What are the benefits of private health insurance?

Private health insurance

Private Health Insurance

These days, there is an increasing awareness among the people to get the health insurance policy from the best company to cover all your medical needs. The insurance companies have the different types of policies for the clients. But health insurance is very much important to all men and women to afford your unexpected health problems and hospital bills. When it comes to the health insurance policy for the humans, there are two various types of health insurance available such as,

  • Private Health Insurance
  • Public health insurance
Private health insurance:

From among these two kinds of health insurance policies, private health insurance is a right type of insurance plan for affording your unexpected medical bills. This special type of insurance policy is usually offered through your employers and any other organizations. Some of the company owners offer only anyone type of the health insurance plan for their employees. If you are going to the private insurance service providing company, you will get a chance of choosing the best one among the various plans.

Private health insurance policies are actually getting a particular insurance plan on your own not through your employer. Sharing the insurance money with your employer will actually cost more. Thus, it is always better going for the private insurance plan in which you have to pay your insurance money only by yourself. Some of the insurance plans are working with the specific facilities and the health care providers. These facilities are basically the part of the network plans to give much care at the lowest costs. This care in the private health insurance plan will be known as the managed care.

Different types of managed care health insurance plans:

In the Private Health Insurance, the following will be the different managed care plans.

  • Preferred provider organizations (PPOs) – These particular insurance plans actually cover maximum of your unexpected medical bills if you are getting care within the care provider’s network. But, you have to pay your costs for the care from outside of this network.
  • Health maintenance organizations (HMOs) – These health insurance plans basically pay only for the medical care given by the health care providers in their network. Generally, these plans cost only less than the plans offered by others.
  • Point of service – One can choose either HMO or PPO plan for your health insurance each time you will get the medical care. Both these plans are offering greater flexibility to choose the best hospitals and doctors for your medical care.

Indemnity – It is actually the fee for service which is the specified insurance plan different from the managed health care plans. All the choices to choose a particular hospital or doctor for your health care remain same in this plan. But your selected doctor is paid a fee every time you get the medical care which is covered by your health insurance plan. This cost should be from your own pocket which would be higher than the pays in the managed care plans.