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Health insurance is a necessity for all. With medical expenses soaring every day higher than a hang glider, paying for them could have you digging deep into the pockets of your jeans.

What types of health insurance are available?

Health insurance plans usually falls into one of two categories: indemnity plans (also known as reimbursement plans) and other one managed care plans such as health maintenance organizations (HMOs), preferred provider organizations (PPOs), and point of service (POS) plans.

An indemnity plan gives the privilege to choose your own doctors and pays for your own medical expenses totally, in part, or even up to a specified amount per day for a specified number of days.

Managed care plans generally provide wider coverage, but they all have an arrangement between the insurer and a selected network of health-insurance providers (doctors, hospitals, etc.). For example, an HMO would require that a primary care physician in the network coordinate all of your care and also refer you to specialists in the network.

No matter which type of health insurance you buy, you'll should to make sure it offers the right kinds of insurance coverage.

What should be covered?

' A good health insurance policy holds several types of coverage.

' Hospital cost insurance pays your room, board, and other incidental services costs if you're hospitalized.

' Surgical expense insurance covers surgeons' fees and all the related costs associated with surgery.

' Physicians cost insurance pays for visits to a doctor's office or for a doctor's hospital visits.

' Major medical insurance offers tremendously wide insurance coverage with a very high maximum benefit that's designed to protect you against losses from catastrophic illness or any injury.

Where can I get health insurance?

You may get health insurance through a group insurance plan at work or through another group affiliation (a school, a club, etc.) or by purchasing an individual insurance plan on your own. By purchasing an individual insurance plan on your own, you might even be able to modify the health plan. Shop online to compare rates from numerous companies to find the best plan and rate to meet your needs.

Which plan is best?

The best health insurance plan for you is the one, which gives you the greatest flexibility and the most payback for the lowest cost. You'll need to shop around and get several quotes before selecting a plan. Here are a few points to consider:

' What co-pays, deductibles, and other coinsurance requirements apply?

' How much freedom do you really have to select your own health-care providers?

' Does the plan cover the health services, which you need?

' Does the plan cover the health-insurance providers you're currently using?

' Does the plan offer family, individual coverage as well?

' Does the insurance plan cover pre-existing conditions? If so, is there a waiting period? (The average waiting period is three months to one year.)