Health Insurance

Many people have access to health coverage through their employers. If you don’t have employer-provided coverage, there are other ways to obtain coverage.  

Contact Jones-Byrd Insurance Agency in Dunn, New York, to learn more about your health insurance options.  

How Much Health Insurance do I Need? 

When shopping for health insurance, you may not have many choices regarding the extent of your healthcare coverage. Unlike auto or homeowners insurance, you typically don’t choose limits on your health insurance policy. Rather, you’ll choose from plans ranging in deductible and premium prices. Generally speaking, the higher the plan’s premium, the lower the plan’s deductible. This means that while you’ll pay more each month for coverage, your out-of-pocket responsibilities under that plan tend to be lower than plans with higher deductibles.  

You’ll want to evaluate your current health status and expenditures and also look at your finances to determine how prepared you’d be for an unexpected health expense. Then you can weigh whether it’s more practical to pay more each month for more coverage versus paying less each month but risking higher out-of-pocket costs in the event of an illness or injury.  

How Health Insurance Works 

Your health insurance plan has a monthly premium due, whether you seek healthcare services or not. You may be required to pay a copayment when you need healthcare services.  

You may have to pay 100% of your healthcare costs until you meet the plan’s annual deductible. When your healthcare plan starts covering your medical expenses, you may have to pay a certain percentage of each bill, called coinsurance.  

After receiving healthcare services, the provider bills your insurance company, and they pay the healthcare provider directly. You’ll receive an explanation of benefits (EOB) showing the following: 

• The amount you owe the healthcare provider if you haven’t already paid your coinsurance or deductible

• The amount the healthcare provider billed you

• The amount your insurance paid the healthcare provider

How Health Insurance Deductibles Work 

Your health insurance deductible is the total amount you must pay each year before your health insurance plan pays for covered medical services. Some health insurance plans include essential health benefits, such as checkups, vaccinations, wellness programs and preventive services, before you meet your plan’s annual deductible.  

Depending on your health plan, your health insurance company may not cover 100% of your medical costs, even after you pay the deductible. After you satisfy your plan’s deductible, you may still pay coinsurance or copayments each time you get covered healthcare services.  

How to Get Health Insurance 

Before purchasing coverage, read the plan details to understand your cost-sharing responsibilities. Talk with your agent to understand your healthcare coverage options. 

Contact Jones-Boyd Insurance Agency today for a personalized health insurance quote from a reputable health insurance company.