Major medical insurance plans

What happens if you or your family member leaves the job? You will lose your employer-supported group coverage and may opt for major medical insurance plans. It may be possible to keep the same major medical policy, but you will have to pay for it yourself. This will certainly cost you more than group coverage for the same, or less, protection. A Federal law makes it possible for most people to continue their group health coverage for a period of time after they leave their employer. Called COBRA (for the Consolidated Omnibus Budget Reconciliation Act of 1985), the law requires that if you work for a business of 20 or more employees and leave your job or are laid off, you can continue to get health insurance coverage for at least 18 months. You will be charged a higher premium than when you were working.

Major medical insurance plans information

The differences among fee-for-service plans, major medical insurance plans, HMOs, and PPOs are not as clear cut as they once were. Fee for service plans have adopted some activities used by HMOs and PPOs to control the use of medical services. And major medical insurance plans, HMOs and PPOs are offering more freedom to choose doctors, the way fee-for-service plans do. By studying your major medical insurance plans options carefully, you will be able to pick the one that provides you with the coverage you need, no matter what it is called.

Major medical insurance plans

Because HMOs receive a fixed fee for your covered medical care, it is in their interest to make sure you get basic health care for problems before they become serious. HMOs typically provide preventive care, such as office visits, immunizations, well-baby checkups, mammograms, and physicals. The range of services covered vary in HMOs, so it is important to compare available plans. Some services, such as outpatient mental health care, often are provided only on a limited basis.