Q. What is a Co-payment ?
A. A charge you pay for medical services. Your health care plan covers the remaining medical charges. As an example, you may pay $25.00 for an office visit or a prescription.  *THIS HAS NOTHING TO DO WITH THE DEDUCTIBLE*

Q. What is a Deductible ?
A. The amount of money you must pay each year for coverage to your medical care expenses, before your insurance policy begins to pay.

Q. What is a Lifetime Maximum ?
A. The maximum percentage of benefits available to a member during their lifetime, in which, all benefits served are subject to this limit unless stated as unlimited. * WE RECOMMEND PLANS WITH $5 MILLION COVERAGE.

Q. What is an Out-Of-Pocket Maximum ?
A. The most amount of money you will pay in a calendar year for deductibles and coinsurance.  Ex. Your plan may have a $1500 deductible, 80/20 coinsurance, and Out of Pocket Maximum of $3000.00. This simply means that after you have met your deducible of $1500 the insurance company will pay 80% and you will Pay 20% until $3,000. After you have spent a total of $3,000 the insurance company will pay the rest of the bill. Another Example:  With the same plan mentioned above if you are hospitalized and the bill is $250,000, you will only be responsible for $3,000 and the balance of 247,000 will be paid by the insurance company. 

Q. What is a Pre-existing Condition ?
A. A health problem that existed or was treated before your insurance became in effect. Most health insurances have a pre-existing condition plan that describes under what conditions they will cover medical expenses that relate to a pre-existing condition.

Q. What is a PPO (Preferred Provider Organization) ?
A. A network of health care providers that offers medical services to health plan members at a discounted cost. PPO members usually make their own decisions about their health care instead of going through a primary care physician like an HMO member. The costs to use physicians within the PPO network are less than using a non-network provider.

Q. What is a Premium ?
A. The amount you must pay in exchange for health insurance coverage. (your monthly bill).

Q. What is a Primary Care Physician ?
A. Under a health maintenance organization (HMO) or point-of-service (POS) plan, a primary care physician is often the first contact for health care. It is usually a family physician, internist, or pediatrician. A primary care physician makes referrals to specialists if necessary.

Q. What is a Provider ?
A. Any person (doctor or nurse) or institution (hospital, clinic, or laboratory) which is certified, that provides medical care.

The Importance of Health Insurance

Health insurance is very important but surprisingly many individuals and families do not have any insurance regardless of health or financial situation. People sometimes don’t realize the importance of it and can easily meet unpredictable instances in their lives. Illnesses and terrible accidents come without warning and if there is no health insurance in place, the expenses could be extremely high. The best way to prevent such costly expenses due to sickness or injury would be to obtain a major medical plan that covers hospitalization and other medical expenses. The cost of few days in the hospital would be much  higher than the premiums paid annually for a health insurance plan. If something disastrous happens, one could have the assurance that they are protected financially. Most major medical plans have what is called “The maximum out of pocket”. This is one of the most important aspects of any health insurance plan. The maximum out of pocket limits the insured to a specified dollar amount they would be responsible for if  hospitalized. Generally after that amount has been met the insurance company pays the remanding balance. The beauty of having a quality health insurance plan is that ones finances are not at risk and ones standard of living remains the same. There are plans being sold with no maximum out of pocket protection. These plans should be avoided at all costs as they generally are very limited in what they pay and do not provide sufficient coverage for medical expenses leaving the insured with a very large bill. When purchasing any type of health insurance it is always good to know what the maximum out of pocket is so there are no surprises if you are hospitalized. You should see the importance of having your health insurance policy now. If something  were to happen to you, you could have peace of mind and financial security. You don’t even need to worry. Health insurance is no longer a luxury meant for the rich because affordable plans are available. You just need to find the right insurance carriers to shop their rates.  We quote for multiple companies and allow you to make the best decision that fits you budget. If you have further question call us.  Need a health insurance quote? Individuals in the states of Florida, Georgia, South Carolina, and Texas can click here for an instant quote.

Ways to Save Money on Your Family Health Insurance

When shopping for a family health insurance plan the cost varies a lot depending on the ages of the family members applying for insurance. Younger families tend to see more affordable health insurance rates compared to older families. With that said, it is important to be creative when shopping for health insurance especially if you you have an older family. One of the smartest was to obtain an affordable health insurance plan for the entire family would be to put the younger family member on a lower deductible health insurance plan and the older family member on a higher deductible plan. The reasoning behind this is simple. Younger individuals such as children, and teenagers tend to use a health insurance plan more often than an older individuals. Having the lower deductible for younger individuals would help lower the amount of expenses a family would be exposed to if the insurance was used. As for older adults selecting a higher deductible makes sense for a few reasons. The first reason would be the cost difference. To insure an older adult with his or her spouse the costs are much higher if a low deductible is chosen. Secondly, most adults do not visit the doctor as often as a child or teenager would so selecting a higher deductible would help with the overall cost of family health insurance plan. To put together a package like this separate applications would have to be submitted to the insurance company. Need a health insurance quote? Families in the states of Florida, Georgia, South Carolina, and Texas can click here for an instant quote.