Health Insurance Information for Self Employed People

Question: What is a deductible?
Answer: A deductible is money you have to pay for medical treatment up to a certain amount, at which point the insurance plan begins paying out.

Question: What is an HMO?
Answer: This stands for Health Maintenance Organization. This is a common type of health insurance policy which covers many types of care, including doctor visits, hospital care, therapy, and more. In an HMO, you need to use the doctors and hospitals approved by the HMO.

Question: What does PPO mean??
Answer: Preferred Provider Orgranization. This is a type of medical plan which covers several types of care, but offers more flexibility than an
HMO but at a higher cost.

Question: What is a premium?
Answer: The amount you would pay an insurance provider
in exchange for insurance coverage.

Question: What does copayment mean?
Answer: This is generally a flat fee each time you receive treatment
or prescriptions. For example, you may need to pay $10.00 each
time you visit the doctor or get a perscription, while insurance
covers the rest.

Question: What do covered expenses involve?
Answer: Insurance companies predetermine what is covered under
a given medical plan. The types of things that are covered will
be declared, such as prescriptions, surgery, dental care, mental
health care, etc.