Understanding the types of Health Insurance Plans

By Employer Benefits, Inc.

May 15, 2022

In the vast world of health insurance, it can be challenging to know where to start. There are many affordable insurance plans on the market today with little information and explanation. In this article, we will discuss the different types of plans health insurance companies usually have. 

A reliable health insurance provider commonly offers the following services and plans. Group Insurance, Individual Insurance, Medicare Supplement Plans, Dental and Vision Plans, and more.

Types of Health & Medical Insurance Plans 

Group Insurance Policy  

  • Group Health Insurance is a single contract policy that covers the entire group with medical assistance while keeping your costs to the minimum. Applicable for both small and large businesses. 
  • The sole owner of the policy will be the employer or in the name of the organization they belong to. 
  • In most cases, health insurance coverage is given as part of the employee benefits package. 
Types of Health Insurance | Group Insurance

Individual Health Insurance  

Type of Health Insurance | Individual Family Insurance Coverage Image
  • Individual Insurance, also known as private health insurance, is a type of insurance that you purchase or acquire personally.  
  • It is one of the most in-demand plans for people who do not receive health benefits assistance from their work such as solopreneurs, freelancers, and self-employed individuals. Read our detailed article for more information about the people who need individual health insurance.  

Medicare Supplement Plans  

  • A Medicare Supplement plan is offered through insurance companies. These Medigap serves to fill the gaps that Medicare does not cover, such as copayments, coinsurance, and yearly deductibles. 
  • Medicare supplements plans consist of Part A – Part D and the benefits vary by plan type. For a quick look at the benefits provided by standardized Medicare Supplement plans, please visit this link: Medigap Plan Benefits Chart.  
Types of Health Insurance | Medicare Supplement Plans

Dental and Vision Insurance Plans  

Dental & Vision Insurance Plan
  • Vision and dental insurance are stand-alone plans that can be added together with your existing health insurance plan as a form of supplemental insurance.  
  • Some insurance providers offer benefits for dental and vision insurance as a combined package. 
  • Vision and dental insurance are worthwhile investments to keep your eyesight and teeth in check while keeping your medical cost at a minimum. 

Conclusion 

Understanding the different types of health insurance plans will help you decide which plans would be the best fit for your needs and budget. If you have any questions or inquiries, we strongly advise you to contact your trusted health insurance provider. 

Local Health Insurance Expert 

Employer Benefits Inc. also known as (EBI Insurance) has been in the health insurance industry for more than 40 years. Providing quality health insurance across Reno, Nevada, and surrounding areas. Building relationships with the leading, and most reliable insurance companies in the United States. Give us a call for consultations and free quotations.

Recent Comments

    0 Comments

    Submit a Comment

    Your email address will not be published.

    Pick your next post

    Health Insurance for Senior Citizens

    Health Insurance for Senior Citizens

    As we age, so do our medical needs. All too often, the health insurance we have used is no longer adequate, standard insurers may also be reluctant to offer policies to senior citizens, due to their higher need for healthcare. Medicare and other health insurance very...

    read more
    HMO Eligibility

    HMO Eligibility

    Health insurance is a hot topic. HMO or the Health Maintenance Organization is certainly one option. There are other options, with varying costs and coverage, so which one is best for you? People often choose an HMO as the cost is usually significantly less. This...

    read more
    US Health Insurance System 2022

    US Health Insurance System 2022

    Health insurance in the US is a complex web of legislation, government programs, and private insurers. It can be challenging to understand how it all works, especially if you're unfamiliar with the terminology. This blog post will break down the basics of the American...

    read more
    Read More