Top 10 Best types of Health Insurance in USA

Best types of Health Insurance in USA – Health Insurance is a major sub sector in Insurance that deals with the care of the insurance policyholder. The goal is to maintain the health, and therefore the life of the policyholder through many different plans which work for the singular purpose of paying for or otherwise providing medical care for the insured.

In this article, we look at the various types of Health Insurance in the United State Of America currently available to you. This article reflects recent changes in government policy, and incorporates the Medical Insurance regime that came into place with the Affordable Care Act {ObamaCare} of 2010. The number of Americans without health insurance has been reduced by half since 2013. Many of the reforms enforced by the Affordable Care Act of 2010 were intended to extend health insurance coverage to those without it. Best types of Health Insurance in USA
Some of the Best types of Health Insurance in USA that Exist in the United States are as follows:


Best types of Health Insurance in USA

  1. Federal Employees Health Benefits Program
  2. Indian Health Service
  3. Medicaid / State Health Insurance Assistance Program (SHIP)
  4. Medicare
  5. Prescription Assistance (SPAP)
  6. Military Health System / TRICARE
  7. State Children’s Health Insurance Program (CHIP)
  8. Program of All-Inclusive Care for the Elderly (PACE)
  9. Veterans Health Administration

Private health coverage Types: These are the different types of Insurance policies that are offered by Private Insurance companies. The term ‘Private Insurance companies’ here means insurance companies that are not owned by the government. They may be Limited Liability Companies (LLC) or Publicly Listed Companies (PLCs). This article will focus on the insurance policies and types that are offered by the Private Insurance Companies. Some of them are listed below.

9 Best types of Health Insurance in USA

  1. Health Maintenance Organization (HMO)
  2. Preferred Provider Organization (PPO)
  3. Exclusive Provider Organization (EPO)
  4. Point-of-Service Plan (POS)
  5. Catastrophic Plan
  6. High-Deductible Health Plan With or Without a Health Savings Account

You have many different choices when you look for health insurance. If you’re buying from a sponsored issuer or from an insurance broker, you’ll probably choose from health plans differentiated by the level of benefits that they offer. They are usually: bronze, silver, gold, and platinum. Best types of Health Insurance in USA

How are insurance policies different? Each one pays a preset share of costs for the average policyholder. The details can vary across policies or insurance companies. In addition, deductibles- which is the amount you pay before your policy covers 100% of your health care expenses — differ according to plan and also the insurance company.

Platinum Plan: covers 90% on average of your medical costs; you only pay 10%

Gold Plan: covers 80% on average of your medical costs; you only pay 20%

Silver Plan: covers 70% on average of your medical costs; you only pay 30%

Bronze Plan: covers 60% on average of your medical costs; you only pay 40%

Catastrophic Policies: Catastrophic policies pay only after you have reached a very high deductible ($7.350 as at 2018). Catastrophic plans must also pay for the first three primary care visits and also your preventive care hospital visits for free, even if you have not yet reached your deductible premium.

You will also see that some insurance brands are associated with the care levels. They may have been pioneers in these kinds of policies thus causing a close association with the insurance policies. We will not mention those here in order to maintain neutrality. Best types of Health Insurance in USA
Each insurance company may offer one or more of these four very common types of plans:

  1. Health maintenance organizations (popularly called HMOs)
  2. Preferred provider organizations (popularly called PPOs)
  3. Exclusive provider organizations (popularly called EPOs)
  4. Point-of-service (popularly called POS) plans
  5. High-deductible health plans (popularly called HDHPs), which may be linked to health savings accounts (HSAs)
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