Some Short Term and Long Term Health Insurance Quotes

Capitation

This refers to paying the medical service providers a fixed fee each month for each person under the health cover. This fee is independent of the amount of services received or the expenses borne by the medical service provider in giving these services

Cobra or Consolidated Omnibus Budget Reconciliation Act of 1985

This Act requires group health plans that have 20, or more than 20 employees, to continue offering health care coverage for you and your family for a period of 18 months after you have left your job.

Co-Payment

An expense-sharing agreement in which the insured pays a particular amount for a certain type of medical service.

The MSA Plan or Medical Savings Account

This medical insurance policy is a long term health care plan and allows for payment of qualified medical expenses.The sums of money paid into this Plan is tax-deductible, and earnings within the same are taxfree.

Fee for Service

A system of payment for medical care whereby the medical service provider is paid for each medical service given.

Health Maintenance Organisation (HMO)

The concept of prepaid care is the driving force behind the HMO. It is the oldest form of organized health care.For a predetermined fee, the HMO allows its members recourse to a variety of health care benefits- preventive care not withstanding. There is a wide range of HMOs to choose from.

Preferred Provider Organisation (PPO)

The Preferred Provider Organization is a type of organized health care that closely resembles an indemnity plan. A PPO enters into agreements with hospitals and medical service providers who would charge their services for a lesser fee to the insurers. Therefore if you seek medical services from outside the PPO network, your cost-sharing would be higher than if you consult a doctor from within the network.

Point of Service (POS)

Rather than obtain referrals from primary care physicians, the HMO offers the insured patient the right to the concept of self direct care - a facility normally and commonly observed in indemnity plans. When a HMO offers this sort of "opt-out provision", then it is referred to as a POS or a Point of Service Plan.

Usual & Customary Charge

This is the amount that a health plan would recognize, in your service area, as a reasonable payment for a medical procedure.

The best short term health insurance policy would be one that is tailormade to suit your requirements as well as your budget. Considering that its function is to shield against any medical contingency, it would be wise to opt for the best short term health insurance cover after due comparison with other temporary health insurance policies and rates which America's leading medical insurance companies have to offer.

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