Read, Keep Records, Stay Informed

Well, to wrap up a two week series of Health Insurance, I hope it has given you a nice overview of what is all involved. I have not dived into any one topic too deeply, because there is so many differences from policy to policy, these articles would be longer than your insurance documents. So instead, read...

HRA And FSA And HSA, Oh My!

Some of the ways you can pay for medical expenses is with pre-tax dollars. A Health Reimbursement Account (HRA) is one type which is usually set aside by your employer. Money in this type of account can roll over from year to year until there are no funds left. A Flexible Savings Account (FSA) Is usually a...

Once A Year Doctor’s Visit

When you look at Preventative services, be aware there are guidelines that define what these are. Loosely defined, these are the services done during a once a year annual physical you have with the doctor. Make sure you are aware of these services, because many plans will cover this differently than a...

Everything Is Covered?

Under some preconceived notion, many assume that once they have health insurance coverage, anything is covered. Or, they assume, their doctor says it’s needed, so then the insurance company must cover it. In all reality, policies have Exclusions and Riders that you should know about and read before...

Coordinating Choices

Coordination of Benefits is probably the biggest thing of the health insurance business that gets confused. What coordination of benefits does is put into order insurance policies when you have two or more insurance policies. Some think, and I’ve heard this: “Well, my plan is better than my wife,...

The Ins and Outs of Providers

Some plans get very specific about In-Network Providers. So much so, you can only get benefits if you only go to in-network providers. There are other plans that allow for Out-Of-Network providers. Depending on the plans, the benefits can be a little less then in-network. But this is to encourage you to...

Adding Up The Coins

Now that we have gotten through copays and deductibles, we must now consider co-insurance. After you satisfy your deductible then you have a portion, shared expenses with the insurance company. Co-insurance is where the plan pays a percentage of the cost and shares the other percentage with you. A few plans...

May I Have Your Copay Please?

Simply, the Copay is the amount you pay upfront when visiting the doctor. Copays can also apply for Urgent Care services, ER visits, and other services under your plan. Read your insurance plan to see if Copays can also be applied to your deductible to help pay it down faster. Most typically do not, but you...

Lint In My Pockets

So, you go to your doctor’s office and you pay something to the doctor out of your pocket. This is how the term Out-Of-Pocket came to be. Under some plans the deductible can be applied toward your out-of-pocket and some plans  it does not get counted toward it. This would be something you’d want...

Initial Costs, Applied To Deductible

Deductible – This is the amount some plans ask you to pay first before the plan makes any payments. This could be a low dollar amount or it could be high. The deductible is an annual event. Either starting over at the beginning of the calendar year or the beginning of the policy year. While a high...