EXPERT ADVICE FOR BUSINESSES

On this blog, we will write about important terms that you’ll see on your health care plans.

So, today we’ll be discussing deductibles.

The deductible is the amount of money that you pay for covered healthcare services before your health plan starts to pay.

For example, with a $2,000 deductible, you pay the first $2,000 of covered services yourself.

Now, you don’t have to have pay the money up front or pay in full. Maybe you made payment arrangements, maybe you put it on a credit card, or maybe it hasn’t been paid at all.

Bottom line is that that first couple of thousands is going to be billed to you if you didn’t pay it at the time.

Now, after you’ve paid your deductible, made other arrangements, or whatever else you did, you have a small copay or a percentage for coinsurance for the rest of the covered services until you meet your maximum out of pocket. Your insurance company then pays the rest.

Many plans pay for certain services like a checkup or some kind of disease management program before you’ve met your deductible. So, look at your plan. We can help you figure out those plan details if you need it.

All marketplace plans pay for the full cost of certain preventive health benefits even before you meet your deductible, and some plans have separate deductibles for certain services like prescription drugs, but that’s not very common.

Family plans often have both an individual deductible, which applies to each family member, and a deductible double than that for all the family, which will cover all family members.

Likely, we must sit with you and give you some actual examples to have this make more sense.

Generally, plans with lower monthly premiums have higher deductibles and plans with higher monthly premiums usually have lower deductibles.

If you have any questions regarding your coverage, your plan, how it works at any point in time. If you have a friend or family member that needs help with any of these questions again, you’re confused.

Whatever the case might be, please remember we are here to serve you, so call us at 915-591-1957 or visit our website www.plans4life.com

Remember that we help you pla so you can live fearlessly.