- Thinking about money
- Private health plans
- Types of health plans
- Other things to know about health insurance
- How to manage your health insurance
- Getting answers to insurance-related questions
- Keeping records of insurance and medical care costs
- When you have problems paying a medical bill
- Handling a claim denial
- Keeping employer-sponsored health insurance coverage when you leave your job
- COBRA (Consolidated Omnibus Budget and Reconciliation Act of 1986)
- The Health Insurance Portability and Accountability Act of 1996 (HIPAA)
- The Family and Medical Leave Act of 1993
- The Americans With Disabilities Act of 1990
- The Affordable Care Act
- Government-funded health plans
- Who regulates insurance plans?
- Options for the uninsured
- State coverage and health insurance options for the hard-to-insure
- Financial issues: Getting help with living expenses
- Getting money from life insurance policies
- Outside sources of financial help
- Disability benefits
- To learn more
Private health plans
Health insurance coverage helps with the medical costs that come with the diagnosis and treatment of an illness. It’s important to have and keep good medical coverage. This can help you avoid major money problems. Many people have private insurance through employee group plans or individual plans.
A group plan is a policy that covers a group of people, usually employees of the same company, and often their dependents. In general, employees don’t have to prove that they are healthy to be insured with their job’s plan. Group plans usually cost less, and some employers pay part of the premium costs for employees.
Individual plans may check into your personal and family health and require physical exams or lab tests before they will insure you. They often charge higher rates or premiums based on age or health conditions, and in some cases, may not be willing to insure you at all. Some individual policies also cover family members (dependents).
It’s important to have accurate, up-to-date information and a good understanding of your financial situation and insurance coverage. And, if your insurance cost is not deducted from your paycheck, it’s very important to pay your monthly insurance premiums on time.
Last Medical Review: 09/10/2012
Last Revised: 10/10/2012