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Today, it becomes very important for customers to do proper research on insurance companies and the health insurance products as there is so much variety and choice available in the market. Although there is so much variety available, it does not mean that single policy which could fit all the needs of all individuals. It is important to assess one’s needs from a health insurance cover and choose a cover. When comparing policies, do not compare them just on the premium structure, but also on the details of the scope of coverage, waiting periods, exclusions, cost sharing provisions and other policy terms and conditions.

Health insurance policies also use cost-sharing provisions though the extent and amount of such cost sharing requirements varies between products and insurers. The cost sharing provisions include sub-limits, which check the maximum amount payable by the insurer for a particular procedure or cost component, as also co-payments, which are a cost-sharing requirement that provide that the insured will bear a specified percentage of the admissible costs. Another cost sharing mechanism, a deductible provides that the insurer will not be liable for a specified rupee amount of the covered expenses, which will apply before any benefits are payable by the insurer.

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This entry was posted on Tuesday, October 18th, 2011 at 4:18 am and is filed under Florida Group Health Insurance, Florida Health Insurance, Florida Medicare, Group Health Insurance, Health Insurance, Health Insurance Blogs, Illinois Health Inssurance News, Life Insurance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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