Affordable health insurance is a concern for most people – especially if they have children. As more people fall into debt due to medical expenses, it is vital to find affordable health insurance.
Health insurance is beneficial. Even a relatively healthy person may find themselves struggling with an accident or injury. Without a policy, medical expenses can result in debt that lasts for months or years. Debt from health expenses is the number one cause of bankruptcy, so those without coverage should consider their options.
The benefit of health insurance is it covers some or all of the costs for medical emergencies, checkups, or ongoing health issues. The amount of coverage depends on the style of insurance. HMO and PPO are the two common types of health insurance. Those with coverage can make payments directly to the carrier or go through their employer.
A health maintenance organization (HMO) involves a primary care physician to assist with medical needs outside of emergencies. The physician directs patients to in-network services, which keeps costs low. A participating provider option (PPO) allows patients to receive medical assistance in or out of the network without a primary care physician’s referral. Costs are higher for a PPO, but there is more freedom so it’s a popular choice.
No matter the type of coverage, it is important to have medical insurance. Without this coverage, a minor injury could lead to astronomical medical bills. Speak with your employer or an insurance agent to learn more about health insurance.