What to Know When Designing a Health Insurance Policy

Designing a health insurance policy is a reflection of preserving your good health. However, no one should believe that one policy fits all. Despite selecting all of the universal essential benefits, your other choices will help to simplify the overall look of the plan. Bye Financial Group LLC of Grand Ledge, MI can assist with designing a health insurance policy that leaves you well-protected.

Recommended Coverage For a Health Insurance Policy

Generally, health insurance falls under two categories: public and private. The majority of all policyholders have private health insurance as it offers universal essential benefits and additional health care services that are mandated by the State of Michigan. This approach avoids any loopholes in coverage policy. Your health care will become more flexible as you may have different medical needs that aren’t covered in a standard policy. 

The Basics of Health Insurance

It’s important that your newly-designed health insurance policy meets certain local government guidelines before the coverage is valid. Standard health insurance offers preventative medical care like vaccines, test screenings, and yearly physical exams, but other coverage options (out-of-network and urgent care) should be included in the policy. 

Here is a laundry list of universal essential medical benefits:

  • Outpatient care
  • Emergency services
  • Hospitalization
  • Maternity and Newborn care
  • Mental Health and Substance Abuse
  • Prescription drugs
  • Rehabilitative services and devises
  • Laboratory services
  • Preventative Wellness and Chronic Disease management
  • Pediatric services

The key is to design a quality, cost-efficient health insurance policy that provides the right coverage in all medical situations. Too often, doctors prescribe a treatment plan that isn’t covered by a standard health insurance policy. Now, you have a chance to design a coverage plan that cares for your health care needs. 

Rarely does anyone plan to get ill or injured in an accident, but everyone will need health insurance at some point in their lives. With the assistance of Bye Financial Group LLC of Grand Ledge, MI, you can design a health insurance policy that covers all aspects of your medical needs.