If you’re on a fixed income and are interested in signing up for medical insurance, simply continue reading to learn about the different types of medical insurance which are available. As a bonus, you’ll also discover which type of medical insurance is best suited to your needs.
The number 1 type of medical insurance for individuals on a fixed income:
A PPO (Preferred Provider Organization) insurance plan, is ideally suited to individuals on a fixed income. If you sign up to a PPO medical plan, you’ll pay lower fees, if you choose to use medical providers who have been approved by your insurance company.
As an example, if you need to undergo a dental procedure and opt to visit a dental clinic which is listed as an approved medical provider, the fee which you’ll be charged will be minimal. If you’re on a fixed income and don’t have a lot of extra cash to spend on unexpected medical bills, it’s well worth signing up to a PPO insurance plan.
If you’re concerned that you’ll be limited when it comes to health providers, there’s so need to worry as whilst you receive impressive discounts, should you choose to visit a listed healthcare provider, you won’t require a referral to use doctors, hospitals and clinics which are not listed as a partner.
Alternative types of medical insurance, to consider:
- POS (Point of Service) medical insurance
Whilst a POS medical plan may be cheaper than a PPO medical plan, if you choose to visit a medical provider that isn’t listed as an approved medical provider, you’ll have to receive a referral from your primary doctor. In the event, that you need to see a specialist as a clinic, that isn’t listed under your insurance plan, you’ll be required to pay the full fee on your own.
However, no matter which type of medical insurance plan you sign up for, if you’re injured because of an accident, it’s also well worth contacting a personal injury case lawyer. As you may well be able to claim compensation, for the injury which you’ve sustained.
- HMO (Health Maintenance Organization) medical insurance
If you sign up for medical insurance with a HMO, you’ll only be covered for care from a short list of approved doctors, who work for the HMO, that you’ve chosen. Worse yet, in most cases you’ll only be covered for care by local hospitals, doctors and clinics. So, you’re out of luck if you need to see a specialist that is located out of state.
- EPO (Emergency Provider Organization)
If you opt for an EPO medical plan, you’ll be limited to seeing medical practitioners who are listed in your medical plan. However, in the event of an emergency, you will be able to visit your nearest hospital, without incurring extra fees.
So, if you’re on a fixed income and want to increase your chances of being covered by a health care plan, you’re best off signing up to a Preferred Provider Insurance plan. As whilst POS, HMO and EPO health plans often boast cheaper premiums, there is a higher risk that you’ll have to pay exorbitant fees, should you wish to visit a specialist who isn’t listed as one of your approved primary health care providers.