Types of Health Insurance in US
There are actually 7 types of Health Insurance in which an applicant can apply for in US. But usually, it depends on the status or occupation of the applicant. The types of Health Insurance are as follows:
1. Group Health Plans – This kind of insurance provides health care coverage for employers, student organizations, professional associations, religious groups and the like.
2. Individual Plans – This kind of plan is sold directly to individuals that avail of the insurance plan by applying personally to have one.
3. Fee-For-Free Insurance Plans – This is actually a way of some companies to compensate with the access of their employees to health care service. This plans offer reimbursements or refunds for their paid bills on hospitals from their company.
4. Managed Care Plans – These are sold to either group or individual clients. This insurance is manage by an insurance company wherein it has 2 subdivisions:
a. Health Maintenance Organization (HMO) – This is a prepaid plan in which people who avails this kind of insurance will pay a premium every month.
b. Preferred Provider Organization- This is a combo of fee-for-free insurance plans plus health maintenance organization plans
5. Government Health Plans – There are actually two types of Health insurance plans US offers:
a. Medicare – The coverage of this insurance is hospital insurance where it aides in paying for hospital stays and other bills consumed during hospitalization.
b. Medicaid – is designed to provide help with the beneficiaries of the person who applied for it. It covers lab test, consultation fee and x-rays
•TRICARE – health insurance plans for military
6. Supplemental Insurance – this covers the expenses that an individual failed to pay using the regular insurance
7. Worker’s Compensation – this is a kind of insurance in which the basis is if the injury is job related this insurance will cover it.