Private medical insurance

Most Americans get private medical insurance through their jobs or are covered because a family member has insurance at work. This is called group insurance. Group insurance is generally the least expensive kind. In many cases, the employer pays part or all of the private medical insurance cost. Some employers offer only one health insurance plan. Some offer a choice of plans: a fee-for-service plan, a health maintenance organization (HMO), or a preferred provider organization (PPO).

Private medical insurance information

Choosing the right private medical insurance is like making any other major purchase: You choose the plan that meets both your needs and your budget. For most people, this means deciding which plan is worth the cost. For example, private medical plans that allow you the most choices in doctors and hospitals also tend to cost more than private medical plans that limit choices. Plans that help to manage the care you receive usually cost you less, but you give up some freedom of choice. Cost isn't the only thing to consider when buying health insurance. You also need to consider what benefits are covered. You need to compare plans carefully for both cost and coverage.

Private medical insurance

You may be able to get group health coverage either indemnity or managed care through your job or the job of a family member. Many employers allow you to join or change health plans once a year during open enrollment. But once you choose a plan, you must keep it for a year. Discuss choices and limits with your employee benefits office.