The Benefits Of Private Medical Insurance

For many people private medical insurance is a better option than employer provided benefits. If you are considering private medical insurance, here are a few of the benefits of such services.

Money Savings


In some cases if you shop around you can find competitive rates on health insurance for your family. It surprises many people to find out that they can find insurance rates for the same price, if not less, than what their employers offer. Just because you have a group health plan doesn’t always mean huge savings. You could save potentially hundreds of dollars by shopping for private medical insurance.

It’s Always Available


One of the nicest benefits of private medical insurance is the fact that no matter what your job situation is, the insurance is always yours as long as you the pay the premiums. If you decide to change careers, are ever laid off, or get fired, the insurance follows you. With employer insurance if you lose or quit your job, they don’t have to offer the coverage anymore. If you opt for the COBRA benefits your premiums could skyrocket. With private insurance this doesn’t need to be a concern.

Get What You Need


With private medical insurance you have the option to choose the coverage you need and you want. When you have insurance through your employer, they decide what options to offer you and your rates are based on that. There is no option to get out of services you don’t think you’ll ever use. Instead of being forced to pay for things like chiropractic care, if you don’t use it you won’t need to include it in your plan. You also have the option of adding coverage that you may not have with employer insurance. If you want to take advantage of discounts on alternative medicines like acupuncture, a private medical insurance plan may offer you these services for an extra cost.

Choose Your Costs

With an employer based insurance program your co-payments and deductibles are likely set for you. You either like it and agree to it or you can opt out of the insurance. There aren’t any other options.

With private medical insurance you can choose your deductibles, and even your co-payments. If you are on a monthly budget you can arrange a policy around that. If you visit the doctor often you may want low co-pays. If the deductible frightens you, you can choose a lower one. There are many more options to customize your policy and your pricing with private medical insurance.

Qualifications


With private medical insurance, if you have an existing health concern you can be turned down for coverage. This is one of the few drawbacks. An employer group policy can not turn you down for coverage. They may still use pre-existing condition clauses to not cover certain conditions for a period of time. If you are in good health it won’t be hard to find private medical insurance.

Private health insurance is becoming more and more popular. With the economy in crisis any place we can save money becomes important. The need for health care is great. Private insurance offers you opportunities to always have coverage, at a price you can afford.

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