In The Venue

Personal Health Insurance

Written by Jonathan Green

Personal health insurance can be categorized into two types. One is the private health insurance provided by the employer. The other is the public health insurance provided by the government. When a person is employed in a company, he/she is covered by a health plan by the employer or the employees’ union. He/she can buy a health plan from a private health insurance company. Employment based insurance covers the employee by virtue of his/her job. The dependents of the employee are also covered by this plan. An employee is covered by a health plan due to his/her employment and the policy holder is only covered.  An individual can buy the direct purchase health insurance coverage from a private organization. A person employed in the government sector enjoys good care through government health insurance. Either the local level government or the federal government can provide personal health insurance plans for their employees. They are divided into many schemes like Medicaid, Medicare, Indian health service, military health care and the state children’s health insurance programs. For people over 65 years of age and some people of lesser age with chronic disabilities, the federal government provides Medicare to pay for health care charges. State level government assures medical support for the patients through a scheme called Medicaid. The scheme is named differently in each state. Parents whose income does not match the Medicaid scheme are classified under the state children’s health insurance program by which the children are provided health care. Military people in service or retired can claim the military health care program called CHAMPUS. Their family members and the parents are also entitled to this program. The state department of veterans’ affairs arranges payment for medical services of veteran people and their dependents through a scheme called CHAMPVA. The scheme named VA provides medical care to veterans in the armed forces. Some low income individuals who are not insured are helped by some states and the scheme is named as the state specific plan. Indians settled in America are provided with medical assistance under the Indian Health Service by the department of health and human services. IHS bares the cost of medical care for services provided at centers other than IHS. Many people in the US seem to ignore the personal health insurance options due to the increased rates but they have to understand that visiting the doctor is indispensable at any stage of life. Consolidated Omnibus Budget Reconciliation Act (COBRA) is a law in the US which provides employees the chance for extending health insurance coverage even after resigning from the job. The employer sometimes provides group health insurance for the employees on accepting the company’s terms of a lower payment. Group health insurance is cheaper than personal health insurance since the latter has much more benefits. The employee gets insurance coverage when he/she is out of job. The personal health insurance covers all types of medications and treatments the applicant has to take up when he/she is suffering from illness. A personal coverage option always enables the employee to choose better rates corresponding to his/her requirements. Some house insurance plans offer schemes in which the employee gets medically insured for a rebate.  A person who is healthier proved by diagnosis by company doctors, will have to pay lower costs towards insurance. So everyone is advised to maintain clean habits staying away from drinks and smoke. A person can consult a good health insurance specialist to have a good idea of various options in personal health insurance. There are combinations of higher premiums but lower deductibles and higher deductibles for lower premiums. The insurer can choose health care plans that take care of major diseases and treatment. The person’s past health condition and at the time of submitting application are considered by the health insurance specialist to help him/her get the best carrier. Group Health Insurance is better than personal health insurance in that the former has a lower rate. Only two employees are needed to make a group health insurance. Even the employer can reduce the burden by changing over from personal health insurance to group health insurance. The businessman should prove to the insurance company that his business is genuine and legitimate by producing evidence of documents like official license for the industry and official wage list. There are many options in group health insurance plan online. Health insurance plan can be smartly used for tax benefits. Short-term health insurance plan is devised for the unemployed person. The rates are obviously lower which match the person’s budget. The term for the insurance plan is from 6 to12 months. Some health insurance plans have free or low rate health coverage for certain income group. A person whose employment status is disturbed need not experience the same change in his/her health also.

 

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