Health Insurance Policy?

How Can You Secure Your Future? Invest In Health Insurance

  • Author : Jasmine
  • Published : August 07, 2020

We all know that prevention is better than cure—but for medicines, what can be better than a Health Insurance Policy? The idea to get all your medical expenses and cost of treatment covered by paying small premiums can prove to be a life saviour, especially when the healthcare costs are increasing exponentially.

How Can You Secure Your Future? Invest In Health InsuranceHow Can You Secure Your Future? Invest In Health Insurance

A healthcare policy will prove to be one of the most valuable acquisitions you will make during your life— so buying it right is a responsibility. Many of us don’t completely understand the components of specific policies and end up buying the ones that are unnecessarily expensive and don’t even provide the coverage we need.

Having a good knowledge of the components of a Health Insurance will not only help you find the right policy but also let you understand how it works. Talking of the components, there are many, and this article will cover all of them.

Components of Health Insurance Policy:

  • Insurance premium or the fee: It is what you pay to the insurance company to secure coverage of the medical expenses and treatments described by the policy.

Exclusions or the expenses

  • Deductible or the initial medical costs: The insured pays the deductible to bear a portion of the risk, up to an agreed-upon amount.
  • Copay or the portion of the cost of the covered treatments, meant to discourage frivolous use of medical services.
  • Coinsurance or an amount the policyholders are liable to pay towards the medical expenses of the insured. It usually accounts for 80 per cent of the total treatment costs.
  • Exclusions or the expenses: The policy will not cover the costs excluded. The non-covered costs will be determined by the type of medical condition and treatment.
  • Coverage or the maximum amount the insurers will pay towards the expenses. Insurers limit their liability by setting a coverage amount that is typically between $500,000 to $1 million.
  • Out-of-pocket Maximums or the maximum amount the insured can spend while the health insurance contract still is in force.
  • Preauthorization or prior approval for a medical procedure or specialist visit to ensure if the service will be covered.

Rates.Healthcare—The one-stop destination to get Health Insurance:

Rates Healthcare is not an insurance or operating company, but it connects individuals with insurance providers and other affiliates. With thousands of healthcare plans to choose from, buying health insurance can be an overwhelming process. But now that the Affordable Care Act or Obamacare is in force, it is much easier to find a plan suitable to your income and personal needs. At Rates. Healthcare, you get a chance to choose from thousands of different health insurance based on the state you live.

  • Click on the link to start.
  • After that, choose the state of your residence.
  • The one-stop destination to get Health InsuranceYou will be redirected to the next page. Fill out your necessary details like:
  1. First Name
  2. Last Name
  3. Date of Birth
  4. Gender
  5. Tobacco Use
  6. Click on next
  • After that, you will see a list of quotes to choose from.

Besides, you can talk to an agent to get answers on all your queries. Getting your health insured couldn’t be easier. So, click and secure your life. 

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