About Commercial Health Plans

Health insurance plans provide individuals and their families with medical coverage. The insurance industry is competitive, so various commercial insurance providers compete against one another when it comes to cost, deductibles and covered services. As such, no two health plans are the same.

Features

When considering commercial health plans it is imperative to study the plans’ features. Not all commercial plans cover things such as X-rays, emergency room visits or lab work, and some charge extra to see a specialist.

Function

People who enroll with commercial health plans pay an assigned price for the type of plan they select. Costs vary depending on the deductible. Plans with high deductibles typically have a lower monthly cost to the member. Low deductible plans are more expensive.

Types

Commercial health plans offer members a new type of insurance option known as health savings accounts. Health savings accounts are different than the traditional plans in that they allow members to pay into a bank account and withdraw the money in their account to be used for medical expenses, such as doctor visits, prescription medication and eye exams. The U.S. Department of the Treasury explains that health savings accounts have high deductibles, so the monthly cost for the member is affordable.