004, the number of
non-elderly, uninsured individuals in the U.S. was 34.4 million
people, and growing. Hospitals and doctors increase their rates
yearly. And insurance companies are not a non-profit industry.
Fortunately we can help.
You have some options, depending on your needs.
Traditional
Health Insurance
With traditional health insurance, you pay a premium along with
deductibles and co-pays up to an out of pocket max. The company
pays the rest and you can go to any doctor you want. There is
no network, but the insurance company will have a list of "participating
providers" meaning the doctor will bill the insurance directly
and accept payment as payment in full. If you do not use a participating
provider, you will have to pay a higher percentage of the bill.
HMO: Health
Maintenance Organization
These are harder to find but are available and are the least expensive
of the true health insurance programs. You have a primary care
doctor who is paid by the company. You pay a small copay when
you see the doctor and a smaller percentage at the hospital. You
cannot go to any other doctor without a referral.
PPO: Preferred
Provider Organization
With the PPO, you have a network of doctors to choose from. You
do not have a primary care physician and can go to any doctor
in the network. If you go outside the network, you may have to
pay a larger portion of the bill yourself.
PFFS: Private
Fee for Service
The PFFS is one of the newest terms in the health care industry.
For younger people it works much like traditional health insurance.
For those over 65, it is an alternative to the rising costs of
Medicare and Medicare Supplements. You have a small—or no—premium,
paying only when you need care. Then you have a small co-pay or
a percentage of the co-insurance. The company—supported
by the Medicare system—pays the rest of the bill.
Non-Insurance
plans of coverage.
Several health coverage
options are available that are not considered insurance. They lower
your costs, and the premiums are much less than insurance.
Fraternities
and Brotherhoods. With these, you pay a monthly fee that
usually goes directly to another person in the organization who
needs the money for a large bill. When you have a similar bill,
the money comes to you.
Discount programs:
Companies that promise huge discounts usually do not deliver quite
as well as they suggest. Some say up to 80% reduction in a hospital
bill. Very few actually get the hospital to drop the bill that
much. They do not pay the hospital or doctor. For a fee, they
simply negotiate a lower cost which you pay.
Indemnity programs:
These are the options which many non-insured have selected. You
pay a monthly or annual fee. If you need care, the plan pays you
directly, giving you a pre-determined daily amount for hospital
or outpatient care. Some of the checks sent to you can be quite
substantial, depending on the company. Some also have indemnity
amounts for things like x-rays, lab-work, and so forth.
HSA: Health
Savings Account.
A health savings account is a type of IRA owned by you. It allows
you to find insurance with a lower premium, because you can take
a deductible of $2500 or more. You fund the IRA before taxes.
You then pay your deductibles, co-pays, and other health related
incidentals out of the IRA. Distributions, when used for health
related costs, are tax free. Furthermore, if you put more money
in that you use in a year, it grows at an interest rate set by
the bank. This way you can accumulate funds for future health
needs but still have coverage for a costly emergency or serious
illness.
Take
a moment to .
You will be guided through a quick and easy process to receive a
free quote on health insurance. You may be surprised how
cheap it is!
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