Health insurance is a confusing topic, and it can be hard to know what you’re looking for when buying. There’s so much information out there that it can feel overwhelming. We want to make this process easier for you by breaking down the things you should look for when buying health insurance. In this blog post, we’ll discuss:
– The type of coverage plans available
– Qualifications needed to sign up
– What a deductible is and why it matters
What types of health insurance coverage are available?
There are a few different types of health insurance available. The most popular type is called an HMO, which stands for Health Maintenance Organization. This plan offers the cheapest premiums but requires that you live in their network to get benefits from them. If you want more flexibility and still low rates, then consider a PPO – Preferred Provider Organization. These plans are more expensive, but they allow you to use any healthcare provider if the provider agrees to its terms. The last option is a traditional indemnity plan, which covers your medical bills and do not require you to sign up for specific providers.
What qualifications are needed to sign up?
The only requirement that’s needed to sign up is that you be eighteen or older.
What’s a deductible and why does it matter?
A deductible is the amount of money you must spend for your insurance company to start providing benefits. This means, if you need surgery today with an expensive price tag of $15,000, then your insurance company will only help cover the remaining $4500 if you have a $4000 deductible. A high-quality health insurance plan should have low or no out of pocket costs so that you’ll never pay more than what your monthly premium is worth.
What is the health care provider’s network like in your area?
It depends on which type of plan you choose, but most plans will have a network that they work with. If you want to use providers outside of the network, then be prepared to pay more for those medical bills.
How much will you pay for prescription drugs each month?
This depends on the plan you choose, but most plans offer a prescription drug coverage. This means that your insurance company will help pay for some of your prescriptions each month if they’re in their network. It’s important to know what other types of benefits are offered with the plan so that you’ll know how much it will cost you.
What are the co-pays and deductibles, and how do they compare with other insurance plans?
The co-pay is the amount that you need to pay for a medical service when it’s rendered, and the deductible is the amount of money that you must spend before your insurance company starts paying some or all your bills. Co-pays tend to be lower on most plans than deductibles are, so this can save you more money overall.
What is an HSA, and how does it compare?
A Health Savings Account (HSA) can be used for medical expenses that aren’t covered by your insurance company like prescriptions or co-pays to doctors’ offices. This account will let you save money on these types of costs because they are tax
Is there an emergency room visit copay or any other hidden charges that may not be included in your monthly premium?
Some plans may charge a copay for emergency room visits, but this is uncommon. Most often, these charges will be included in your monthly premium or out-of-pocket costs. It’s important to know what you’re signing up for so that you don’t get surprised with higher-than-expected bills later.
If you want to discuss options for health insurance, please call us at 561-732-9305 our quoting hours are Monday through Friday from 8:30 AM to 5:00 PM. In addition, you can request a quote online. Please remember, We Handle All the Work, While You Save!
Robert Macoviak is the President of Oyer, Macoviak and Associates. Oyer, Macoviak and Associates is the oldest independent insurance agency in Boynton Beach and has been in business since 1953. Oyer, Macoviak and Associates are vested members of the community who are committed to doing business face-to-face and being your insurance advocate in times of need.