Health Insurance Articles
The Best Health Insurance Coverage For Young Policy Holders
2010-02-01
Most young people would like to have health insurance coverage but are not certain of what their options actually are. The best health insurance policy for any young policy holder will largely depend upon the needs of the individual, however there are some choices that tend to offer the best options for young people. Both HMO policies and high deductible individual policies might be a good fit for young people. Provided are the details of these two types of health insurance for young policy holders.
Part of the decision about which policy to obtain will depend on what is offered by your employer, or if you will have to buy private health insurance. If you are young, healthy, and your employer offers you several different health insurance options, an HMO is often the best choice. The HMO type of policy is especially well-suited for a young person who is in good health and rarely needs to visit the doctor. It will give you the ability to see the doctor if you become ill, and will also give you coverage for the unexpected serious illness or injury. HMO policies are very good choices for young people who are trying to choose the most cost-effective option possible because they are almost always the least expensive type of insurance that an employer will offer. Doctor visits will usually range from $10 to $25 in the form of a copay, and prescription drugs may be covered as well. The HMO policy does not have a deductible, so therefore the out of pocket medical expenses will normally be limited to your copays, so long as you stay within the HMO network.
Another good option for young policy holders who want to have health insurance but do not think they will use it often is a high deductible individual policy. This is offered by some employers and is usually available as private insurance also. A high deductible health plan will normally designate an amount as the policy deductible. All health expenses up to that amount in a calendar year are the sole responsibility of the policy holder. Expenses beyond that will be shared by the insurance provider and the policy holder. For young people who are in good health and never expect to meet their deductible unless a serious emergency occurs, this might work well since a high deductible policy will be much cheaper than a lower deductible one.
When a young person is selecting health care coverage, it is wise to take personal health into account and make an educated decision based on your assessment. If you are in overall good health and rarely visit the doctor, you have a couple of excellent low-cost options available to you.
