Health Insurance Quotes

The Importance of Health Insurance

If you’ve decided to look into quotes on health insurance, you’ve made a wise choice. Aside from the obvious monetary benefits, a good health insurance policy can enhance your life in a number of ways. Here are just a few of the reasons health insurance is important:

• People with health insurance have longer lifespans
• Health insurance helps protect your assets in the event of a serious illness or accident
• Get the prescription drugs you need at affordable prices
• Those with health insurance enjoy a higher quality of life
• Receive valuable preventive care that could ward off illness
• Pay for doctor visits, hospital stays, etc. without draining your finances

Types of Health Insurance Policies

Our insurance partners can offer you quotes on a wide selection of health insurance policies. You will find a brief explanation of the most popular types of plans below:

• Indemnity - An indemnity plan might also be referred to as a fee-for-service policy. This is the most traditional type of health insurance and allows you the most freedom of choice with your healthcare. On this type of plan, your insurer will reimburse you for a certain percentage of your medical expenses. For instance, your reimbursement rate might be 80%, leaving you responsible for the remaining 20%. There are usually no restrictions on the providers you select with an indemnity policy.
• HMO - An HMO plan gives you the least amount of flexibility in your healthcare decisions but is generally the cheapest type of plan available. Under an HMO plan, your care will only be covered if you visit in-network providers that contract with your insurance company. If you stay within the network for your healthcare, you will have minimal or no co-pays.
• PPO - A PPO plan allows slightly more freedom of choice than an HMO. With a PPO, you do have financial incentives stay within the insurance company’s network of providers, but you are also free to visit out-of-network providers as well. If you choose to go out of the network, you will be responsible for a larger portion of your medical expenses than if you had stayed in network.
• POS - A POS plan, or point-of-service plan, is a hybrid of an HMO and a PPO plan. With this type of plan, you have to select a primary car physician within the network. You may receive care outside of the network, but you will be responsible for almost all of the costs in that event. An exception may apply if your primary care physician has referred you to an out-of-network provider.