In the US, there are typically three classes of health insurances – the individual, group, and public health insurance plans. Each is designed to meet specific needs and policies are based on the payer or insurance holder economic status.

For instance, in individual health insurance policy, the insurance holder is solely responsible for paying the entire insurance premium. Thus, it can prove costly compared to other two health plans. In return, certain perks are assured like availing of healthcare programs that complement the payer’s lifestyle and shifting to better insurance companies is easy. Even more, in this type of insurance policy the payer can have the peace of mind that the exact amount of payment is reflected on the insurance holder’s account.

Since nearly 100% of American corporations provide health insurances to their employees, there’s no denying that the group insurance policy remains the most popular among the three options. Ordinarily, it is offered as employee benefit program. It’s more affordable because employers pay a portion of the insurance premium and several medical programs are available.

But compared to the first option, employer-sponsored programs can pose some real risk, such as non-remittance of monthly deduction on employees’ salary or sudden cancellation of the plan as company changes policies.

While the third type, the state-sponsored insurance plans is dedicated to indigent families and aging adults. Obviously, such group of the community is not capable of availing any of the first two options. Some of the programs offered by the US government are Medicare, Medicaid, and Children’s health Insurance program.
The presence of three health care insurance plans speaks that there’s no such thing as one-size-fits-all deal. Thus, in choosing one it’s important to get what is really appropriate to the holder’s needs and preferences.

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Article Source:http://www.articlesbase.com/insurance-articles/types-of-health-insurance-1341288.html

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