Medical Insurance vs. Health Insurance

‘Medical insurance’ and ‘health insurance’ is essentially the same thing.  Health or medical insurance is defined as insurance that covers policy holders against loss that results from an illness or an injury.  Medical insurance includes coverage for doctor ‘s visits, medicine, surgery, and other medical expenses.

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Lack of good medical insurance can have a significant impact on you and your family.  Over 60% of the bankruptcies filed in the United States are the result of medical bills, according to a Harvard University study.

Three ways to pick the right medical insurance

  1. Before you buy, research the different types of insurance that are available.  Are you willing to sacrifice choice and go with a health maintenance organization (HMO) plan in order to save money?  Or would a preferred provider organization (PPO) plan be better for you?  PPOs are slightly more expensive than HMOs, but they offer more choice.
  2. If you or one of your family members have a pre-existing condition, it is important to understand how the insurer will handle this.  Many people who have had insurance through an employer do not realize that pre-existing conditions can make a difference in the cost and quality of your policy.  Group policies cannot reduce benefits because of pre-existing conditions.  This is not the case with private medical insurance.
  3. It is important that your medical insurance provider will be there when you need them.  Make sure you know how financially stable they are before you buy.  Independent ratings agencies provide ratings for all insurance providers.  Also, consider how good the provider ‘s customer service is.  Review their customer satisfaction scores.

Medical insurance quotes online

Medical insurance quotes can be obtained online quickly and easily.  The first step is to request a free quote today. We ‘d be happy to help.