Contrary to popular belief, inexpensive medical and dental insurance is not a thing of the past. You can get it now, if you know where to look and what to get.
Comprehensive Medical Insurance Plans
Comprehensive insurance plans cover your ongoing health care needs and are the most expensive plans. They include:
* Indemnity Plans. These are the traditional insurance plans that cover your doctor visits, hospital fees, and prescription drugs. These plans let you use your own doctor and hospital, and are the most expensive of the comprehensive insurance plans.
* Managed health care plans (HMOs, PPOs, POSs). These plans assign you to a health care group – doctors, hospitals, and specialists – that you use for your health care needs. Some of these plans let you use your own doctor and hospital for an additional fee. They are the least expensive comprehensive insurance plans.
* Medical saving accounts. These plans combine a tax-sheltered savings account with a high-deductible health insurance plan. The savings account is used to pay for minor medical expenses and the insurance pays for more expensive medical expenses.
Specialized Health Insurance Plans
Specialized health insurance plans cover only specific health care needs. They are the least expensive insurance plans. They include:
* Major medical insurance plans. These plans are high deductible health insurance plans that provide coverage for major illnesses such as heart attacks and cancer.
* Hospital and surgery plans. These plans provide coverage for hospital stays and surgical services only. They cover doctor fees, room and board, lab tests, and X-rays.
* Hospital confinement plans. These plans pay a set amount for each day you spend in the hospital.
* Short term plans. These are comprehensive health insurance plans with coverage that lasts for a specified amount of time.
* Accident only plans. These plans pay for doctor visits and hospital fees when you have an accident. They do not cover illnesses or diseases.
Dental Insurance Plans
Standard dental plans pay for dental services such as teeth cleanings, fillings, extractions, crowns, and X-rays. Indemnity dental plans allow you to see the dentist of your choice, and managed dental plans assign you to a group of dentists.
Dental plans are less expensive when they are part of a health insurance plan. You also have the added benefit of having only one insurance bill and one company to deal with.