Health Policy Provisions
Health insurance policies are designed to pay for individual medical expenses incurred such as: doctors visits, prescription drugs, medical equipment, hospital stays, emergency room charges, surgery, etc. Health products available:
- Health Savings account: allows the insured the ability to take a high deductible plan and invest the difference in an interest bearing account. The health savings account funds are intended to pay for those expenses that are below the policy deductible and other miscellaneous medical expenses not covered by their health plan.
- High Deductible plan: Increase deductibles ($1000, $2500, $5000, etc.) decrease the cost of the health plan premium and shift more of the initial health care expense to the individual. Intended to cover large medical expenses.
- Comprehensive Major Medical: This is the most common product in the market place. Very popular because it pays for most all health expenses incurred by the insured (i.e. doctors visits, prescription drugs). However, due to the increased cost of health care cost the premiums are beginning to become very expensive
Most bankruptcies are caused by unexpected medical bills. Adequate health insurance can play a major part in helping you maintain peace of mind and solvency during a health crisis. Contact SanBuck Insurance today for a review of your existing policy or to make sure that you are adequately insured with the right type of insurance for you and your family's situation.
