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Important Health Care Products Terms
The health care market offers products for people who doesn't have extra insurance or does not have coverage through their job. Many types of plans and services are available, depending on your situation. Here are some important terms you might come across:
Supplemental Insurance - An additional insurance plan designed to fill in the gaps for your regular insurance. The funds can be used to cover out of pocket and everyday living expenses that you may incur. You can purchase supplemental health insurance for dental, vision, accident, disability and other purposes.
Short-Term Insurance - A health coverage plan that lasts for a temporary period, usually less than a year. Those who encounter a gap in their normal coverage are good candidates for this kind of coverage.
Small Group Health Insurance - A health care plan that is designed for a small business, such as 50 or less employees and their dependents.
Group Voluntary Insurance - Health benefits provided by employers that is paid by employees through payroll deduction.
Health Savings Account - A savings account that is tax deductible. Those enrolled in a high deductible insurance plan are eligible for the benefit, which allows unspent funds to roll over into the next year.
Individual Health Plan - An insurance product that covers health services for those who do not have coverage through their employer. Providers will offer coverage for you and other dependents in your home.
Health Care Reform Bill - Legislation passed in the year 2010, which will create a more competitive health insurance market and make coverage more affordable, beginning in 2014.
Getting affordable health care often means finding an insurance plan that gives you the inexpensive dental, vision, maternity, and medical coverage that the individuals in your family need to lead healthy lives. If you work for a company that offers employee health care plans, then you might have a few plans from an HMO or PPO to choose from. If you are an individual who wants to purchase health care or supplemental insurance plans for your family, then you will need to do some online research to help ensure that you get the coverage that you need at an affordable deductible. When you contact the insurance company, ask them if they offer plans to families and individuals. If they do, then you will need to pick a plan that is right for you. Ask them to send you information about the different universal coverage that they offer so that you can decide which insurance plans have affordable rates for your family. You should contact more than one company so that you can make informed comparisons about services and rates. Ask them if it is possible for you to get a group rate that will help you save money through the provider. Ask the companies to give you written price quotes for all of the health care insurance that you and your family might need. This makes it much easier for you to compare their prices and services because you will have all of the information right in front of you.