• Tag Archives health insurance
  • Common Health Insurance Terms Made Easy

    Finding health insurance seems like it gets more and more complicated every year. There are many unfamiliar terms that make it hard for the average person to understand what’s covered and what’s not under the plans they’re considering. Much of the time, plans differ by the level of the deductible and the amount of copay or coinsurance that customers have to pay. Here is an explanation of those terms for a better understanding of exactly what you’re buying.

    – Deductible. This is the amount you owe for services your plan covers before the insurance company will pay a claim. For example, if your deductible is $1,000, you will have to pay that amount before your coverage kicks in. However, it doesn’t apply to all services, which means that some things, like preventative care or doctor’s visits, may be covered before you’ve reached that $1,000 mark.

    – Copayment (COP) vs. coinsurance (COI). COP and COI are two ways that health insurance companies can share the cost of the services with the patient. While they both have the same purpose, they’re a little bit different. COP is a fixed amount that you pay whenever you get a specific service. For example, a visit to your primary care doctor will cost you $20 every time you go. You may also pay $10 for each generic prescription that you have filled. COI, on the other hand, is a percentage of the cost of the service rather than a fixed number. For example, with COI, you will be charged 20% of the cost of the visit if you see your primary care doctor, and the cost of the visit will vary depending on the nature of the treatment during that visit. Likewise, for a generic drug, you would pay a fixed percentage that would vary by the drug’s cost and its tier. Most companies negotiate discounted rates with physicians and pharmacies, which means that you’re usually responsible for a percentage of that discounted rate.

    – Prescription drugs. The difference between COP and COI can be confusing when it comes to pharmaceuticals because of the different drug tiers. Each health insurance plan will come with a drug formulary to help you understand what you’ll be paying for in that area specifically.

    While these health insurance terms can be confusing, it’s important to know what you’re buying before you buy it, and this product is no different. There have been many changes recently in the way we think about coverage, which means that many people have encountered terms and conditions that they may not necessarily understand. Each person is different, and their personal well-being and their required level of treatment and maintenance will be different as well, which is why it’s important that you choose the plan that best fits your needs. An understanding of the above terms is an important first step in this decision.

    When it comes to health insurance, Galesburg, IL residents can learn more at http://www.wayinsuranceservices.com/.


  • How 24 Hour Clinics Accept A Wide Array Of Insurance Plans

    Many people, to their disadvantage, do not understand that there really is a great difference between a 24 hour clinic in Houston and the emergency rooms in Houston. Many have seen advertisements, perhaps on television, for a 24 hour clinic in Houston, and wondered in what ways a 24 hour emergency clinic is different than emergency rooms in Houston. The great news is that, even though there are several differences, there are also a great many similarities between the two forms of health care. It should also be noted that most to all emergency clinics accept a wide array of insurance plans.

    One major difference between a 24 hour clinic in Houston and the hospital emergency room is that the hospital is trained to handle both emergencies and non-emergencies. A 24 hour emergency clinic is normally only able to handle emergency situations. It is worth noting, however, that even though a 24 hour clinic in Houston only handles emergencies, they are not equipped to handle life-threatening emergencies that include the risks of complications.

    In this case, one may wonder just how well a 24 hour clinic in Houston might replace the average hospital’s emergency room. For one thing, many of the people who frequent an emergency room do so with non-life threatening illnesses or complaints. These are the types of cases that are best handled by a 24 hour clinic in Houston. Also, the average 24 hour clinic in Houston accepts a wide array of medical insurance plans, whereas most hospitals are limited to accepting only the insurance with which they are affiliated.

    If one has no insurance, or a very minimal coverage plan, then it is also cost-beneficial to contemplate a 24 hour clinic in Houston, as it is much cheaper to visit an emergency clinic than it is to visit the hospital emergency room. As an example, if an individual were to enter a 24 hour clinic in Houston with a cut finger that needs stitches, the charges would only be for the actual treatment of the wounded finger. At a hospital emergency room, in many cases, hundreds of dollars can be added on to one’s bill simply for the “convenience” of the emergency room visit. At a 24 hour clinic in Houston, there are no charges other than those directly related to the treatment for which one came into the 24 hour clinic in Houston.