What Is Health Insurance?
Health insurance is a way of paying for your medical bills and health care costs. Most people can’t pay for all their health care out-of-pocket, and just put it on a debit or credit card.
Jubilee Health insurance can make it easier to pay your health care bills, and help you get the care you need.
Types of Health Insurance
When do I need Jubilee health insurance?
If you are not covered as a dependent under someone else’s health plan, such as a spouse/partner or parent, it’s a good idea to have health insurance. A health insurance plan can help you manage your health care needs, as well as costs.
The cost of health care without coverage can be substantial.
What are the different types of health insurance included in jubilee?
The different types of health insurance, include:
- Health maintenance organizations (HMOs)
- Exclusive provider organizations (EPOs)
- Point-of-service (POS) plans
- Preferred provider organizations (PPOs)
What are health maintenance organizations (HMOs)?
HMOs, give you a local network of participating doctors, hospitals, and other health care professionals and facilities that you are required to choose from. These types of health insurance plans also require you to choose a primary care provider (PCP) from the network. Your PCP is your home base for medical care. They get to know you and help coordinate all your care. They will also need to provide you with a referral to see in-network specialists. The costs for an HMO plan——are typically lower than other types of health plans.
What are exclusive provider organizations (EPOs)?
An EPO offers you a network of participating providers to choose from. Most EPO plans do not include coverage for an emergency. Depending on the plan, you may or may not be required to choose a primary care provider (PCP).
What is a point of service plan (POS)?
Point of service plans combine features of HMO and PPO plans. The provider network is typically smaller than a PPO plan and the costs for in-network care are typically lower, like an HMO. POS plans also require you to choose a primary care provider (PCP) from within the plan’s network of doctors and other primary care professionals. Your PCP is your home base for care and advice. They get to know you and your health needs and can help coordinate all your care.
What are preferred provider organizations (PPOs)?
PPOs typically offer you a large network of participating providers so you have a lot of doctors, hospitals, and other health care professionals and facilities to choose from. You may also choose to see providers from outside of the plan’s network, but you will pay more out-of-pocket.
What types of health insurance are best for me?
Start by understanding your specific health care needs:
- If you’re in good health and don’t visit a doctor often, health insurance plans with higher deductibles typically have lower insurance premiums and could help save you money.
- If you require or expect more than just preventive care, consider plans that have lower deductibles and coinsurance, for more predictable costs.
- Chronic conditions could require regular medication and more frequent doctor appointments, even costly hospital stays and/or surgeries so you should consider a good health insurance plan.
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Why Should I Get Health Insurance?
Broadly, there are two reasons to have health insurance:
- Health insurance supports you if you get sick
- Health insurance helps you avoid getting sick to begin with
Let’s look at each of these reasons in more detail:
Health Insurance as a Safety Net
It’s important to have health insurance as a safety net. If you unexpectedly get sick or injured, health insurance is there to help cover costs that you likely can’t afford to pay on your own.
With jubilee health insurance, you’re not facing any costs as an individual; there’s an insurance plan helping you cover the costs, and navigate the confusion of medical billing.
Health insurance makes it easier for you to keep away from getting sick in the first place.
Having health insurance makes it easier for you to access – that is, find and pay for – routine and preventive health care. This includes:
- Vaccinations (flu shots, MMR, etc.)
- Blood tests and lab work
- Scans and screenings
These all play a role in keeping you healthy and diagnosing any illness you might have as soon as possible.