Do
You Need Health Insurance?
The need for health insurance is as unique as the individual. The first
step in identifying the type of plan that is right for you is to determine
your needs. It is important to educate yourself on how health insurance
works and how to choose health coverage that is best for you and your
family. All health insurance plans are subject to state legislation
and will vary by state. Health care and health insurance are changing
rapidly. State and federal regulations can dramatically affect health
plans and how you receive care. Both insurance companies and employers
are investigating new ways to provide health insurance coverage. An
overview of the available health insurance choices are listed below.
It includes a shopping list that will help you compare health insurance
plans. It includes resources to guide you to more detailed sources of
information. Health insurance provides financial protection against
unexpected costs. Without it, an accident or major illness could put
you in debt for years.
Most employers provide health coverage, either on a self-insured basis
or through an insurance company. Self insurance is a type of insurance
arrangement in which large employers pay for medical claims from their
own funds rather than contracting with an insurance company for coverage.
The MTNA does not offer any type of group health insurance coverage
to it’s members.
How To Identify
Your Needs
A plan that is
good for a single individual may not be the best choice for a family.
If both you and your spouse can get group health coverage through your
employer, find out how to get the best coverage least expensively. You
may find that individual coverage for two individuals is less expensive
than family coverage.
Determine what is more important to you: the freedom to choose any physician
or health care provider, or the opportunity to save money? Managed care
plans will usually be the least expensive option, but they limit your
choice of providers.
You may need specialized health insurance, such as a plan to supplement
Medicare or a plan that pays for long-term care services.
Shopping List For
Health Insurance
Shop carefully,
because premiums and benefits can vary widely.
• If you and family members to be covered are in generally good
health, lower your premium — the amount you pay periodically for
health insurance — by taking a higher deductible, such as 0. A
deductible is the amount of money, or value of services (such as one
physician visit), the insured individual must pay before the health
plan begins to pay for covered services.
• Choose a guaranteed renewable policy; the company can raise
your premiums but cannot cancel the policy as long as you pay the premium.
• Make sure the plan covers major medical and hospitalization,
which can cost thousands of dollars.
• Verify that there is a “free look” clause. With
most companies you have at least 10 days to examine the plan after you
receive it. If you are dissatisfied, you can return it for a premium
refund.
• Check policy exclusions carefully. You may be able to save by
buying a policy that excludes many pre-existing conditions, although
you will probably be required to have a physical examination. Be sure
the policy will cover you if you develop one of those conditions later.
Comprehensive health insurance:
• Sometimes called "Comprehensive Major Medical." A
form of health insurance that combines the coverage of Major Medical
and Basic Medical Expense contracts into one broad contract that provides
coverage for almost all types of medical expense with few internal limits,
usually subject to a small deductible for some or all expenses and to
a percentage participation clause (sometimes called "co-insurance")
applicable to all or some of the covered expenses.
The Individual Insurance plans offered are based on the demographics
of the member such as the geographical residence, age, and medical history.
Golden Rule is a national recognized insurance carrier that provides
individual health insurance for the MTNA members. Please click here
if you are interested in obtaining a quote.
click
here for more information.
