When someone states that it is “comprehensive” health insurance it means that the insurance company pays a percentage of the charges after your deductible or co pay is met. This includes both physician charges and hospital charges. Comprehensive care is tends to expensive however it can save you thousands of dollars if you have to be hospitalized.

When someone refers to “scheduled” health insurance they are referring to a basic policy. This policy allows for patients to have their basic health care met. Patients are able to go to the doctor on regular basis but have limit coverage for hospital care. Generally schedule health insurance has a cap on the amount it will cover each year.

It is a good idea to have both schedule coverage for your everyday needs and comprehensive for hospital coverage.

Both schedule health care and comprehensive health care are essential to have, especially if you own business. Your premium will vary depending on your age and overall health. However it is very important to budget health care coverage into your expenses. Your health depends on it.

After extensive research Costco decided to contract PacifiCare to offer individual coverage to executive members of Costco. Individual can purchase coverage for their family as well.

There are two different plans available for PacifiCare.

• The Costco Preferred Network Plan 1500/35. This plan has a $1500 deductible for individuals and $3000 deductible for a family.

• The Costco Preferred Network Plan 3000/35. This plan has a $3000 deductible for individuals and $6000 for a family.

With both of the plans there is a $35 co pay for physician visits. The insurance covers both annual visits to the doctor and non routine office visits after the deducible is met. You have the option of seeding a non network provider as well.

Costco also offers a plan with child only coverage. This is perfect for individuals whose employer does not cover family members or grandparents who are caring for a grandchild.

These plans offer prescription drug coverage in addition to physician care. Both plans offer these drugs at a fairly inexpensive price, $20 co pay for generic drugs and $300 deductible then a $35 co pay for brand name.

Costco’s plan offers more options for the self employed and for those whose employer does not offer health care coverage.

Some larger companies offer their employees a choice in what plan they would like. Many times small company’s can not afford to offer their employees the choice of plan.

Whether you choose a HMO, PPO or POS depends greatly on if your doctor of choice is part of their network. If the HMO that is being offered does include your doctor, please remember that the network can change. While your doctor may be on the list this year, next year he or she may not.

With the PPO plan you are not required to pick a primary care physician. You are able to see any doctor that you choose. There is a list of doctors that are in the network and you are strongly encouraged to see someone from that list however it is not required. If you decide to see a physician in the network it will most likely be less expensive. For example your plan my only cover 65% of the cost if you see a physician outside the network compared with covering 95% of the cost if you see a physician in the network. You also do not have to go through the referral process to see a specialist. The largest draw back to the PPO plan is the deductible and many times the higher co pay. HMO’s tend to keep their co pays fairly low however you don’t have the option of seeing the physician of your choice. PPO offer much more options, but those options might come at a higher cost to you.

If you do not know already, generic drugs are much less expensive than their name brand counterparts.  I am sure many of you already new this.  What you may not know is the same company that makes the name brand drugs, usually make the generic version as well.  Other than the package being a bit different and the pills themselves having a different appearance, most of the time you are getting the exact same drug.

When you fill you prescriptions you should always ask for the drug to be filled by the generic version. Most insurance companies require the generic version if it is available.  Generic drugs can mean the difference of paying $20 and paying $200.

You should also check to see if your insurance company offers a meds by mail program.  These are great for a reoccurring prescription.  Often time they are free or offered at a minimal fee.  The best part is your prescription is mail to your house every month.

By checking into the programs that your insurance company offers and always asking for generic drugs, you can save yourself hundreds even thousands of dollars every year.

The most prevalent is the Health Maintenance Organization more commonly referred to as HMO.  HMO’s usually provide a list of physicians that a member can see and have rules and regulations that a patient must follow.  The biggest complaint with HMO’s is the limited services that are offered.

HMO’s tend oversee the patients health very closely.  Typically a patient must first see a primary care physician before they are able to see a specialist.  The Primary Care Physician must refer the patient to specialist before the HMO will cover the cost of the specialist. Most plans allow for woman to pick an OB/GYN as well as a primary care.  Some patients feel that the referral method is a hassle however it is how HMO’s try to keep their premiums and deductibles relatively low. Emergency situations do not require a referral.

There also HMO plans available with “open access” that do not require a Primary Care Physicians referral however they tend to have a higher co-pay and deductible.

In a nutshell health insurance is exactly what the name suggests, it is insurance for your health. Depending on your employer and your insurance plan you will pay a monthly premium for insurance that will cover your doctor, hospital and prescription drug costs.

These premiums can range greatly by plan, your age, your overall health and how many people in your family you want to cover. Usually there is also a mandatory co-pay that you are responsible for each time your visit the doctor or purchase a prescription drug. The co-pay can be anywhere from $5 to $25 and even $50 in some cases.

However, while these prices may seem a little steep, the alternative is to go without health coverage. This decision can result in thousands of dollars in medical bill if you were to get sick or injured.

Health insurance is essential for anyone living in the US that is not cover by another plan. Not only can it save you thousands of dollars but will also offer your family peace of mind.

Group health insurance was the answer.

The company bore the brunt of the cost while employees paid minimal premiums and coughed up necessary, but equally as low co-pays.  Add to that package a prescription drug card and it looks, on the surface, like insurance Utopia.  Not anymore.

According to a report in 2007 by the Kaiser Family Foundation, the cost of employer-sponsored health care rose by 6.1%.  This followed a 7.7% increase the year before and a 9.3% jump in 2005.  Those costs are being passed onto employees.  Employees with families get hit the hardest.

The bright side of buying a private health insurance policy is that if your family is relatively healthy, prices on the open market are relatively competitive.  The other perk is that you only have to buy what you need.  That is rarely, if ever, an option when choosing employer provided insurance.

If you have a pre-existing condition then your best bet may be to stick with your employer’s insurance.  Though premiums may be higher, higher is better than no coverage at all.  It’s a catch twenty-two and a decision that only you can make.  Weigh your options.  Can you really afford not to be covered?