Find answers for queries on health insurance

Find answers for queries on health insurance
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Health insurance is one of the most important investments you will ever make and is also a legal requirement. Choosing a good coverage that you can afford is necessary. Read on to find out more about this topic that can get a bit overwhelming.

Why is opting for health insurance a good idea?

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Health insurance helps you pay off medical bills and allows you to get preventive and routine care which would otherwise be very expensive. It is a contract with an insurance company, where you pay a “premium” or a fixed amount on a regular basis and the company helps pay or pays all your bills depending on the coverage and policy you have opted for.

What are the various ways of getting health insurance?

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You can opt for private health insurance – through your employer’s group plan or buy own from an insurance company. Those who don’t do this are covered by public “safety net” programs like Medicaid and Medicare.

Which are the biggest health insurance providers?

Which are the biggest health insurance providers?
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The health insurance providers that have the biggest market value are UnitedHealth Group, Anthem, Aetna, Cigna, Centene, Humana, Molina Healthcare and Magellan. There are many more that people opt for with smaller market values. You may find something that’s not listed in a top ten group but works well for you.

What are out-of-network services?

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If you visit a doctor or a hospital that does not have a contract with your health care insurance provider, then those services rendered are out-of-network services and will generally be a lot costlier than going to a doctor who has a contract with your insurance firm.

What is the health insurance marketplace?

What is the health insurance marketplace?
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Health insurance marketplaces are organizations that are set up to make the purchase of health insurance easy. These marketplaces or health exchanges are set up in each state according to the Patient Protection and Affordable Care Act – ACA or Obamacare – to provide government-regulated and standardized health care plans for individuals to purchase policies eligible for federal subsidies.

What are the penalties of not having health insurance?

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Not having health insurance currently (2016) carries a penalty of 2.5% of your annual household income or $695, whichever is higher.

What is the Open enrollment period for 2017 for Obamacare?

What is the Open enrollment period for 2017 for Obamacare?
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Open enrollment for Obamacare is form November 1st, 2016 to January 31st 2017.

Do my dental expenses get covered under health insurance?

Do my dental expenses get covered under health insurance?
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Any form of general dentistry which include routine checkups, cleaning, fillings, sealants and dental x-rays are not covered under health insurance plans. But under Obamacare dental coverage for children is included in health plans purchased through state exchange.

How do I opt for health insurance?

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It is as easy as filling a form online or at a health insurance provider office or calling an agent home and paying the premium every month. There could however be a medical test before getting your health insurance cover approved.

Can my health care plan be revoked because of a pre-existing condition?

Can my health care plan be revoked because of a pre-existing condition?
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Once you insurance coverage starts no insurance plan can revoke you, charge you more or refuse to pay for essential treatment. They must cover treatment for pre existing conditions which includes cancer and diabetes. But, if someone has already been diagnosed with cancer, then medical insurance for that person is denied.

What is the difference between Medicare and Medicaid?

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People with lower incomes can pay for medical care with Medicaid which is a state-run, government insurance program. Those using this facility have to pay a small amount for certain medical care and Medicaid pays the health care provider for services rendered. Rules about who is eligible for this are different from state to state. Medicare on the other hand is government-provided health insurance for people who are aged 65 or older. Even those with disabilities or long term health problems can get insurance through Medicare, though it doesn’t cover all medical costs for those who qualify for it.

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