Affordable Health Insurance in Philadelphia
Affordable Health Insurance in Philadelphia
Purchasing and keeping an affordable health insurance in Philadelphia can be an intimidating task, because of the health insurance facts related to the city. A study done by the Medical Expenditure Survey shows that Philadelphia’s health insurance costs are higher than those in any US community, except for the City of New York. This fact has hampered many individuals, families, and businesses in Philadelphia from barely keeping up with health insurance costs. Furthermore, it may have largely contributed to the number of uninsured and under-insured residents in the city.

Getting adequate coverage
Yet along with the odds, becoming properly and adequately insured is necessary for the financial and health protection it can provide you and your family, especially during unwanted health-related incidents that can cause financial devastation. There are ways to substantially reduce costs- which primarily starts with a good and basic grasp of you health insurance options. This is for you to know your options, and for you to assess prospective plans according to your coverage needs and financial resources.
There are different types of health plans available in Philadelphia, such as HMOs and PPOs. These can be acquired through getting covered under group or individual health insurance.

Group Health Insurance

Group health insurance is commonly offered by employers, and is usually an affordable health insurance in Philadelphia. If you are an employer and you wish to offer coverage to your employees, you may purchase a group health plan. Specifics such as costs, options, and regulations may vary based on the size of your business, and whether you purchase a self-insured or fully-insured plan. If you are an employee, one of the most feasible ways of becoming insured is through an employer-sponsored group coverage, which may also offer coverage to your dependents. A key regulation is that you cannot be denied due coverage based on your health status.

Other venues where you can be covered through group health insurance are by enrolling in the group plan offered by professional associations, and through other organizations.

Individual and Family Health Insurance

However, group health plans usually offer limited benefit options; which is why people increasingly opt for individual health insurance. Apart from being more flexible and more capable of catering to particular coverage needs and preferences that you and your family have, there are ways to make it far less expensive- such as through purchasing a high-deductible plan, or through purchasing it while you’re still at a young age and with good health status. Some small-employers even prefer to purchase individual plans for their employees instead of group plans. Individual coverage can cater not just to you, but also to your family under one single policy-which normally explains why individual and family health are usually used interchangeably.

If you purchase from an individual health insurer that does not belong to Pennsylvania’s Blue Shield and Blue Cross, your application may be rejected because of your health status and other related factors. Premiums will also likely be based on your age, the size of your family, and your health status.

Student Health Insurance

Students who are no longer covered under their parent’s plans are usually required by the school to have health insurance-either through the school-sponsored plan, or by purchasing an individual student health plan. Both can possibly stand as affordable health insurance in Philadelphia, especially because of cost considerations based on the young age, occupation, and the generally good health status of students.

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Affordable Health Insurance in Philadelphia