Insurance News Today - January 17, 2007

Health insurance is a very important subject in anyone's book. We are all prone to illness now and again no matter how good our health is. Health insurance is for those times when unexpected illness or accident strike. Medical costs are very high and not everyone can afford to pay for it without the help of medical insurance.

There are a number of existing medical funds that one can participate in. If you do not find one that suits your specific needs you need to contact an insurance agent who specializes in medical policies and will be able to put a policy together that suits your particular needs. The premiums for this type of policy are higher than you would be paying to participate in an existing scheme that has a lot of members.

When a large group of people belong to a specific medical scheme the insurance company can negotiate with medical practitioners and medical service providers for discounted prices. The doctors concerned will form a network and will only be practicing for the consumers connected to this scheme. These discounts enable the insurance company to make the premiums lower for the consumers. The larger the group belonging to a medical scheme the lower the prices can be made.

There is a negative side to this type of policy as the consumer is limited to the practitioners they might consult. The can only consult the doctors from the network. The fact that there are so many members of the scheme sometimes results in a consumer having to wait for days to see a certain doctor. You might then have to see a different doctor to one that you are used to and will probably find this irritating. If you had an emergency situation this will be dealt with for you. Each time you consult a doctor you have to pay a nominal fee, this subsidizes the fund as the premiums are so low.

There are schemes that only cater for the unexpected expensive medical procedures and hospitalization. This is a very good medical scheme to belong to if you are relatively healthy and do not want to pay for a policy that allows for the day to day medical care. If you do not make use of this it is silly to pay for it. The hospital plan will pay for all treatment received while in hospital, including medication.

Nothing is more rewarding than knowing your family is insured. But finding that insurance can be a pain...If you need insurance, you need it now. Many spend hours weeding through the phone book looking for health insurance - wondering; which insurance ad do I call?, do they have the best policy?... who knows what to do... We do!

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