When it comes to medical insurance, you have lots of choices to pick. There are varieties of numerous types of medical insurance with different offers to consider when making a decision. It became as part of your responsibilities to insure yourself in the future. That is why there is a medical insurance solution at HK that can help you make it happen. You can’t be sure for your health 5 to 10 years from now. You are maybe physically fit these days, but accidents might happen anytime and anywhere. Therefore, purchasing a medical insurance is a very smart idea for you to make. You can see below a brief outline of some of the pros and cons identified with the most well-known types of medical insurance.

Analyzing its pros and cons for short-term medical insurance

Pros

  • Its premiums are affordable that can cost half of the price for a Care Act plan
  • You can use premium savings to buy other care such as vision and dental care coverage
  • It is accepted at many of the top hospital and cancer centers and usually has broad network of healthcare providers
  • Applying for this particular insurance is open anytime during the year

Cons

  • There is no coverage of preceding medical conditions
  • Prior conditions and health status will be evaluated as part of this approval process application, wherefore, applicants can be rejected
  • The prescribed medicines is not covered or they have much-restricted coverage
  • There are some benefits that may not be covered such as maternity coverage
  • Enrollees are subject to affordable care act shared responsibility tax
  • This plan is definite only to a period fewer than ninety days; however, member can still reapply for another plan

Pros and cons of employer-based medical insurance

Pros

  • It frequently has a wide option of medical insurance benefits
  • Due to significant of employer’s subsidization, this lower premium is available
  • Employer premium assistance are not considered as payable for the benefits of the employees

Cons

  • When the enrollee stops working with their employer, the coverage of the medical insurance also discontinues
  • The options of the health insurance is limited only to the selection approved by the employer
  • Small business employers often contribute medical insurance at a lower rate compared to big employers

Pros and cons for health benefits plans

Pros

  • Upon a qualifying incident, the member will receive a cash payment, incidents such as critical illness or accidents
  • It is an affordable premium for this medical insurance
  • There are plans that include more wellness benefits like telemedicine. A kind of insurance where the members have an access to doctor’s consultation via online video chat or phone at no additional charge in 24/7
  • You can apply for this insurance anytime during the year
  • The prescription discounts are often included

Cons

  • The previous medical conditions are not covered
  • The benefits are also linked to particular incidences like a doctor visit or a hospital admission
  • For major illnesses such as cancer, diabetes or pregnancy, you can’t have any benefits
  • The rate is much lower for the capped medical expense than the general medical plans