by Samueljen » Wed Jun 06, 2018 09:22 pm
The most commonly known are the full Affordable Care Act compliant plans which most Employers who offer insurance benefits participate in. These plans are also available for purchase on the open marketplace for individuals. These plans cover everything, pre existing conditions, Maternity, mental health, etc. They are more expensive offered as an individual plan but the Government may subsidize the cost depending on your annual income.
The second type of insurance is Private Marketplace insurance, in the form of a Short Term Medical plan. These plans are typically 3 month plans, PPO networks with variable deductible amounts. They are meant as a short term solution to provide health insurance, but they do not cover pre-existing conditions.
The third type of insurance is also private marketplace, but is a fixed benefit plan. This type of plan has no deductible to meet, and will pay a fixed benefit rate per service. For example, a plan might offer $100 for a doctor visit 3 times a year. The real benefit of this kind of plan is you still take advantage of the network discount by the carrier and if you are a person who doesn't see the doctor very often, this might appeal to you to have some coverage in case of a hospitalization, surgery, or accident. These plans vary with the benefits they offer, so when looking at one, be sure it will cover your needs.
If you have questions or would like to learn more about this, please send me a private message with your contact info and I'll be happy to educate you further.
The second type of insurance is Private Marketplace insurance, in the form of a Short Term Medical plan. These plans are typically 3 month plans, PPO networks with variable deductible amounts. They are meant as a short term solution to provide health insurance, but they do not cover pre-existing conditions.
The third type of insurance is also private marketplace, but is a fixed benefit plan. This type of plan has no deductible to meet, and will pay a fixed benefit rate per service. For example, a plan might offer $100 for a doctor visit 3 times a year. The real benefit of this kind of plan is you still take advantage of the network discount by the carrier and if you are a person who doesn't see the doctor very often, this might appeal to you to have some coverage in case of a hospitalization, surgery, or accident. These plans vary with the benefits they offer, so when looking at one, be sure it will cover your needs.
If you have questions or would like to learn more about this, please send me a private message with your contact info and I'll be happy to educate you further.
Posted: Sat Sep 15, 2018 11:46 am Post Subject:
thank you for clarifying this in simple words. I was confused between private marketplace insurance and private marketplace. It makes sense to me now.
Posted: Wed Sep 19, 2018 06:31 am Post Subject:
You have explained it really well.
I myself work at an independent insurance agency- Insurance Professionals of Arizona and we provide all the above types of health insurance products.
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