When purchasing health insurance, it is vital to know, precisely, what it is. Health insurance is when your insurer pays for some, or all, of your health care costs in exchange for a monthly premium. It sounds simple, but health insurance can be complex, and it is better navigated when you have the services of an insurance agent to guide you. That is why you should consider speaking to the folks at Midwest Professional Insurance.
To start, get comfortable and knowledgeable with health insurance lingo. Words like:
- Allowed amount – the maximum amount your insurer will pay for a service.
- Deductible – how much you need to pay to the provider before your plan begins to pay.
- Co-payment – the fixed amount you pay for a covered service before you can receive the service.
- Co-insurance – your share of the costs for a covered health care service.
- Network – the providers and facilities that are contracted by your insurer to provide health care services.
- Out of pocket limit – the maximum amount you will pay before your insurance starts to cover 100% of the cost.
Once you have a handle on the terms, establish what kind of cover you are looking for, for whom, and how much you are willing to spend on a monthly premium. Is the health insurance only for yourself, or do you need health insurance for your spouse and children?
Consider the minimum health benefits set out by certain plans and what they really cover, including but not limited to:
- Emergency services
- Preventative and wellness services
- Prescription Drug coverage
- Rehabilitative services
- Pediatric Services
When it comes to your health, do your homework! Midwest Professional Insurance can help you navigate health insurance and the cover available. Contact them today!