Brief Classification of Health Insurance Plans based on Chief Segregating Factor

Posted by Alzbeta berka on February 4th, 2018

When you are living in your hometown or your country, then you have friends or family members to help you during emergencies. If you are short on cash during the treatment, then you can borrow money from your friends, relatives or family members. However, you may not have this facility when you live outside your country. You may experience the similar problem when you move to a new city where you have zero contact. Do you want to miss adequate medical care due to insufficient money? Or do you want to be treated under the care of first-class physicians, nurses and hospital staff? It is expensive to keep premium-quality diagnostic and surgical equipments in the hospital. It is equally expensive to maintain sanitized rooms, operation theatres, imaging suits or to distribute properly conditioned air through the hospital. The hospitals ask patients to pay for these expenses; however, you may or may not have sufficient amount of money to make the payment at the time of emergency. A medical insurance plan can appear as your saviour in these situations.

Insurance Classification

Government Aided and Private

The government of the country or city you reside in may offer you a medical indemnity plan with the promise of subsidy. You may need to pay a nominal amount to receive the facilities due to the government’s assistance. The private insurance companies also offer medical plans to the natives of a country and to foreigners. You need to pay premium for these policies on a monthly, quarterly or yearly basis. The amount of premium varies from one insurance company to another and this amount also depends upon the type of the policy.

Exclusive Cover and Moderate

The terms and conditions of the health insurance plans also vary from one policy to another. Some policies can cover for all sorts of expense starting from the hospitalization bills to doctors’ appointments. On the other hand, some policies only cover for expenses incurred due to hospitalization. The policies offering more benefits are more expensive and you are supposed to pay hefty premiums for these exclusive health plans. Some of these exclusive policies may let you acquire financial support for medical care in multiple countries.

However, it may not be possible for everyone to pay the substantial amount of premium essential to avail the exclusive care. In this scenario, you may opt for an indemnity plan that covers for the expenses stemming from hospital admissions, medicines and some of your doctor appointments. The expense of this type of coverage may not extend beyond one state. The insurer may even compel you to see the doctors of their choice in order to receive cost-free care. However, this type of health insurance policy still covers for a lot of your medical expenses. Therefore, it is essential to have an indemnity plan to keep you covered during medical emergencies.

When you are looking forward to insure your health and medical expenses, it is essential to read all details including the terms and conditions written in fine prints before making any conclusive decision. This type of attentiveness may help you select the best plan for your care.

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Alzbeta berka
Joined: December 25th, 2017
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