One of the most complicated things out there are health plans, and how to choose the right one. It is very important to know what you should be looking for when deciding on your health plan, what are questions you need to ask, and what are the answers you must get.
Bcbsil will help you get the answers you need. And once you know the answers, you will easily decide what health plan suits you the best.
1. What is a deductible?
It is the amount you need to pay for your health care services each year before your health plan starts to pay. If you have a $2,000 deductible, you will have to pay the first $2,000 of the services. You need to be sure your prescriptions are covered by your plan because the cost of your prescription drugs can count towards your deductibles. When you pay your deductibles, the only thing you will need to pay is the copay for covered drugs.
2. The deductibles are met, what now?
You only pay the copay for the covered services, when you meet your deductibles. It depends on your coinsurance what percentage you’ll pay. The large percentage will be paid by coinsurance, and the rest is for you to pay. If you have a 70/30 coinsurance plan, then you will pay only 30 percent of your medical costs, and the rest is covered by your health plan.
3. Does the deductible reset each year or not?
It does reset each year. You will want to do some procedures or tests at the end of your plan each year, for your out-of-pocket cost to lower. Pay attention at the end of each year, are your deductibles met.
4. Are health insurance deductibles different from other types of deductibles?
They are different. Before the deductibles are met, your health plan can cover only some of the medical services, for example, preventive screenings, disease management care, or simple costs of annual physicals. So, to be more precise, you can use your health insurance even before the deductible is paid fully.
5. What does it mean if I have a family deductible?
If your family is covered by your health insurance plan, it means that you will need to pay a deductible for each family member, and a family deductible. The family deductible is there so you can be sure that your family members can use the health insurance even if their individual deductibles aren’t paid yet.
6. What care services can I use, until I meet my deductible?
It depends on your health plan. Some of the plans cover preventive services fully, and you don’t pay anything when you use them. And because there aren’t out-of-pocket costs, the services you used don’t count for your meeting of the deductible. If you use a health care service that isn’t covered by the health plan you are using, or you are using a provider that isn’t in the network from your plan, it won’t count toward meeting your deductible.
7. What are the pros and cons of a low or high deductible?
It is simple. If you have a high deductible your monthly premium will be lower, and if you have a low deductible, your monthly premium will be higher.
If you choose a higher deductible, you will pay more for the medical services when you need them. And if you choose a low deductible, you’ll plan will start sooner because in most cases you will reach your deductible faster because it’s lower.
If you don’t use medical services that often, then you’ll choose to pay a smaller premium and a higher deductible. But if you have an unexpected injury or an illness, you will probably end up with paying a huge medical bill.
The people that like to have more predictable costs, will choose a higher premium, and a lower deductible.
8. Why do I need coverage, if I must pay so much in front before my insurance starts?
Because your health coverage costs will be lower when you pay your deductible. When you use medical services, you pay the discounted rate, because insurance companies arrange discount rates with the providers. And if you choose not to have health insurance, you will pay twice as much for the medical services you need, or even more.