June 15, 2024

What is an insurance company and how does it work?

health insurance, this is a service that is usually offered by public or private companies, which undertake to cover health expenses, that a person may have that is affiliated with their services, this service is provided in exchange for an initial payment given by the beneficiary . The expenses, which in general, health insurance usually provides coverage are in medical services, pharmaceuticals, hospitalization, clinical, it is important to emphasize that this coverage has to be indicated in the policy at the time of the initial payment by the beneficiary. The United States government offers a health insurance service, called Medicare, to be able to enroll the person must meet certain requirements, in turn this service offers various coverage plans that meet to assume expenses according to the needs of the beneficiary

Coverage plans and complementary plans of the companies

Currently, insurance companies offer various plans, which you must take into account the coverage services offered by each one, and thus be able to make a comparison between each of these plans so that you can choose the one that is most beneficial when making a payment. in expenses pertaining to health services. Let us mention some of the plans, first we have plan G, which offers 100% coverage of expenses in medical and hospital services, on the other hand, we have plan N which one of its privileges is the maintenance of the annual payment that It must be done to keep this service, another key point of plan N, is the coverage, where they do not usually pay additional payments for medical services, that is, those expenses derived from attending medical consultations, or home visits, their payment does not is guaranteed by said plan. Now, there are some supplements in each plan, which will allow to cover the expenses in deductibles that the insurance company charges each of its beneficiaries annually, it is important to emphasize that in order for these complementary plans to become operational, the payment of these It must be done prior to the start of the coverage plan of the insurance company that you have requested. You must compare Medicare supplement plans before taking any decision.

Let’s make a comparison between the supplementary plans

Let’s talk a little about these complementary plans, they are denoted by letters that go from A to N, in each plan you as a beneficiary must compare each of them, to choose the one that benefits you the most, taking into account your budget and for course the coverage of each. Suppose you are interested in a plan G, it guarantees a great coverage, it is estimated that 100% coverage in each of the services that you may require throughout the year, compared to plan K, which offers 100% of coverage in hospital service expenses, but in medical service expenses it offers a coverage of 50%, therefore, it would generate a greater out-of-pocket expense, causing some discomfort during your visit to a medical consultation.