Health Insurance Quotes

The majority of individuals get a number of health insurance quotes when looking around for a plan. No one should be without health insurance.  In this day, with soaring medical costs, an uninsured trip to the hospital may easily cost you thousands of dollars.

At first glance it may appear to be a tedious job to obtain several quotes from various insurance carriers, but in the long run, you will be able to make a more informed choice. This decision will not only affect the cost for you, but the level of medical care you receive as well.

There may be insurance companies not willing to accept you if you have several risk factors.  This usually happens if you have been diagnosed with one of many medical conditions.  The insurance company may deny to write insurance for you or may charge you a higher than normal premium.

Most health insurance companies offer several types of insurance.  They are usually grouped into one of three categories:

HMO’s provide no out of network benefit.  PPO’s provide in and out of network, with the best pricing being afforded to those staying in network.  There are also Major Medical plans that offer benefits only for catastrophic medical need. Most health insurance companies sell PPO plans.  PPO means Preferred Provider Organization.

Health Insurance Quotes: Indemnity of Fee-For-Service Plans

The principle behind this type of plan is to use physicians and facilities that are “in network”.  Physicians and facilities have contracts with the insurance company and have negotiated  certain fees for services. Everyone is different and many people are willing to pay higher premiums for the option of flexibility and control of their medical care.

Health Insurance Quotes: Health Maintenance Organizations (HMOs)

HMO’s are encouraged by many insurance carriers because it is less costly to them.  HMO physicians have agreed to negotiated rates and are not permitted to bill the insurance companies for any amounts over the negotiated rates. HMO’s are a group of physicians and facilities that have agreed upon negotiated rates for medical services.

It is imperative that you receive a referral from your primary care physician. If you do not, the insurance company will not pay any benefits towards treatment. If you have conditions that require monitoring by a specialist, an HMO plan may not be the best suited for you.  Under those circumstances, review PPO plans.

Health Insurance Quotes: Preferred Provider Organizations (PPOs)

PPO’s are a type of insurance plan that most insurance carriers provide.  Most people prefer having more control over their medical options than HMO’s provide. HMO’s pay no benefit if you seek medical services outside of the network.  PPO’s do have a benefit for both in and out of network.

However, your out of pocket expense will be much higher if utilizing an out of network physician or facility. If utilizing a PPO plan, you do have the option to go out of network if you choose to do so.

Just remember, you will always receive the best rates for services by staying in network. If given a choice, it is usually best to choose a PPO plan.  This allows more flexibility in choosing your physician and hospital.  PPO plans are also preferable if you do much traveling.  HMO’s are very restrictive.

Where to Look for Health Insurance Quotes

For economic reasons, most employees participate in the health insurance program offered through their employer.  Generally, the employer pays 50 percent or more of the premium. If group coverage is not available through your employer, contact local organizations to inquire if that is an option.  Often credit unions or small business associations have partnered with health insurance carriers and can offer competitive pricing.

Most often, health insurance provided by an employer is less expensive and more comprehensive than individual health insurance. Health insurance  agents are trained and very knowledgeable about health insurance.  They have resources to contact many different insurance carriers for quotes.  Generally, there is no charge for this service.  Agents are paid by commission directly from the insurance companies.