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How To Get The Best Health Insurance Coverage

By Jason Markum

These days the health insurance debate is raging in the halls of Congress. It is becoming harder and harder for ordinary Americans to get health coverage of any kind at an affordable rate, or any rate at all. Health care costs are skyrocketing, and insurance premiums are shooting through the roof for almost everybody.

Today I want to talk about the three major types of health care coverage to help you decide the best course in choosing the right insurance for your specific needs.

Like I said, there are three main types or coverages of health insurance. Realize also that you’re not just looking at health care costs here, but also at loss of income in case you’re incapacitated for a long period of time.

The first main type of health care coverage is basic hospital coverage that includes surgical as well as regular medical expenses. This pays for a good part of your hospital expenses as well as some nonsurgical doctor fees. This kind of coverage usually has a low deductible and will cover most of your routine hospital expenses. This coverage usually has a cap of around $30,000 or so. When you have reached that limit though, you’re usually on your own.

The second main type of health care coverage is what I call major medical coverage. This is catastrophic insurance coverage and not meant to cover every little doctor visit when you get the flu or stub your toe. This isn’t even supposed to cover minor surgeries that you may need from time to time.

The purpose of this coverage is to cover massive major surgeries from a life-threatening illness or major accident. Because of this, the deductibles for these sorts of policies are usually quite a bit higher; sometimes as high as $2,500 or even $5,000. These kinds of policies usually have caps of around $500,000 to $1 million depending on the policy; which is enough to cover all major medical bills.

The third and final type of main health care coverage is disability insurance. The purpose of disability insurance is to cover you for loss of pay, or loss of income as it were. Most people don’t realize that if you have a major life-threatening illness or major medical accident of some sort, you’re not going to be in any shape to work for quite some time and therefore you won’t have any money coming in! Disability insurance covers that possibility. It becomes especially important if you have a long-term disability.

So there you have it; those are the three main types of health care coverage that you can expect to find today. Of course I don’t know how the health care debate in Congress is going to play out in the future, so these options may change in the near future; so keep an eye out for late breaking news on this front.

Whether Congress passes major healthcare reform or not, you should make it a special point to learn as much about these three main types of health care coverages as soon as possible. Talk to your insurance agent for more specifics.

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