[su_box title=”Keep in mind…” style=”default”] Once deductibles and copayments have been met, the stop loss provision is activated This is a specific clause that is contained within any policy that has a deductible as a core component Once the stop loss provision is enacted, the insured will no longer pay Read more…
[su_box title=”Keep in mind…” style=”default”] A rider is any type of amendment to a health insurance policy They can add coverage or exclude coverage depending on a situation Since 2014, health insurance plans have not been able to include exclusionary riders in their policies [/su_box] There are a variety of Read more…
[su_box title=”Keep in mind…” style=”default”] The policy number is typically found on the front of your health insurance card Your policy number, also known as your ID number, is used as an identifier to determine the benefits and eligibility associated with your plan Your group number and other information is Read more…
[su_box title=”Keep in mind…” style=”default”] A health insurance premium is an amount of money that you pay to your insurance company monthly This is not the only cost you have to pay for your health insurance You may also be responsible for copayments and out of pocket costs, as well Read more…
[su_box title=”Keep in mind…” style=”default”] A healthcare claim is a bill that you or your healthcare provider turn into your insurance company in order to receive payment CMS 1500 is a common healthcare claim form, though you should always check your insurance provider’s site to see if they have their Read more…
[su_box title=”Keep in mind…” style=”default”] EPOs offer lower costs but have fewer choices You cannot go outside of the network with an EPO plan EPOs may be somewhat beneficial to people with a large financial reserve or who don’t put as much emphasis on their choice of health care services Read more…
[su_box title=”Keep in mind…” style=”default”] Permanent health insurance is designed to protect a worker in the event they fall ill or are injured and cannot pay for healthcare Permanent health insurance is tax-free There are income protection plans that can be set in place for permanent health insurance policies [/su_box] Read more…
[su_box title=”Keep in mind…” style=”default”] State-run exchanges were implemented by the ACA The exchanges are insurance marketplaces for each state SHOP is a program designed for small businesses The exchanges come in different forms, depending on the state [/su_box] The term “state-run exchange” refers to the public exchanges implemented in Read more…
[su_box title=”Keep in mind…” style=”default”] Health insurance brokers help you find the best policy for your needs Unlike agents, they work with multiple insurers Reports of Obamacare driving health insurance brokers out of business are greatly exaggerated [/su_box] There is a great deal of confusion about what health insurance brokers Read more…
[su_box title=”Keep in mind…” style=”default”] Coinsurance is the consumer’s share of the costs of covered benefits Traditionally, coinsurance starts after customers reach their plan deductible Coinsurance counts towards the limit on out-of-pocket costs under Obamacare Coinsurance is lower among high premium policies than low premium plans [/su_box] Coinsurance is a Read more…
