HCA 280 – The Healthcare Industry
January 22, 2012
Southwestern College Professional Studies
Purchasing Health Insurance
There are so many choices of what health insurance plan to pick according to a single person or a family. There are two types of health insurance policies – individual health insurance or group health insurance. A person(s) have to consider factors when it comes to deciding what health insurance plan suits them the best.
Budget is one of the main factors to consider when choosing a health insurance plan. Some financial situations to consider is the number of times to a doctor, the monthly premium for the insurance, if the deductible will be met, caring for dependents, any pre-existing conditions, use of dental and vision plans, chronic illness with monthly treatments, and the cost of prescription drugs (Jeffries, 2012). Some insurance plans do not cover emergency costs, x-rays, or laboratory. Without the coverage of these medical costs, that would lead to financial difficulty.
Need is another factor when choosing a health insurance. A young person who is in his or her early 20’s to 30’s might not have to purchase health insurance because they are healthy or it is cheaper to pay out of pocket for services. A family would consider health insurance because there are more people who need to manage their health together while being able to afford health services. There is the group of people who are entering retirement who are getting older and need to take care of their health.
Having health care coverage helps communities have access to health service to have better health outcomes. It helps in reducing administrative costs with people being healthier (Bernstein, Chollet, & Peterson, 2010). There would be affordable cost sharing when it comes to deductibles. With insurance coverage for health services and prescriptions, people are healthier and at a lower risk for...