Health Insurance Quotes in Oregon
Comparing Health Insurance Plans in Oregon
Health insurance is a contract between an insurance company and an individual that covers a percentage of the individual's health expenses, including medical, some dental, surgeries, and prescriptions. Forms of health insurance differ according to the policy type. Either the insurance company will cover the costs directly or the insured individual will pay out-of-pocket to the care provider and receive reimbursement at a later time. Choosing health insurance is a big decision, but MyRatePlan does the hard part for you by comparing rates and coverage in Oregon, and even providing you with a free quote.
Health insurance is often provided by employers or private insurance companies. Disabled and elderly citizens are covered by Medicare and low-income individuals by Medicaid. Both Medicare and Medicaid are public, government-funded programs established to provide healthcare to those who need it for a more affordable price than offered by private insurance.
MyRatePlan can help to find the perfect coverage for you in Oregon. Let us compare policy types and rates for you so you can take your healthcare into your own hands.
Comparing Health Insurance Coverage in Oregon
Just as the source of insurance varies, so do your coverage options. Some plans are inexpensive, but cover only major health problems or hospitalization. Other plans in Oregon cost more money, but have lower deductibles and cover a much wider variety of healthcare services.
Since there is no way to know what the future holds for your health, using your past experience is the best way to determine how much health coverage you'll need. If you're fairly healthy and visit your doctor sparingly, it's probably safe for you to go with a low cost plan offering minimal coverage. These types of plans are known as catastrophe plans since they cover you only in the event of a serious health problem or emergency care.
If, however, you have a chronic health condition such as diabetes or visit the doctor often, you'll want a plan that provides more coverage. These plans cost more upfront, but save you money over the long term by covering basic doctor's visits, testing services and preventive screenings. These plans may also cover you while you are traveling outside of Oregon as well as when you are at home.
Types of Health Insurance Policies in Oregon
As has been stressed already, there are many different types of medical insurance policies that need to be compared in order to choose the best fit. All such policies do have the tendency to provide similar amounts of coverage. The biggest difference to be analyzed is the wide range of flexibility and accessibility of the policies available in Oregon.
HMO (Health Maintenance Organization) policies come with the mandate that the insured party has a primary care provider. A primary care provider is the physician who is in charge of the patient's overall healthcare. For example, if a specialist is needed, the patient must first go his or her primary care provider to get a referral if the primary care provider agrees that such a specialist is good for the patient. These plans tend to have lower premiums than other medical insurance plans, but there is also quite often a limitation regarding the network of doctors that HMO insured patients can see. However, HMOs never have deductibles, and the out-of-pocket costs tend to be significantly less than those of other health insurance plans in Oregon.
PPO (Preferred Provider Organization) plans tend to have exceedingly large networks of doctors available to patients. The insurance holder chooses any one of those doctors in the network as his or her primary care provider. Specialists can also be found within this network, meaning that no referral is required as is the case with HMO plans. As long as the patient chooses doctors and specialists within the network, the coverage will be very inclusive. On the other hand, coverage may be more limited, although not usually withheld, if it is necessary to seek medical care outside of the network of providers. Most PPO policies include deductibles, copayments, and annual limits to out-of-pocket spending.
POS (Point of Service) policies in Oregon combine the benefits of both HMO and PPO plans. The network of doctors to choose from is sizable but not to the degree of PPOs. There are no deductibles, and copayments remain low so long as the care provider is within the network. On the other hand, deductibles and copayments are quite high if the insurance holder seeks care from a provider outside the network.
These first three types of medical insurance policies are the most common types of health insurance plans found in Oregon. There are also some newer approaches to medical insurance that are now available and worth looking into. Among these are the HSA (Health Savings Account), the HRA (Health Reimbursement Arrangement), the FSA (Flexible Spending Account), and the MSA (Medical Savings Account). These are all accounts that rely on funds that the insured individual or employer has reserved in a tax-exempt savings account. All medical expenses, then, are taken out of such an account. It can be used for medical appointments, surgeries, prescription medications, and other treatments occasionally including over the counter medicines. Such plans tend to be highly flexible with regard to ways in which the money can be used. Some even allow for funds to roll over into the next year.
Breaking Down Health Insurance Costs in Oregon
There are several potential costs with health insurance plans in Oregon. The first is the premium, which is how much the individual pays every month for his coverage. It's essentially a monthly service fee, as the individual never gets this money back.
The deductible is the amount that the individual needs to pay for medical expenses first each year before the insurance provider starts paying its portion. There are also out-of-pocket costs, which are different than deductibles in that out-of-pocket costs are the amount an individual needs to spend each time before the provider pays 100-percent of the bill.
With most plans, the deductible and out-of-pocket costs reset at the beginning of the year, and expenses from the previous year don't factor in moving forward. For example, if an individual's plan has a $5,000 deductible and he paid $3,000 out of pocket one year, his out-of-pocket expenses will go back to $0 at the start of the year. There are plans in Oregon that allow policyholders to roll over what they paid for their deductibles to the first quarter of a new year.
The co-pay is the amount the individual must pay each time he visits a healthcare facility. If his primary care physician co-pay is $20, he'll pay that every time he visits his doctor. His insurance provider covers the rest of the costs from the visit, provided any services he receives are covered on his plan. Co-pays don't count towards a plan's deductible.
Some insurance plans have maximum lifetime benefits, which are the maximum amount that the provider will pay for the individual's healthcare. If the provider reaches this maximum, it won't pay any further for the policyholder's claims.
A major factor in health insurance plan options in Oregon is the individual's employment status. Large companies usually have group health insurance plans with lower rates than employees would get purchasing individual healthcare. However, the law doesn't require employees to participate in these plans.
Individuals who are self-employed, such as freelancers and business owners, and those who are unemployed can purchase private, individual insurance coverage. Senior citizens are eligible for financial assistance from the government by getting Medicare. Those who are in low-income brackets can also apply for government assistance through the Medicaid program.
If an individual has a specific doctor he likes, he needs to check the health insurance policies in Oregon that will allow him to keep seeing that doctor. It's also important that he informs his doctor if his plan changes, and that he contacts his provider if he has specific coverage questions.
Get a Quote for Health Insurance in Oregon
One of the best things a person can do for themselves or their family is to make certain they have access to a health insurance plan in Oregon. Life brings on so many ups and downs in regards to health, and these items can affect not only the plan options available but what rates are being applied. Looking forward to all of the aspects of life that can make certain that the right plan is chosen. For example, if a woman plans on having a baby in the future, she needs to make certain that her plan offers maternity coverage and that a new family member can be added to the plan. It is important to note that eliminating coverage to save up-front costs is not the wisest idea in case disaster does strike. Here at MyRatePlan, we want to help people find the right plan for them, so enter your ZIP code for a free quote today.