Medical Insurance can provide financial protection for unexpected medical events. The goal of insurance is to transfer risk from you and your family to a larger pool with the insurance company. There are several different types of medical insurance plans to choose from. Not all of them are the best fit for everyone. It’s important you speak with one of our licensed medical insurance experts to find out what the best medical insurance plan is for you and your family. In addition to unexpected medical situations, some medical insurance plans can also provide coverage for routine care, such as preventative and wellness services.
Marketplace Medical Insurance
Marketplace medical insurance plans provide coverage for pre-existing conditions, pregnancy, mental health, and offer no-charge preventative care. Marketplace plans tend to be the most comprehensive medical insurance plans, however that comes at a higher price and often a limited network of doctors. Some individuals and families might qualify for a lower price based on household income.
Short Term Medical Insurance
Short Term Medical plans can offer coverage for 1 to 12 months at a time. Some plans can even be stacked upfront for a total of 3 years of coverage without needing to renew it each year. Despite the name, Short Term Medical plans are often used on a long-term basis because of their affordability and flexibility. Most Short Term Medical plans utilize larger nation-wide PPO or EPO networks which provide access to more doctors and medical facilities across the country.
Fixed Indemnity Limited Medical Insurance
Fixed Indemnity Limited Medical insurance plans have a unique structure with no deductible, flexible in- and out-of-network benefits, and tend to be a lower price than traditional-structured medical plans. These medical plans provide coverages on a “first dollar” basis which means the insurance company pays the first portion of the cost up to the limits of the policy. If there is any excess charges, then you are responsible for the remainder. As a stand-alone medical plan, they can be a lower cost option for health insurance; however they offer more limitations that most other medical plans. Fixed Indemnity Limited Medical insurance plans can also be paired with another medical plan to increase your overall coverage.