Health Insurance Quotes in Encinal, TX
Comparing Health Insurance Plans in Encinal, TX
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 Encinal, TX, 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 Encinal, TX. Let us compare policy types and rates for you so you can take your healthcare into your own hands.
Comparing Health Insurance Coverage in Encinal, TX
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 Encinal, TX 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 Encinal, TX as well as when you are at home.
Types of Health Insurance Plans in Encinal, TX
Many types of insurance plans are currently available in Encinal, TX. However, they vary based on convenience and flexibility. Among the most popular plans are PPO, HMO, POS, HRA, MSA, HSA and FSA.
A Health Maintenance Organization, also called an HMO, is a network that requires the customer to choose a primary doctor who acts as gatekeeper. When the customer needs to see another doctor or any type of specialist, that customer must go through the primary care doctor first. The primary care doctor must assess the patient and determine if he or she needs to see a specialist. If so, the primary care doctor makes the referral to the specialist. A benefit of HMOs is that they are more affordable in that they require low monthly premiums, no deductibles and out-of-pocket expenses are reasonably priced. One drawback is that the patient is generally only seen by a small network of doctors, and this is because many healthcare facilities do not accept HMO plans.
Another popular health insurance plan in Encinal, TX is the Preferred Provider Organization, also called a PPO. Unlike HMO plans, PPOs generally have a large network of participating providers. The insured person may choose whichever in-network doctor they desire, and specialists can be seen with no referral requirement. Choosing an in-network provider rewards the insured by giving them more coverage to see the in-network doctor. However, going out of network is not a complete loss to the customer, as PPO plans also offer partial assistance for expenses paid to out of network healthcare providers. PPO plans also have drawbacks. While they do limit the yearly out of pocket expenses to the insured, they also require deductibles and co-payments.
A POS, also called a Point of Service plan, utilizes a combination of PPO and HMO services. A POS plan offers a moderately-sized network of physicians as options for primary care doctors. The insured pays no deductibles and pays low co-payments, but only if the insured stays in network. However, the insured must pay a much higher price for co-payments and deductibles whenever treated by an out of network doctor.
In addition to the above options, consumers in Encinal, TX, also have the option of purchasing a less traditional insurance plan, such as a Health Reimbursement Account (HRA), a Health Flexible Spending Account (FSA), a Health Savings Account (HSA) or a Medical Savings Account (MSA). These four options all require the insured or the insured's employer to set money aside for medical expenses in a tax-exempt savings account. The money is then used to pay for doctors, surgical procedures, prescriptions and other medical expenses. One benefit these plans all have in common is the flexible of how they can be used. Some of the plans even permit the insured to roll the money over and use it the following year.
A person's employment status is a huge factor in determining the type of health coverage offered. Large companies can typically offer a group plan, which is less expensive than a single health insurance plan. However employees are not bound by law to enroll in a group plan.
Unemployed and self-employed people in Encinal, TX may choose to buy an individual or private plan. Unemployed senior citizens can get Medicare from the federal government, which provides financial assistance. Some people qualify for Medicaid if they have a very low income. Medicaid is a type of government assistance designed to benefit the poor.
Breaking Down Health Insurance Costs in Encinal, TX
There are several potential costs with health insurance plans in Encinal, TX. 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 Encinal, TX 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 Encinal, TX 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 Encinal, TX 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 Encinal, TX
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 Encinal, TX. 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.