Consumer Health Plans
Consumer-driven health plans are one of the most popular insurance options available. Everyone wants to have a policy that caters to their needs, but its finding a company that is consumer-driven that can be a bit of an issue. Many insurance companies are beginning to offer consumer health plans to keep up with the demands and competition. Consumer health plans are policies that allow the insured to choose their own health care providers, manage their own medical expenses and improve their health with the factors they are able to control.
A lot of the consumer health plans available have a three-tier payment structure. One of these options include a tax-exempt health savings account or HSA. This is used to pay for medical expenses and allows you to withdraw and deposit money for the cause. The second tier of payment options is a high-deductible health plan policy; this pays for your medical expenses after you have paid for the deductible. The third tier is a mixture of the first two and involves you paying for the health care expenses out-of-pocket.
Consumer health plans also offer individuals the chance to save up money for future health expenses that weren’t needed during the first year. In some cases, you are able to withdraw the money for retirement use -- likely you will have to be over the retirement age. They also offer support online to help you track your medical expenses and select providers.
Some known health insurance providers that have consumer-driven plans include:
- Blue Cross Blue Shield
- Golden Rule Insurance Company
Check your state to see what consumer health plans are available for you and your family.