Even if you are in good health, having health insurance is important. There are many plans available in or out of the marketplace. You can choose a low-deductible plan with a large network of many doctors, a cost effective high-deductible plan, or choose a plan to accompany your Direct Primary Care Physician. There are many options available. We are here to help you find the plan that's right for you. Contact us to learn more.
What are the major types of health insurance policies in Kansas, Missouri, Texas, and Illinois?
There are basically three major types of health insurance policies for Kansas, Missouri, Texas, and Illinois residents to choose from--consumer-directed, fee for service, and managed care. These health insurance plans help cover your medical, surgical, and hospital expenses. They may even cover dental expenses, mental health services, and prescription drugs, depending on the coverage you choose.
A consumer-directed health plan is a newer type of healthcare plan and typically carry a high deductible. As part of the plan, you setup a Health Savings Account (HSA) that can be used to cover medical expenses. Many people choose to pair this type of plan with direct primary care.
Fee for Service
A fee for service plan is a more traditional healthcare plan. It means you pay a fee to your provider for every healthcare service you receive. The benefit of this type of health insurance plan is that it allows for a lot of flexibility when choosing a physician or healthcare provider.
Members of managed care health plans generally enjoy more benefits like lower out-of-pocket costs. However, you can only receive treatment from physicians that participate in the managed care network. Typical managed care plans include health maintenance organizations (HMOs), preferred provider organizations (PPO), and point-of service (POS) plans.
Common Health Insurance Terms
When discussing health insurance with a Edie Insurance Group, LLC agent, it helps to understand some of the common terms you’ll run into. Below you’ll find definitions to some of the most common health insurance terms.
- Deductible - the amount of money you pay toward medical bills before your insurance coverage begins.
- Co-pay - a specified amount of money you pay upfront for doctor visits and prescription refills.
- Coinsurance - the percentage of medical bills you pay after meeting the deductible.