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Health insurance is a program that covers medical expenses or income lost due to illness or injury caused by accidents. These policies are likely to cover part or all of the expense of hospitalization surgery physicians fees drugs and medicines laboratory tests, X-rays etc. In other words, health insurance is a contractual relationship wherein the insurance company reimburses the insured for health care costs in exchange for premiums. The contract generally quantifies the type of health care benefits covered by the policy, as well as the cost that the insuring company would reimburse.

Health insurance is considered to be one of the most controversial forms of insurance, as there is always a perceived conflict between the need for the insurance company to remain solvent versus the need of its customers to remain healthy. As a health insurance policy is a legal, binding contract between the insurance company and the customer, the insurance company is bound to pay all valid claims without question. I (more...)

Because premiums, deductibles, copayments, and coinsurance levels for small business group health insurance policies in Texas can vary widely from plan to plan, it pays to shop around.

Have a good understanding of your employees healthcare needs before you start shopping. Do they require frequent medical care or do they rarely see the doctor? Are they more concerned about preventive checkups or coverage in case of emergency? Are prescription or maternity benefits important to them? This is an essential first step. You want to purchase a plan that offers the medical benefits your employees need, without a bunch of “extras” your employees won t take advantage of. You ll pay for these “extras” in the form of higher premiums.

When shopping for coverage, the Texas Department of Insurance recommends keeping these guidelines in mind:

? Be sure you understand the full extent of each plan s coverage when comparing plans and rates. If you decide to go with a consumer ch (more...)