One of the biggest concerns for young professionals in Utah is protecting their bank accounts from the high cost of medical care. Without health insurance, a person's entire wealth could be exhausted by an expensive medical bill due to their active lifestyle.
Often, many are overwhelmed by the complicated process of purchasing some form of health insurance. They're searching for a clear definition, but rarely do they get the type of explanation needed to make the right healthcare choice.
Typically, health insurance covers all medical expenses for injuries, illnesses, and other conditions. If you're not covered by your work's healthcare plan, then you'll have to find a personal health insurance policy. The coverage is designed for your personal needs.
Understanding the Terms of Health Insurance Policy
All insurance policies have their own language pertaining to the wording of the agreement, and the healthcare industry is no different. The most common terms found in a basic health insurance policy include deductibles, coinsurance, and copayment. Let's define these terms so you have a better understanding of health insurance in general.
A deductible is a set dollar amount the insurer (you) will have to pay towards their medical bill before the insurance provider pays the remainder of the total. Coinsurance is the remainder of the medical bill that you must pay following your insurance provider paying their portion of the whole. Unless the policy states that your healthcare is fully covered, then all health insurance agreements have a coinsurance percentage attached to the wording of the policy. Finally, a copayment is a flat fee that all insurers must pay at each doctor's office visit or when filling out a prescription request. And your copayment is never counted as partial payment for the policy's deductible if needed.
Whatever your health insurance needs, CN Insurance Associates, Inc. of Utah is happy to provide a review or quote on a possible coverage plan. Come in and meet one of our health insurance experts and all your questions will be answered.