The main point to notice while buying health insurance is to know the types of plans and what medical coverage you need.
Once a consumer knows what he/she wants and can expect in the market,
the decision could be far easier. Let's have a peep on various types of insurance plans offered to the residents of Florida.
Types of health insurance plans
As usual, health plans in Florida are offered to the residents in traditional format. These could be classified as:
1. Individual Insurance
2. Family health coverage
3. Group insurance
4. Student health insurance
5. Dental insurance
These plans, as clear from the name, cater to the needs of individuals, families and businesses depending upon the nature of needs. Group health insurance can be offered to small and large businesses depending upon the number of employees that want to be considered. A minimum of 2 employees should be there in order to avail a group insurance policy. The main difference between individual and group insurance is that group health insurance calculates the premium based on the condition of the whole group and not on any particular individual.
Student health insurance and dental coverage are like specific health insurance policies directed towards a particular audience.
Traditional indemnity insurance plans in Florida
Indemnity health insurance plans in Florida offer reimbursement against the claims made by an insured person. These health insurance plans offer basic and comprehensive coverage based on the premiums paid and deductibles agreed by the insured person. As clear from the name itself, comprehensive health insurance plans would have more coverage as compared to basic plans.
Managed health care plans in Florida
Unlike indemnity health coverage, managed care insurance plans involve a group of medical providers that offer comprehensive medical services. They are called preferred or participating providers.
There are basically three managed care options:
Health Maintenance Organization or HMO
HMOs allow the insured person to select a primary care physician from the plan's list of medical service providers. If it is necessary, the primary care physician will refer the insured person to a specialist.
Preferred Provider Organization or PPO
PPOs allow the members to avail large medical care network. At a slightly higher cost, a PPO generally allows its members to receive care outside its network of providers
Point of Service feature or POS
POS medical plans are special types of HMOs that allow the members to select a non-network provider at a slightly higher cost.
Special types of health coverage in Florida
When it comes to disease-specific Insurance, insurance policy is named as a special type of health coverage. This type of policy is specially designed for diseases like cancer. Most of the time, the benefits are limited to per-day amounts or to a one-time payment. It should be noticed that these benefits are intended only to supplement but not to replace the usual kind of medical coverage.
High Deductible Health Plans (HDHPs)-these health plans are offered to the residents of Florida where they will need to pay higher deductible but a lower monthly premium.
Health Savings Accounts (HSAs) offer consumers a way to save for health care costs. These are like saving accounts that are portable and can be used to withdraw money whenever needed for health care.
Quality and Value of health coverage in Florida
It is important to know the quality and value of health policy. How to do it? Below listed points should help in deciding this:
The health plan should stress on preventive care rather than curative
The health plan should not need referrals to see specialists
The health plan should have lower premium for basic coverage
The health plan should offer coverage for a wide range of conditions
The health plan should not make me change doctors too often
