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How am I Billed for Hospital Care Only Coverage?

Posted in Health Insurance , Hospital Care Only

October 1st, 2009
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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

Advantages and Disadvantages of Hospital Care Only Coverage

Posted in Compare Health Insurance , Health Insurance , Hospital Care Only , Indemnity Health Insurance

April 6th, 2009
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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

The Disadvantages of Hospital Care Only

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

Hospital Care Insurance Facts

Posted in Health Care , Health Insurance , Hospital Care Only

March 30th, 2009
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Health insurance that covers your expenses during an in-patient hospital stay is known as hospital care insurance. While it is not a common form of coverage, some patients decide to take it on if they want to make sure theyre completely taken care of while in the hospital.

While hospital care insurance isnt for everyone, it may work perfectly for you. To decide, check out some basic facts regarding this type of health insurance:

• It is considered a back up to your traditional health insurance coverage, and is never advised to be a primary form of coverage.
• It covers in-patient expenses like x-rays, scans, surgeon fees, ambulance, anesthesia, pathology tests, and operation charges.
• Many plans offer a cash benefit that allows you to take care of expenses while youre in the hospital.
• You may be able to take advantage of an ICU benefit that allows you to pay your expenses if you enter the intensive care unit.
• Some hospital care insurance policies include an accidental death benefit that provides a benefit to your family in the event that you die not at the fault of the hospital.
• There may be an option to cover your family if you need to pay expenses for your spouse and children while youre indisposed.
• Many hospital care insurance plans require no medical tests or financial documentation to receive coverage.

If taking on hospital care insurance is one of your options, there are plenty of companies offering this unique coverage. However, if youre looking for a more comprehensive form of health insurance, a little persistence will get you the exact coverage youre looking for.

>>> Read Part Two of our Understanding Hospital Care Insurance Series: Should I Buy Hospital Insurance Only?
>>> See our whole Understanding Hospital Care Insurance series

Why Hospital Care Only is a Bad Choice

Posted in Health Insurance , Hospital Care Only

March 27th, 2009
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If you have health insurance needs that require in-patient care but dont have a ton of money for coverage, you may be tempted to take on hospital care only. However, this type of coverage alone is often discouraged. Lets learn more facts about hospital care insurance, and why some suggest that you stay away if at all possible.

What is Hospital Care Only?

Hospital care only refers to health insurance policies that only cover the expenses that incur as a result of in-patient hospital services. So for instance, if you have a major surgery coming up and no insurance to cover the experience, taking on this type of coverage can pay for those expenses while youre considered an in-patient.

Why is Hospital Care Only a Bad Idea?

There are a number of reasons that you probably want to avoid hospital care only coverage. Lets look at what they are:

• Basic medical needs are not covered. With this type of health insurance coverage, no services are provided that rest outside of you being a patient in the hospital. This includes any initial or follow-up doctors visits, annual exams, x-rays, lab services, or annual exams even if they are directly related to a condition that required in-patient care.
• Not all hospital expenses are in-patient. Despite the fact that hospital care only is a type of health insurance that covers those actually in the hospital, if you receive any treatment at the facility that is not considered in-patient, you wont be covered. This can very quickly make your coverage more of a hindrance than a help if the hospital insists that you only need outpatient treatment or even surgery for a condition that is ailing you.

The main reason that hospital care only is frowned upon is because it simply doesnt cover enough services. It may seem like an inexpensive way to make sure that hospital bills are taken care of, but if you dont have a back-up health insurance plan for all of your other needs, you will soon learn that you will have been much better off paying a little more for comprehensive coverage.

>>> See our whole Understanding Hospital Care Insurance series

Can I Purchase Hospital Insurance Only?

Posted in Health Insurance , Hospital Care Only

February 24th, 2009
4 Comments

When it comes to health insurance, if you’re paying for it out of your own pocket – that is, you aren’t getting it as a benefit through your employer – you know how much it costs, and how it adds up to a serious percentage of your income.

