| As you graduate college and head into the great, big, | | | | elsewhere, you pay, the full amount. Since that's a |
| scary world, there are probably a lot of things on your | | | | pretty rough deal, many managed care plans are |
| mind. First and foremost is finding a good job, then | | | | offering hybrid options that include many of the |
| finding a place to live, and then maybe figuring out how | | | | desirable characteristics of an indemnity plan. |
| to pay back those student loans. One thing that might | | | | Which way to go |
| not cross your mind is health insurance. All of your life, | | | | If you find a job that offers health insurance and you're |
| you've most likely been a dependent on your parents' | | | | single, take it. It may not be perfect, but it beats |
| coverage, but that ship is about to sail - if it hasn't | | | | anything you can find on your own. When you sign up |
| already. | | | | through your employer, you'll probably be confronted |
| We know what you're thinking, "Why do I need health | | | | with many options. Take a good, long look at them and |
| insurance? I'm young, I'm healthy, and doctor visits are | | | | ask for help from a human resources representative if |
| few and far between. So why pay for something I'll | | | | need be, but make sure you choose the plan that's |
| never use?" Hey, we understand where you're coming | | | | right for you. Chances are, if you're young and healthy, |
| from. But accidents and illnesses happen without | | | | you'll want a plan with a low premium and higher |
| warning, even to the strapping young adults such as | | | | deductible. Look for a plan that minimizes your out of |
| you. Sure, health insurance is expensive, but not having | | | | pocket expenses. When it comes to choosing |
| it will cost you dearly. | | | | between and indemnity plan or a managed care plan, |
| First things to know | | | | you may or may not have a choice depending on your |
| Let's get one thing straight, health care in the United | | | | employer. Both offer advantages and disadvantages, |
| States is a nightmare, few will argue that. There are | | | | so make sure to crunch the numbers before |
| thousands of options when it comes to receiving care | | | | committing to one or the other. |
| and paying for it, some of them good, some of them | | | | Make yourself a deal |
| not so much. When it comes to choosing an insurance | | | | Though health insurance is a costly part of our lives, |
| policy that's right for you, confusion abounds. So let's | | | | there are ways to save. If you're self-employed, shop |
| learn a little more about your options. | | | | around before you commit to a plan. If you're under 50 |
| There are two essential categories of health insurance: | | | | and in good health, insurance companies will want your |
| managed care and indemnity plans. Though you'll pay | | | | business, and cut rates are to be had. Also, take |
| more for indemnity coverage, it offers much more | | | | advantage of breaks from Uncle Sam. The self |
| flexibility than does a managed care plan. Through | | | | employed can write off up to 45 percent of their |
| indemnity coverage, you'll have your choice of doctor, | | | | insurance premiums. Some employers offer flexible |
| lab, hospital or specialty clinic. When you seek medical | | | | spending accounts, where you can pay for premiums |
| care, you'll have to pay an out of pocket expense, | | | | and costs not covered by insurance with cash that |
| called a deductible, before your coverage will kick in. | | | | isn't subject to taxes. |
| Deductibles range from a few hundred dollars up to | | | | If you're married and your spouse also can get |
| $1,000 or more, depending on your policy. Also, | | | | coverage from their employer, weigh your options |
| indemnity plans require a co-payment on medical care; | | | | carefully. It might benefit you financially and coverage |
| meaning you'll be responsible for a percentage of the | | | | wise if you measure the pros and cons of separate |
| treatment costs along with your deductible. Generally, | | | | coverage, double coverage, or one of you opting out |
| indemnity plans pay only for accidents or illness; they | | | | of your work's plan and enrolling in the other's. |
| usually don't cover preventative care. | | | | Finally, if you've been healthy and believe you can get |
| Managed care is the complete opposite of indemnity | | | | by with minimum health coverage, look into purchasing |
| coverage. Deductibles are usually smaller, | | | | "catastrophic coverage". This indemnity policy offers |
| co-payments are lower, and preventative care is | | | | extremely low premiums, but deductibles can be very |
| usually covered. Your options, however, are limited. | | | | high up to $2,500. Coverage is extremely limited to |
| Through a managed care plan, you can only choose | | | | "catastrophic" events, which you'll need to learn all |
| between health care providers who are contracted by | | | | about. |
| your health maintenance organization. If you go | | | | |