4. Health Insurance

Health insurance provides coverage for medicine, visits to the doctor or emergency room, hospital stays and other medical expenses. Policies differ in what they cover, the size of the deductible and/or co-payment,  limits of coverage and the options for treatment available to the policyholder. 

a. Types of health insurance

The differences among these plans include the choice of health care providers (doctors, etc.), out-of-pocket costs  for covered services (the amount you will pay when you need healthcare) and how bills are paid. There is not one “best” plan for everyone. No one plan will pay for all the costs associated with your medical care.

Here is a brief description of the types of available health insurance plans: Indemnity Plans; Managed Care Options; and Government-sponsored Health Insurance

There are three main types of health insurance plans:

1. Indemnity plans (fee-for services)
2. Managed care plans
3. Government sponsored plans