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Frequently Asked Question about Health Insurance in California for Individuals, Family, and small businesses |
| With health insurance rates and plans changing all the time and costs increasing constantly, residents and small businesses in California often have questions about health insurance that are more in depth. Accordingly, we are posting the most frequently asked questions below, along with the most up to date answers. If you need further information or have a different question, please do not hesitate to contact us with your questions. We hope that the information we provide will help you make sense of the changing and sometimes bewildering world of health insurance. |
A premium is the monthly cost of keeping your health insurance policy in effect. Health insurance premiums are determined by a variety of factors, including your medical history, your lifestyle, and your current health status.
A deductible is an amount of medical expenses you are responsible for paying before your insurance starts covering you. A common deductible is $500 - this means you would be responsible for paying the first $500 in medical bills before receiving coverage. Having a higher deductible usually means you enjoy lower monthly premiums.
A copayment is a fixed-dollar amount that you are responsible for paying for a particular medical service. For example, many plans have $20 co-payments for doctor's visits. This means it only costs you $20 to see a doctor.
An out-of-pocket expense is any cost you have to pay yourself when receiving medical care. This includes your deductible, co-payments, and coinsurance. Most health insurance policies have an annual maximum out-of-pocket expense. Once you've paid out enough money to meet that maximum, your insurance company will pay the rest of your medical costs.
Managed care is a form of health insurance that stresses preventive medicine and affordability. In a managed care plan, you typically choose a "Primary Care Physician" who is responsible for approving specialist and hospital care. Managed care was originally introduced as a way to control healthcare costs. It's now the most common form of health insurance in the United States. HMOs and PPOs are examples of managed care.
Health Savings Accounts (HSA) aren't health insurance plans. Instead, they are a financial tool designed to help make your healthcare more affordable. The money you deposit in an HSA is tax-free. You don't pay taxes on qualified withdrawals, either. In effect, it's like getting extra money from the government to pay for healthcare. To open an HSA, you first have to purchase a high deductible health plan.
Having health insurance isn't just about paying medical bills. It's about knowing that you'll always have access to quality care. Health insurance makes seeing the doctor easy and affordable - and that means you're more likely to stay healthy.
The best way to explore your health insurance options is the Internet, where you'll find lots of valuable information online. Our instant quote tool will let you get started comparing plans in just minutes. You'll see your options side-by-side. To learn more about which options are right for you, Start Your Free No-Obligation health insurance quote now
That depends on who you are, there is no single best policy for everyone. To find out which health insurance plans are right for you is to get the advice of a professional health insurance agent to match your specific healthcare needs to a health insurance plan that provides suitable coverage at an affordable price. Finding the right balance of coverage and cost can be tough, but it's a necessity. Contact us - we're always happy to assist you with your health care needs.
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