Health Insurance Types - A Brief Explanation

Individual Health Insurance: Is health coverage that is based on an individual basis. Because it is not a group the premium will usually be higher. That is because less people share in the insurance pool, therefore raising the the risk for the insurer.

Group Health Insurance: Is health coverage that is based on a large pool of people. They are usually derived from larger businesses or organizations. The cost of group insurance is usually less than individual because the risk is spread out among a larger of members.

Supplemental Health Insurance: Is different than group or individual health insurance because benefits are paid to the individual rather than the hospitals or doctors. Aflac is a company that specializes in this form of insurance.

Medicare: Is a health insurance program that is administered by the our government. It is there to provide health insurance coverage to people who are aged 65.

Medicare Supplement Insurance: Sometimes called Gap Insurance, covers expenses that are not cover under plan a,b,c, & d of Medicare.

Long-term Care Insurance: Is coverage to help those that can no longer perform the basic activities of daily living. Some examples of things healthy people perform are toileting, bathing, dressing, eating, continence, and walking. The need for long term care can strike any anybody. It is not just for the elderly.