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Get Protected From Critical Illnesses with Complete Knowledge

When it comes to medical insurance, you have lots of choices to pick. There are varieties of numerous types of medical insurance with different offers to consider when making a decision. It became as part of your responsibilities to insure yourself in the future. That is why there is a medical insurance solution at HK that can help you make it happen. You can’t be sure for your health 5 to 10 years from now. You are maybe physically fit these days, but accidents might happen anytime and anywhere. Therefore, purchasing a medical insurance is a very smart idea for you to make. You can see below a brief outline of some of the pros and cons identified with the most well-known types of medical insurance.

Analyzing its pros and cons for short-term medical insurance

Pros

  • Its premiums are affordable that can cost half of the price for a Care Act plan
  • You can use premium savings to buy other care such as vision and dental care coverage
  • It is accepted at many of the top hospital and cancer centers and usually has broad network of healthcare providers
  • Applying for this particular insurance is open anytime during the year

Cons

  • There is no coverage of preceding medical conditions
  • Prior conditions and health status will be evaluated as part of this approval process application, wherefore, applicants can be rejected
  • The prescribed medicines is not covered or they have much-restricted coverage
  • There are some benefits that may not be covered such as maternity coverage
  • Enrollees are subject to affordable care act shared responsibility tax
  • This plan is definite only to a period fewer than ninety days; however, member can still reapply for another plan

Pros and cons of employer-based medical insurance

Pros

  • It frequently has a wide option of medical insurance benefits
  • Due to significant of employer’s subsidization, this lower premium is available
  • Employer premium assistance are not considered as payable for the benefits of the employees

Cons

  • When the enrollee stops working with their employer, the coverage of the medical insurance also discontinues
  • The options of the health insurance is limited only to the selection approved by the employer
  • Small business employers often contribute medical insurance at a lower rate compared to big employers

Pros and cons for health benefits plans

Pros

  • Upon a qualifying incident, the member will receive a cash payment, incidents such as critical illness or accidents
  • It is an affordable premium for this medical insurance
  • There are plans that include more wellness benefits like telemedicine. A kind of insurance where the members have an access to doctor’s consultation via online video chat or phone at no additional charge in 24/7
  • You can apply for this insurance anytime during the year
  • The prescription discounts are often included

Cons

  • The previous medical conditions are not covered
  • The benefits are also linked to particular incidences like a doctor visit or a hospital admission
  • For major illnesses such as cancer, diabetes or pregnancy, you can’t have any benefits
  • The rate is much lower for the capped medical expense than the general medical plans

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