Medical Isurance and How Americans Pay For It?
One of the most common ways to pay for medical bills in the USA is healthcare insurance. It is necessary to define what medical insurance exist and how much it costs. And one more question whether Americans issue payday loans or bank loans to cover these expenses.
What insurance plans do exist and how much does it cost?
Depending on the rate of coverage for medical expenses, there are 5 basic insurance plans:
- platinum – about 90% paid by the insurance company;
- gold – the insurance company pays about 80%;
- silver – the insurance company covers about 70%;
- bronze – the insurance company compensates about 60%;
- minimum insurance – created only for emergencies and is available only to people under 30 years old or to those who can confirm that they are in a difficult financial situation.
It is also worth remembering that insurance plans differ in many important points, such as:
- co-pay (a fixed amount that you pay for each medical service, and the remainder is covered by the insurance company);
- deductible (the amount that must be spent before the insurance coverage);
- co-insurance (you pay a certain percentage of the cost, the rest is the insurance company);
- out-of-pocket maximum (the maximum amount that you spend during the year you begin to receive 100% coverage from the insurance company).
Dental and ophthalmic insurance are traditionally purchased separately. Dentist services only include medical insurance for children in the United States.
The cost of insurance will depend in large part on your income, state and the chosen insurance plan. For example, HMO insurance from Kaiser Permanente in 2016 for a family of one person will cost from $ 160 (minimum insurance plan) to $ 315 (platinum plan) per month.
How do Americans pay for medical insurance?
Americans have to buy medical insurance to get healthcare services. But it is expensive for many citizens and they have no idea how to cover these expenses. Some people who work at a constant place use a help of the company to cover insurance plans. But there are many of them who cannot count on such a help that’s why they try to find another option. Some of them may address charitable organizations that may help collect enough funds to cover healthcare bills for poor layer of citizens.
One more option used is payday loans MN. It is a service that cooperates with many US lenders able to issue a payday loan at attractive, reasonable, favorable terms and rates. You may pay a loan back earlier or according to your schedule. It is up to a client to decide.
What you need to apply for a loan to pay for an insurance?
The list to qualify for a loan includes the following points:
- be at least 18 years old;
- be a U.S. citizen;
- be employed and have a reliable source of income;
- have a checking account;
- have a valid email address and phone number.
As you can see akmost every US citizen may apply and be approved for a payday loan.
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Tags: health insurance, insurance, payday loans