To say that most people do not understand much about health insurance is a gross understatement. The language is confusing and as often as not, the choices that are made may or may not be right for the person purchasing it. Cost is a major determining point but choosing the least expensive policy only to find out it offers little coverage is counterproductive. How is anyone without extensive knowledge of insurance language to understand what to look for in healthcare policies? One thing you can do is to count on the experienced staff at Hanneken Insurance Agency Inc. in Little Falls, MN to help you by explaining what each carrier has to offer you.
What is a network?
There is not one network. Each insurance company has contracted with healthcare providers to offer services at a set agreed-upon price. When you choose an insurance carrier it is important you check who is in their network. Hopefully, your preferred doctors and other providers are in the network. If they are not you must decide if you are willing to change doctors or pay more for your service.
Not all drugs are covered by insurance. The formulary is the list of covered drugs for your chosen provider. Both generic and brand name drugs may be included and they are placed in tiers that determine the monthly cost.
The deductible is the dollar amount of expenses paid out of pocket before the insurance begins coverage. High deductible policies are less expensive but may not be the perfect choice for you.
A copay is your portion of a service, the amount you pay when service is provided. Almost all services have copays.
Choosing health insurance is confusing and stressful. At Hanneken Insurance Agency Inc. in Little Falls, MN we want to take the stress out of the process for you. Give our office a call to set up an appointment to discuss your health insurance needs.