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 Posted: Fri Dec 05, 2008 7:01 pm Post subject: what does no coinsurance mean |
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| if the annual deductable is $1500 and the services provided say no coinsurance, does that mean the employee pays 100% of everythign every time they go to the dr? |
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pmcgill
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| Posted: Fri Dec 05, 2008 8:29 pm Post subject: |
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It means the insured is responsible for the first $1500 of bills (deductible) and after that, the insurance company pays 100%.
I think a health policy like this is unusual these days. Usually if there is a deductible, there is a co-insurance amount (usually 80%). However, preventive treatment is usually paid at 100% with no deductible on this type of plan. |
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tcope
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| Posted: Sat Dec 06, 2008 8:56 am Post subject: |
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Yup, in health insurance no-coinsurance plan may mean that you are not required to pay any out-of-pocket expense (apart from the said deductible) at the time of need. Normally, these plans charge higher premium than policies with deductibles and co-insurance.
Paying high on such policy may worth if you're in bad health, require constant treatments or are suffering from chronic health problem. It would reduce your out-of-pocket expense. However, if you are of good health, it'd be wise for you to save on the premium by buying a plan with deductible and co-insurance. |
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JeremyHolter
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| Posted: Sat Dec 06, 2008 9:17 am Post subject: |
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| Quote: | | Usually if there is a deductible, there is a co-insurance amount (usually 80%). |
I have heard of no deductible and no-coinsurance plans, but with deductible but no-coinsurance, not that I'm aware of.
Pmcgill, who have told you about this type of policy? And how much you are required to pay for it?
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anonymous-guardian
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| Posted: Sat Dec 06, 2008 3:02 pm Post subject: insurance |
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Health Insurance: It's just getting to the point that NO ONE will beable to afford it. Like everything else, the 'price' of it is just SKYROCKETING!!! Absolutely horrible.  |
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sdchargersfan
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| Posted: Mon Dec 08, 2008 9:08 am Post subject: |
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You are absolutely right SD, the prices of health insurance have beaten the rise in wages and therefore many people were forced to drop their health coverage. Many employers too have decided to abandon the policy of offering group health plans because of the price rise. Small business houses are finding it gradually difficult to offer the benefit of heath policy to their employees. All these are again contributing to the growing population of the uninsured. The situation is grave no doubt  |
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JeremyHolter
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| Posted: Mon Dec 08, 2008 9:30 am Post subject: |
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Well friends, in this trying situation it has become even more necessary to make a wise choice with the health plans to retain the cost of policy within your budget. The following steps can be performed in order to make a well informed decision regarding purchasing the private health plans..
- Draw a budget for the health plans to know how much you can actually afford, and shop around for plans.
- Its better to work with an independent insurance agent or a broker. They can offer you more choices since they don't work for any particular health insurer. They may also help you in comparing the insurance rates and verbiage of the policies.
- Check out with the state's insurance rules, especially the clauses associated with the pre-existing condition. Preventive care and immunization are normally covered under the plans.
- understand the differences between the words HMO, PPO and HSA since these different options will also affect your health insurance costs.
Health care reform has remained a topic of debate and discussion during the presidential election, may be we will soon experience changes in the health care system but till that time we need to do our best to keep the costs at control. |
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jeorge
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| Posted: Tue Dec 09, 2008 7:24 am Post subject: insurance |
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| Hopefully ..the issue, of Health Care costs will change with our new president. GOD KNOWS, the last one din't seem to 'address' the issue of people having NO Health Care and what to do if you DON"T have it..ya know? |
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sdchargersfan
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