Health insurance terminology can be hard to follow at times, but we’ve broken down the five most important ones to note:

• • Premium – while you pay a monthly bill for your health insurance, the cost of said premium doesn’t necessarily equate to the cost of the health care services.

• • Deductible – this is the out-of-pocket amount you must pay for health care services before your health insurance takes effect. Once you’ve paid your deductible, you still may be required to pay copays or coinsurance until you hit your limit for those payments.

• • Copayment – also known as “copay” is a fixed amount you pay for a service or medication. This is often the way health insurance companies will split the cost with you after you’ve met your deductible.

• • Coinsurance – unlike copay, coinsurance is not a fixed cost. Instead, it’s a percentage of the cost you pay for covered insurance until you reach your out-of-pocket maximum.
    
    
  • Maximum out-of-pocket – this is sometimes called the out-of-pocket limit, which is the most you would ever have to pay for health care services in a year. Every dollar you pay toward your deductible, copayment, or coinsurance counts toward your out-of-pocket limit. Monthly premiums, on the other hand, don’t count.

Having an understanding of these terms will help you make better choices surrounding your health insurance. With the help of Health Plans of America, looking for the right health insurance is hassle-free. Get connected with a licensed insurance agent to find a health care plan that works for you and your budget.

In a society where health and safety are rapidly changing, having Medicare coverage is of the utmost importance. However, Original Medicare does not account for office visits and prescriptions. That is where a Medicare Supplement Plan, also known as Medigap, comes to your aid.

Since most Medigap plans are standardized and can be used with any medical provider who accepts Medicare, having a Medigap plan gives you all the added benefits while staying with the doctor you feel most comfortable with.

There are three ways in which Medigap plan premiums are calculated: issue-age rated, attained-age rated, and community rated. Understanding your needs and options will help you determine which plan and insurance provider to choose. Still have questions and want more information? Health Plans of America does all the hard work for you by offering information and resources to help you make informed decisions. Don’t wait! 

President Lyndon B. Johnson signed Medicare into law some 56 years ago. A lot has changed in that time, and there are some facts that Americans may not be aware of the health insurance program.

1. Claiming Social Security does not mean Medicare will automatically start. Check your enrollment period so you don’t miss out on important dates!
2. Medicare insurance isn’t entirely free. Hospital insurance is covered at no additional cost by Medicare; however, the deductible is $1,364 for each benefit period with a $0 for the first 60 days of a benefit period, but then goes up from there.
3. You don’t have to enroll in Medicare just because you turned 65, but you may want to. Check what coverage you have with your employer so you don’t get a lapse in insurance coverage! 
4. Planning to travel on retirement? Medicare won’t travel with you. Medicare Part A and Part B are not applicable outside of the U.S, so consider getting travel medical insurance, or a Medigap Plan that provides foreign travel emergency health care coverage.
5. Long-term care is not included in Medicare coverage. Long-term care only covers a limited number of days, but if seniors want more coverage, a supplemental plan is needed.
   

With all the information out there it’s hard to know where to start. That’s where Health Plans of America comes in. They do all the hard work for you by offering information and resources to help you make informed decisions. Don’t wait! Connect with a licensed Medicare specialist in your area today.

If you are in an original Medicare program, also known as Medicare Part B, you are entitled to 80 percent coverage of most medical equipment and supplies. You may be wondering what sort of items are included and whether the ones you depend on are on that list. These items include, but are not limited to wheelchairs, artificial limbs, pacemakers, commode chairs, hospital beds, appliances to aid breathing, neck and back braces, oxygen supplies, and more.

To qualify for Medicare coverage, the equipment guidelines are as follows:

• Medically necessary for the insured
• Prescribed by a primary care professional
• Reusable and durable
• Applicable for in-home use

There are a few other things to note about medical equipment – one being that most of it is often rented, you must get it from an approved Medicare supplier, and Medicare does not cover disposable items. 

Want full coverage of medical supplies and equipment? Additional insurance, like Medigap, covers those costs. Health Plans of America can help connect you with a licensed Medicare specialist who will help you make informed decisions about your medicare.

There are several different health insurance plans it gets a little confusing which ones fall under each category. All health insurance plans compliant with the Affordable Care Act, commonly known as Obamacare, are major health insurance plans. 

Here are a few other health insurance plans that you may be familiar with:

• Health insurance for individuals and families
• Employer-based health insurance
• Qualified health plans
• Catastrophic plans
• Government-sponsored health insurance coverage – Medicare, Medicaid, etc.

While most Americans get their health insurance from their employer or union, many people also get it from the government through Medicare or Medicaid. Unfortunately, many individuals are not insured at all. This becomes an even bigger problem because according to Obamacare, everyone is required to have a significant health insurance policy or be subject to a tax penalty for being uninsured. 

Whether purchasing health insurance for the first time or changing your policy, Health Plans of America has the tools and resources to make the insurance buying process hassle-free.

Here at Health Plans of America, we are dedicated to helping Americans find affordable health insurance. Health Plans of America is not a health insurance company. Rather, we are one of the largest and most trusted sources for competitive health insurance quotes. Whether you’re a recent graduate, self-employed, working without coverage, retiring, or just trying to save money, use our website for relevant information about all things health coverage-related.