Health Insurance in Michigan
Have you ever become sick randomly and struggled with paying hefty medical expenses incurred during your treatment period? In Michigan, health insurance rules state that if an employer offers health coverage, it must contain minimum benefits required by law. Health insurance coverage mainly provides much needed financial backup for you and your family in case of medical emergencies as well as pre-existing illnesses. At The Vernon Agency in Vernon, MI, we are always ready to take you through a path of acquiring a health insurance policy that suits your needs and budget.
Types of health insurance
- Preferred provider organizations (PPOs) : It has a network of approved providers with which they have negotiated the cost. There is freedom in choosing a doctor who suits your treatment needs. There are also limitations in the choice of hospitals as your treatment designations.
- Point of service plans (POS) : They usually offer lower costs, but the list of providers may be limited in scope. The policyholder is responsible for filling all the paperwork when they visit an out of network provider.
- Indemnity/fee-for-service plans : This type of plan allows you to go to any given hospital in any part of the country for treatment as well as choosing a doctor you want. The insurer will typically pay at least 80% of the cost of treatment while the patient pays the remaining cost as a co-partner.
- Health maintenance organizations (HMOs) : This is a medical group that provides health services directly to the insured for a fixed annual fee. MOs cover emergency care regardless of the health care providers.
- High deductible health plan (HDHP) : Under this health insurance plan, you are required to have a health savings account. Some DHP's also provides additional subsidies even before a deductible is paid.
If you are interested in acquiring a health insurance policy in Michigan, feel free to call or visit our The Vernon Agency office in Vernon, MI for more information!
