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Types of Major Medical plans for individuals ( tip: use the limit plans feature at the top of the quotes to limit the plans by plan type) Copay Plans: These plans cover doctor’s office visits and prescriptions with a copay benefit before your deductible needs to be met. Each insurance provider offers multiple copay choices and their benefits differ from one another. It is important to understand how each of the carriers copay benefits work in order to make the best choice. For example UnitedHealthOne’s copay select plan offers unlimited office visits where as another carrier will have 4 visits/year per family limit. Is a Copay Plan right for you? If you like the security of being able to go to your doctor and/or having prescription coverage without having to meet your deductible first, a
While viewing the quotes, click on a specific plan to view benefit details or check the box in the upper right side of each quote to compare up to 4 plans side by side. If you would like more information than is provided by the detailed quote click on the brochure link in each plan.
2. HSA Eligible Plans- Allow you to use pre tax income to pay for medical expenses by using a Health Savings Account referred to as HSA’s. A Health Savings Account is a bank account, devoted solely to health expenses and used with a high deductible health insurance policy. The funds are then used for medical fees until the deductible is met. Any unused portion remains in the account and earns tax-free interest. Doctor’s office visits related to an injury or illness and prescriptions are covered subject to the plan’s deductible. Some providers such as UnitedHealthOne provide a copay benefit for preventive office visits and lab and x ray expenses related to a preventative visit. They also offer Female GYN exams with $0 copay subject to your plans coinsurance if any.
Is HSA plan right for you? Based on your past history, if you do not visit your doctor because of an injury or illness often this plan may be right for you. Your premium will be less compared to a copay plan with the same deductible and co-insurance. You still will be able to get preventative visits like physicals covered with a copay.
Reduced Benefit or Economy Plans- In order to make premiums more affordable to those with limited budgets, most of the carriers offer a stripped down version of their plans. The plans usually have reduced or no coverage for things such as prescriptions in return for a lower premium. I usually don’t recommend these plans unless because the difference in the premium is not a lot compared to the coverage you lose or the increase in your potential liability
Is an economy plan right for you? If you have a health condition that disqualifies your from a major medical plan and/or if you cannot afford the major medical plan premium
Mini Medical Plans or Limited Expense Plans- These plans have reduced coverage, but offer insurance options for those who don’t qualify or simply cannot afford a Major Medical plan. If you are having trouble qualifying for a Major Medical plan because of a current health condition click here to get a detailed quotes for one these plans. |
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