Medical insurence

What happens if you or your family member leaves the job? You will lose your employer-supported group coverage and may opt for medical insurence. It may be possible to keep the same 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.

Medical insurence information

The differences among fee-for-service plans, medical insurence, 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 medical insurence, HMOs and PPOs are offering more freedom to choose doctors, the way fee-for-service plans do. By studying your medical insurence options carefully, you will be able to pick the one that provides you with the coverage you need, no matter what it is called.

Medical insurence

Indemnity and managed care plans differ in their basic approach. Put broadly, the major differences concern choice of providers, out-of-pocket costs for covered services, and how bills are paid. Usually, indemnity plans offer more choice of doctors (including specialists, such as cardiologists and surgeons), hospitals, and other health care providers than managed care plans. Indemnity plans pay their share of the costs of a service only after they receive a bill.