Four Basic Type of Health Insurance - Flexible And Affordable Coverage

Many people might not be aware of diverse benefits of insuring their health. It is always said that health is wealth and is one's most prized possession, but when it comes to health most of the people are not conscious for it. Due to the busy and fast-paced lifestyle, most of us don't have much time to think about the health. Things are very unpredictable as an apparently healthy person today might need some medical emergency tomorrow.

Health insurance is quite imperative these days as it helps an individual in financial breakdown caused by medical treatment costs. There are several benefits of having an affordable health insurance plan which varies from state to state, but the major benefits include boarding expenses, hospital room rent, nursing expenses, specialist fees, doctor's fees, surgeon's fees, diagnostic services, dental services, pregnancy related services, anesthetists fees, etc. Some health insurance plan also cover the cost of medicines and drugs, cost of blood and surgical appliances.

There are various companies which provide several types of affordable health insurance plans, but choosing the right one is quite essential. You should always choose the plan which suits best to your preferences, resources and needs. Before going with a plan, it is important to be familiar with every type of health insurance plan so that you can decide your needs and budget accordingly. Here is a brief introduction of four basic type of health insurance plans.

Individual or Family Health Insurance

One of the most common types of health insurance is individual or family health insurance. It is designed to cover you and your family against illness or injury. This is the best option to make life easier of complete family. As more than one person is covered in family health insurance so the cost will be definitely high than the individual plan. This plan is further categorized in different family health insurance plans so it is advisable to choose the one which suits best to your requirements.

Group Health Insurance

This type of health insurance is quite similar to the above, but the only difference is that group health insurance is often purchased by a company or an organization for their workers. This type of health insurance can be purchased at a greatly reduced cost compared to others.

Short Term

As the name suggests short term health insurance plan provides inexpensive and flexible coverage against all injuries and illnesses for short duration of time. This plan is generally applicable for 2 to 3 months. This plan is generally purchased by students who have freshly graduated or the employees who are waiting for their next job.

Student Health Insurance

This type of health insurance is also self explanatory. It is mainly for the students who need their own protection and living outside from their house for study or job purpose.  

These plans are not for everyone in every situation as there are of course other health insurance plans than what are listed here, but the above are some common types that you should get familiar with.