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health insurance quote miami
Let’s explore individual versus group coverage. No matter how a policy is written, narrowly or broadly, medical expense insurance is designed to reimburse for the cost of care whether it results from injury or illness.
If you recall, we explained that there are two broad categories of health insurance policies: disability and medical expense. Thus far we have covered disability. Now we’ll take a look at basic medical expense insurance. Basic medical expense policies provide for medical expenses that result from accidents and sickness. This is a loose term that refers to various medical, hospital and surgical benefits.
Let’s explore individual versus group coverage. No matter how a policy is written, narrowly or broadly, medical expense insurance is designed to reimburse for the cost of care whether it results from injury or illness.
In a group situation, a single policy covers a specific group of people as opposed to a single person as individual policies do. Because of this special nature, insurance companies have to make certain that the number of people covered by a group policy stays at or above a certain level.
Ideally, working for an employer who offers non-contributory health insurance is what most of us would aspire to. However, that is not a realistic scenario.
When included as part of a employee group benefit package, disability income policies are usually more liberal than individual plans as far as limitations and exclusions. It is also much easier to acquire coverage. As a general rule, group plans are much less costly to all parties.
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