Basics
Learn more about the basics of health insurance coverage, including cost-effective ways to use your coverages, policies, and accounts.
What is coinsurance in health insurance?
Coinsurance is a type of cost-sharing in health insurance where the policyholder pays a portion of the cost of a medical service, and the insurance company pays the rest. Understanding coinsurance is essential for anyone who wants to make informed decisions about their healthcare and health insurance. This article will dive into what coinsurance is, […]
UPDATED: MARCH 10, 2023
What is a copay in health insurance?
When you purchase medical insurance, you may be confused by some terms. Coinsurance, copays, and deductibles are all varying payments. But what do they all mean? Not all plans use copays in expense costs. Let’s dive deeper into medical services and the role of health insurance copays. When do I have a copay? A copayment […]
UPDATED: FEBRUARY 17, 2023
Is Zero-Deductible Health Insurance Right For You?
As you’re shopping for health insurance, you may see plans that offer no deductible. Zero-deductible plans don’t require you to meet a minimum balance before the health insurance company contributes to your health care expenses. These plans typically have higher premiums, while high-deductible plans have lower monthly premiums. If you frequently require medical care or […]
UPDATED: DECEMBER 21, 2022
Understanding Out-Of-Pocket Health Insurance Costs
Even incredible health insurance has its share of out-of-pocket costs and is typically a form of coinsurance. These expenses come from different areas and can range significantly depending on your healthcare plan. The best way to avoid surprises and save money is to understand out-of-pocket health insurance costs properly. To give you a solid foundation, […]
UPDATED: DECEMBER 21, 2022
How Do Embedded Deductibles Impact Your Health Insurance?
If you have family health insurance coverage, you may have heard the term ‘embedded deductible.’ You must understand the type of deductible your health plan uses. Embedded deductibles have an individual deductible and a family deductible for the policy. So, how does an embedded deductible work? Here is an explanation of how they pertain to […]
UPDATED: DECEMBER 21, 2022
What’s a Health Insurance Deductible, and How Does It Work?
Before you enroll in a health insurance plan, you should pay careful attention to your plan’s annual deductible. Deductibles vary by plan, especially if you buy a health insurance plan through the Affordable Care Act (ACA) Marketplace. Here’s a primer on deductibles to help you make an informed decision on your new healthcare plan. What […]
UPDATED: MARCH 15, 2023
Are There Tax Penalties For No Health Insurance?
The Affordable Care Act (ACA) mandated Americans have health insurance. The mandate included an IRS tax penalty, or shared responsibility payment, for non-compliance. Numerous states declared the mandate unconstitutional. Let’s look at tax penalties for health coverage, what they are, and the states where they apply. Is There a Tax Penalty For No Health Insurance? […]
UPDATED: FEBRUARY 17, 2023
How to Find Low-Cost Individual Health Insurance
Finding low-cost individual health insurance can be costly if you don’t know where to look. The main issue many people run into is finding a balance between the price and quality of the plan. You do not want to sacrifice quality for price or vice versa. If you need direction on where to look for […]
UPDATED: FEBRUARY 22, 2023
Family Health Insurance Plans Explained
Family health insurance works the same way as individual health insurance. The only difference is it covers multiple people. Because of this, they often have a higher deductible, monthly costs, and out-of-pocket maximums. What Is a Family Health Insurance Plan? Affordable Care Act (ACA) requires all health insurance plans, including family ones, to cover specific […]
UPDATED: FEBRUARY 17, 2023
Getting an Individual Health Insurance Plan
Open Enrollment begins soon. If you’re interested in signing up for an insurance plan, don’t go into it uninformed. Learn how it works, the cost, and what you need to know about individual health insurance coverage. What Is Individual Health Insurance? Individual health insurance is a health care plan you purchase directly through the marketplace […]
UPDATED: MARCH 13, 2023