ReCuRsiON

Understand More About Health Insurance Plan

There are lots of different kinds of health insurance plans that cover medical services and prescription medicines, plans that cover dental expenses, disability insurance that replaces income lost due to extended illness or injury, long-term care, and so on.Health insurance plans come in two flavors: “Fee-for-Service” or “Managed Care”. Both types of insurance cover major medical, surgical and hospital expenses, and are often referred to as “major medical plans”. Fee-for-service plans pay the medical service provider a fee for each service provided to a patient, and that patient can usually go see whatever health care provider they wish. Managed care plans, on the other hand, pre-pay contracted providers for each member’s coverage in advance. Members are offered a financial incentive to use providers who belong to the plan.

Carefully review plan descriptions, and take your time to understand the coverage of any plan you’re currently under - or considering purchasing. It’s important, and worth your time.