Catastrophic health insurance is amongst the least expensive forms of health insurance. Deductibles, the amount the individual pays out of pocket before insurance begins paying, are generally large for these types of policies. There may also be caps on the amount the policy will pay in case of illness. These policies are only suitable for individuals with the financial means to handle routine illnesses and hospitalizations.
Short-term health insurance is similar to term life insurance in that it can only be purchased for a specific period of time. Coverage provided by the policies ranges from catastrophic to comprehensive, with the latter considerably more expensive. Short-term health insurance often comes with strict qualifying procedures and may not cover pre-existing medical conditions. In particular, pregnancy and childbirth are not usually covered by these policies.
A Preferred Provider Organization (PPO) is a health insurance plan where medical treatment is fully covered if provided by a doctor or hospital belonging to the PPO's network of health care providers. Treatment performed outside the network is also covered, but at a reduced rate. Policy holders are liable for any differences if seeking out of network treatment. PPOs are essentially a group discount form of health insurance; by maintaining administrative control over a group of doctors and hospitals, PPOs are able to provide medical care at a discount. PPOs generally require prior approval before allowing major medical services.
Post new comment