Individual & Family Affordable Health Insurance

WHO NEEDS HEALTH INSURANCE? 

The answer is easy, everyone! No matter your age, gender or shoe size, you need affordable health insurance. Just like you need car insurance, in case anything happens to your vehicle, health and medical insurance will cover you if you become sick or suffer an injury. 

WHAT IS HEALTH INSURANCE?

Health and medical insurance is coverage that provides for the payments of benefits as a result of sickness or injury. It includes insurance for losses from accident, medical expense, disability, or accidental death and dismemberment.

IS HEALTH INSURANCE EVEN WORTH IT?

Having good health insurance is one of the most crucial pieces to your financial plan. It's vital to your financial health by helping protect you from financial calamity. In fact, having the right kind and the right amount of health insurance is one of the smartest money moves you can make. 

WHAT'S INCLUDED IN A HEALTH INSURANCE PLAN?

Health insurance covers all of or the majority of cost when you visit primary physician, specialists and other medical providers. Most providers cover 100% of your annual preventative care. It also covers when you get health care services at a hospital, whether for emergency care or surgeries, outpatient care, procedures or overnight stays. 

WHAT ARE SOME CONS OF NOT HAVING HEALTH INSURANCE?

If injured or diagnosed with a severe illness, uninsured adults are more likely to face negative consequences due to medical bills, such as using up savings, having difficulty paying for necessities, borrowing money, or having medical bills sent to collections resulting in medical debt. 

UNDERSTANDING HEALTH INSURANCE TERMS:

It seems as if health insurance terms and wording originate from another planet and a different language, so let's take a look at some standard terms that might make it easier to understand:

Deductible: The amount that the insured must pay out-of-pocket  before the health insurer pays its share. For example, policy-holders might have to pay a $500 deductible per year, before any of their health care is covered by the health insurer. It may take several doctor’s visits or prescription refills before the insured person reaches the deductible and the insurance company starts to pay for care. Furthermore, most policies do not apply co-pays for doctor’s visits or prescriptions against your deductible.

Co-payment: The amount that the insured person must pay out of pocket before the health insurer pays for a particular visit or service. For example, an insured person might pay a $45 co-payment for a doctor’s visit, or to obtain a prescription. A co-payment must be paid each time a particular service is obtained.

Coinsurance: Instead of, or in addition to, paying a fixed amount up front (a co-payment), the co-insurance is a percentage of the total cost that insured person may also pay. For example, the member might have to pay 20% of the cost of a surgery over and above a co-payment, while the insurance company pays the other 80%. If there is an upper limit on coinsurance, the policy-holder could end up owing very little, or a great deal, depending on the actual costs of the services they obtain. 

Out Of Pocket Maximum: The out-of-pocket maximum is a limit on what you pay out on top of your premiums during a policy period for deductibles, coinsurance and copays. Once you reach your out-of-pocket maximum, your health insurance will pay for 100% of most covered health benefits for the rest of that policy period.