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Insurance Article

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Health Insurance Overview

Simply defined, health insurance is coverage purchased from an insurance provider that guarantees to pay part or all of your medical expenses in the event that you fall ill or become injured. Most insurance plans are paid monthly (either by the individual or her employer), even if the individual covered by the health insurance plan is in good health and files no insurance claims. The payment to the insurance company is essentially a payment in case something happens.

Affordable Health Insurance

When purchasing health insurance, the goal is to find affordable health insurance that also provides comprehensive health coverage. One of the most important things that you can do to make sure you get the most coverage for your money is to shop around with several insurance providers. You should inquire about the following when looking for a health plan:

  • Do you qualify for government provided insurance programs like Medicare or Medicaid? You may be able to get health care for free depending upon your age and income.
  • Is there a co-payment? This is the amount that you agree to pay along with the insurance company.
  • Is there a deductible? This is the amount that you must pay for health care before the insurance company will pay anything.
  • What exactly does the plan cover? Will it cover doctor's visits, hospital stays, emergency room visits and prescriptions? Find out exactly what is covered and what is not.
  • What is the process for filing insurance claims? Who needs to be involved and what documents are required for approval?

Things to Keep in Mind About Health Insurance

Many insurance companies are for-profit businesses, which means that they are in business to make money. In this case, the "good" they are charged with handling is your health. As such, never be afraid to challenge a denial of coverage. If you are denied, talk to as many supervisors at the company as you can until you receive a satisfactory answer. If your insurance company is unable to meet your needs, then you are certainly within your rights to take your business (and your health) elsewhere.