Terms you need to understand before you choose your health insurance

Health insurance is confusing at the best of times, let alone when you are under pressure to choose a plan. So many choices and confusing terms make it a difficult decision. At Preferred Insurance Center in Coldwater, OH we connect with our customers so that we can make a difference in how they look at insurance. Our team is here to help, and we will help all along the way. 

Health Insurance Terms: What You Need To Know

Network

The network is doctors, hospitals, labs, physical therapists, and more which the carrier has contracted to provide services for its members. It is important when you select a plan you make sure the providers you prefer are in the network. With some plans, you must receive treatment only within the network and, with others, you will get the best price within the network. You don’t have to worry about filing claims, it is all taken care of for you. 

Deductible

The deductible is the amount you must pay before your health insurance starts to pay for services. These days, high deductible plans with an HSA  (health savings account) are popular and the most affordable type of coverage. But you can’t have such a high deductible that you never get any coverage. 

Managed care

These days, managed care is the most common type of health insurance. With managed care, you use services within a network and, for some types, your primary care physician manages your care. HMO is the most restrictive, PPO is the most flexible and PPS is a combination of the other two. 

Copay

Your copay is the out-of-pocket amount that you are required to pay for a designated service once you have met your deductible. You will usually pay the copay at the time of service to the provider. 

Give Us A Call

Contact Preferred Insurance Center in Coldwater, OH to discuss the ins and outs of health insurance with one of our experienced agents.