Q: What is family and individual health insurance?
A: Individual and family healthcare insurance are types of health insurance coverage that is made available to individuals and families, (opposite of group health insurance coverage). Most people would prefer coverage under a group health insurance plan, rather than purchasing a policy on their own. But, if this is not an option for you, it is still important for you to seek coverage. We offer a variety of low cost health insurance options for both individual’s and families.
Q: What is a co-payment?
A: “co-payment” or “co-pay” is a specific charge that your health insurance plan may require that you pay for a specific medical service, procedure, or supply. For example, your health insurance plan may require a $10 co-payment for an office visit or brand-name prescription drug, after which the insurance company often pays the remainder of the charges.
Q: What is a deductible?
A: Deductible is a specific dollar amount that your health insurance company may require that you pay out-of-pocket each year before your health insurance plan begins to make payments for your insurance claims. Not all health insurance plans require a deductible. As a general rule (though there are many exceptions), HMO plans typically do not require a deductible, while most Indemnity and PPO plans do. The higher your deductible is, the lower your health insurance premiums are going to be.
Q: What is co-insurance?
A: Coinsurance is the term used by health insurance companies that refer to the amount that you are required to pay for a medical claim, apart from any co-payments or deductible. For example, if your health insurance plan has a 20% coinsurance requirement (and does not have any additional co-payment or deductible requirements), then a $200 medical bill would cost you $40, and the insurance company would pay the remaining $160.
Q: Does my plan allow me to use any healthcare provider?
A: If you are covered under an HMO or other closed panel health insurance plan, you will need to receive all services from your primary care provider or other plan providers. If you are covered under a PPO plan or POS plan, you will be able to choose any provider. However, you will be required to pay a larger portion of the bill if you use a non-plan provider, and may be required to have some services pre-authorized by the medical insurance company. Read your member handbook, and ask questions about requirements specific to your plan.
Q: How do I select the best health insurance plan?
A: Think about the most important factors you want in a health plan: affordable; availability of a specific doctor, clinic, or hospital; freedom to see any physician you want; or convenient location of facilities. If you like the physician you are currently seeing, check to see if he or she is a provider in the plan you are considering. If you or a dependent has special medical needs, make sure the plan you are considering has adequate health care services and providers for that specialty.
Q: Does getting a health insurance quote cost me anything?
A: No, RXHealthQuotes provides free health insurance quotes with no obligation. If you buy a health insurance plan through RXHealthQuotes, you’ll pay the regular monthly premium to the health insurance provider you chose, but you’ll pay nothing to us. Our fees are paid by the health insurance companies in the form of commissions. The premiums you will find here, are the same premiums the actuall health insurance companies will quote you.