Health insurance is a major expense. Given that, and the fact that everyone is trying to save money wherever they can, you may be tempted to buy hospital insurance only, in order to cover you during a worst-case medical emergency.

Although you are able to purchase hospital insurance only by speaking with a health insurance broker, it’s usually not recommended. By purchasing hospital insurance only, and foregoing medical insurance, you will be covering yourself for big-ticket expenses, like extended hospital stays that can literally wipe out your savings – but you won’t be covered for medical bills that are also very expensive.

Hospital Insurance as an Addition, Not a Replacement

Under ideal circumstances, we would all have both hospital insurance and medical insurance. That way, we’d be protected from the high costs of medical treatment in the United States. But ideal circumstances are few and far between, and sometimes we have to choose.

If you choose to buy hospital insurance only – and many health insurance companies won’t let you buy it separately from medical insurance – then you’re running the risk of thousands of dollars in bills should you need expensive medical treatment, such as chemotherapy.

If you’re purchasing hospital insurance only because you’re trying to save money, it may not make sense, given how much you could end up spending because you don’t have medical insurance. However, if you’re choosing hospital insurance only because you can’t afford medical insurance, it’s better than no coverage.

To learn more about purchasing hospital insurance and other kinds of health care coverage, be sure to speak to a health insurance industry professional.

>>> Read Part Three of our Understanding Hospital Care Insurance Series: What are the Advantages and Disadvantages of Hospital Insurance?
>>> See our whole Understanding Hospital Care Insurance series

Maternity Health Care – Hospital Care Only

Posted in Hospital Care Only

February 13th, 2009
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Once you are pregnant, the number of doctor visits will increase from the confirmation of the pregnancy to regular checkups on the baby’s development. Without having proper maternity health care and relying on hospital care only, a mother is taking great risks with her baby.

Frequent obstetrician visits can be very expensive without maternity health care insurance. Maternity insurance can be costly, but not having any and relying on hospital care only can cause even more financial damage if something goes wrong. And if you have to visit the doctor or emergency room without the proper insurance, the costs can be greater than any monthly premium. 12% of all babies are born prematurely. By putting all your faith into hospital care only programs, you are not consistently monitoring the development of your baby as is recommended, risking its health down the line.

If you are pregnant or plan on getting pregnant, choosing hospital care exclusively as a way to save money in the long run may cost you more than expected. Maternity health care is a way to ensure that both mother and child are on a healthy path.

Are you taking a risk by having hospital care coverage only?

Catastrophic Health Insurance

Posted in Health Insurance , Hospital Care Only , Indemnity Health Insurance , Managed Care Insurance

January 9th, 2009
1 Comment

A catastrophe can occur at any time. It is something no one ever expects or wants to happen. Unfortunately, catastrophic accidents occur everyday and they can wipe out a persons savings or send them into financial ruin. Catastrophic medical costs can soar to unmanageable heights. This is why catastrophic health insurance coverage may be the solution to this extremely unwanted situation.

Spending money now on catastrophic health insurance coverage may save you much more down the line. Many people make the common mistake that they are saving their money by not investing in health insurance coverage. This type of mistake may cause irreparable damage to their financial future. A catastrophic accident can cost thousands of dollars in medical costs. The cost of a hospital stay alone can to send many people into serious debt. If you cannot afford a complete health care plan, getting a health care coverage plan with a high deductible or solely catastrophic health care coverage may save you from crippling health care costs down the road.

Protecting Your Assets from Unexpected Medical Costs Due to a Catastrophic Accident

The money you spend now will mean you and your family are protected against a future of medical cost debt. A catastrophic health insurance plan is the wisest option for financial protection of your assets and fiscal security. Many people think that their health insurance will cover all of their health insurance costs, no matter what. It is extremely important to check your current policy to make sure you are covered in case of a catastrophic accident. Most policies cover this, but it is always a good idea to be knowledgeable about all the aspects of your plan.

If the only type of health insurance you choose to purchase is catastrophic health insurance coverage, you should always shop around for the best policy. A quick internet search may provide you with a variety of choices that fit your financial and health care needs.