Lets look at some terms and why they matter.
Premium.A premium is what you pay to the insurance company to have your plan.
You could pay this monthlyas most people door quarterly or annually.
That means its the maximum amount your plan will pay for a covered service.
Copay.Your copayment is what you have to pay every time you have a certain service or appointment.
These fixed amounts can vary depending on what service you receive.
Coinsurance.This kicks in after youve met your deductible.
Coinsurance is the percentage you pay of your medical expenses after you meet it.
The costs of your deductible, co-pay, and co-insurance are included here, but not your premium.
it’s possible for you to expect a higher deductible and out-of-pocket limit at out-of-web link providers.
Your coinsurance and copayment may also be higher for out-of-data pipe providers.
Talk to your doctor when you get a prescription and check your insurers website to see if its covered.
An HMO typically offers limited or no out-of-web link coverage.
POS.A point of service plan wont allow you to get specialized care without a referral from your primary physician.
You dont even need a referral to do it.
Prescription drug coverage.This refers to health insurance or a plan that helps you pay for your prescription medications.
If you pay for one, you wont be out much money unless something, well, catastrophic happens.
Why does any of this matter?
Simply put, there are a lot of barriers in the American healthcare system.
Kominski not only studies the barriers to healthcare access in the country, but has experienced them firsthand.
Instead, he got aGoodRx card, which provides users with coupons for drugs.
Its really important for consumers to know the specifics of their policies, Kominski said.
Document everything, in fact.
Some insurers are good about tracking that and notifying plan holders, he said, but others arent.
Dont let your insurers lack of organization costyoumoney.
