Applying for health insurance is a tricky prospect because there are so many factors to consider, including how it is billed the same goes for hospital care only coverage. Even though it isn't a consistent form of coverage in comparison to more comprehensive plans out there, it still may be needed at some point, which is why it's good to know how it is billed in the event that you decide to take it on.
What is Hospital Care Only Coverage?
Hospital care only health insurance is coverage that only pays for in-patient hospital services. This means, any out-patient services, including surgeries, lab tests, x-rays, or doctor's visits will not be covered in your plan. In addition, those services that occur as a result of, but are not in direct relation to, your in-patient visits aren't covered either. These include follow-up visits or annual exams. This type of coverage is only meant to take care of specific in-patient hospital visits. If you need more coverage, it's suggested that you use hospital care only as a backup plan.
How it is Billed
Different plans provide different options in billing. But most require that you pay a low monthly premium for the designated amount of time that you have agreed to finance your policy. If the time comes that you actually need to utilize your benefits, you will very likely have to pay a deductible of a predetermined amount first. The higher your deductible is, the lower your monthly premium will likely be, and vice versa. Because there is no doctor's visit associated with this type of health insurance, co-pays are considered non-issues.
Deciding whether you want to take on hospital care only comes with a long list of pros and cons and determining whether you like how it is billed is just one of them. The good news is that continued research can help you choose, so that you know you've acquired the right health insurance for your medical needs.
Read Part Five of our Understanding Hospital Care Insurance series: Why Having Just Hospital Insurance is a Bad Idea
>>> See our whole Understanding Hospital Care Insurance series
If youve considered hospital care only as a form of health insurance coverage, its good to know that there are some advantages and disadvantages of taking this route.
So before you sign on the dotted line, lets take a look at what they are.
The Advantages of Hospital Care Only
If youre not familiar with
hospital care only, it is a form of
health insurance coverage that pays for your in-patient hospital expenses. For instance, suppose you have a major surgery coming up and you dont have comprehensive coverage, purchasing this type of protection can ensure that your bills for the surgery, as well as other charges associated with your stay, are taken care of.
There are some definite advantages to taking on this type of health insurance coverage. One is that you dont have to worry about paying for a separate policy this one will take care of your expenses as long as youre an in-patient. Another is that it allows you to skate around having to pay for coverage year-round if you dont have the finances to do so.
Of course, with advantages also come disadvantages, so lets take a look at why hospital care only may be a bad choice.
The Disadvantages of Hospital Care Only
One major disadvantage of hospital care only health insurance coverage is that it is not comprehensive. This means it does not help you pay for any type of medical care outside of what you would receive if you are accepted as an in-patient in the hospital. While it may help to pay for a stay, it doesnt cover any other medical issues you may have.
Another disadvantage is that while your bills are covered as an in-patient, if you need hospital care that requires you to be an out-patient, it's not covered. So for instance, lets say you are told you need surgery and you run out to get protection. Then youre informed that the surgery will be handled on an out-patient basis. In this case, no matter what services you receive (x-rays, lab tests, surgery, doctors visits), none of it will be covered.
Before you take on hospital care only, you may want to make sure that it can take care of your current and true medical needs. If not, there are plenty of health insurance offerings out there that are much more comprehensive for your needs.
Read Part Four of our Understanding Hospital Care Insurance Series: How am I Billed for Hospital Care Only Coverage?
>>> See our whole Understanding Hospital Care Insurance series
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