Confused about buying health insurance?

Question

ok i am confused about the whole deductable thing...ok lets say the deductable is 2000 dollars, does this mean, that i have to payt his aomount by co-payments and once i pay off this amount, i get insuired? and i can see a doctor?

Answer 1

The deductible is the amount you pay before the insurance company starts to pay your medical bills. With co-pay plans the co-pay for doctor visits do not count towards the deductible. If you needed lab work, x-rays or hospitalization then you would pay the first $2,000 (deductible) then the insurance company would start paying a portion of your bills depending on the percentage of coinsurance the plan has.

A higher deductible will get you lower monthly premiums.

With all the different health carriers and plans available most people really should use a health insurance broker. A Broker represents multiple carriers and can help you sort through all the different insurance companies and plan options in your state.

For example a broker can access to 10 major carriers and 60 different plans just for one state.

You can try doing your own research on the internet, but if you give a good broker 5 minuets they will be able to make suggestions on which carrier may fit you best.

I suggest using yellowpages.com to search for health insurance brokers in your area.

Don't call your auto and home agent they specialize in property and causality insurance. You need someone that specializes in health insurance.

Answer 2

The deductible means that you have to spend $2000 (your example) of your own money before the insurance kicks in and pays for anything.

Answer 3

It means, you pay the first $2,000 in medical bills, before the insurance pays ANYTHING.  And after you pay the first $2,000, you STILL pay copays and coinsurance.