Frequently Asked Questions
What is a premium in health insurance?
A premium is the amount you pay for your health insurance every month. It's a fixed cost that you must pay to keep your insurance active, regardless of whether you seek medical care.
How does a deductible work in health insurance?
A deductible is the amount you pay out-of-pocket for healthcare services before your insurance starts to cover the costs. For example, if your deductible is $1,000, you need to pay that amount before the insurance company pays for covered services.
What is the difference between an HMO and a PPO?
An HMO (Health Maintenance Organization) requires you to choose a primary care physician and get referrals to see specialists. A PPO (Preferred Provider Organization) offers more flexibility in choosing healthcare providers and doesn't require referrals for specialists.
What is a co-pay in health insurance?
A co-pay is a fixed amount you pay for a covered healthcare service, usually at the time of service. For example, you might have a $20 co-pay for a doctor's visit.
Why is it important to stay within your insurance network?
Staying within your insurance network is important because it typically costs you less. Insurance plans negotiate lower rates with in-network providers, while services from out-of-network providers may result in higher costs or reduced coverage.