When it comes to health insurance, there’s a lot of confusion surrounding the available types. What makes one different from the other? Which one do you need? Continue reading on to find out what you need to know about each type. Health Maintenance Organization plans (HMO): these are one of the more popular ones. An entire network of providers agrees to offer you its services. The caveat is that you need to have a primary care provider (PCP) who coordinates all of your health care services and any visits to a specialist. If you go out of network, you will incur a fee for that. This plan is good for people who like to see their PCP on a regular

It is in the best interest of your health insurance to ensure that you are healthy. That’s why companies offer certain perks and benefits to help keep your health on track. Depending on your insurance carrier, taking advantage of these perks can even get you discounts on some of your favorite things. Here are some of the things health insurance companies are giving to their members: Money for meeting your walking steps goal – some insurance companies have apps that allow you to set goals and track progress. For reaching or surpassing your goals, you can get gift cards as a reward for taking care of your health. Gym fee reimbursement – even though gyms can be expensive, health insurance

On Tuesday, September 27, 2022, the Centers for Medicare & Medicaid Services (CMS) announced that the monthly premiums, deductibles, and coinsurance for Medicare Part A and Part B are expected to decrease by about $5 (or 3%) in the coming year. This is the first time a cost like this has been lowered in more than a decade. According to Health and Human Services Secretary Xavier Becerra, federal spending on the new Alzheimer’s drug, Aduhelm, will not be as high as initially projected, which has contributed to this pay decrease in premium. Medicare Part B covers things like doctor visits, certain home health services, durable medical equipment, and other medical and health services that are not covered by Medicare Part

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

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

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. Claiming Social Security does not mean Medicare will automatically start. Check your enrollment period so you don’t miss out on important dates! 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. You don’t have to enroll in Medicare just because you turned 65, but you may want to. Check what coverage you