Health Insurance

There are more health insurance options than you may think…

For many people, there seem to be no decent options available for health insurance. Some are too expensive and others hardly cover anything. There is no one-size-fits-all option for health insurance, but there is most-likely a plan out there that is best for you. Common health insurance options people may have available are group health insurance, COBRA, Christian health ministries, ACA/Obamacare, and short-term medical insurance. Contact Kraft Insurance Services today to learn about all of your health insurance options.

What do all of those words mean?

When you’re looking at your health insurance policy, there are a lot of numbers by a lot of unfamiliar words. Here are some of the most common types of coverages you’ll find in a health insurance policy:

Deductible Limits– The amount of money that must be paid before the insurance company will pay a covered claim.

Coinsurance– After the deductible is met, the insured will pay a percentage of the payment made against a claim. For example, 80/20 coinsurance on a $1000 bill would obligate the insured to pay $200, and the insurance company would pay $800.

CoPayment– Often called a copay, a copayment is a flat amount paid for a covered service.

Out-of-Pocket-Maximum– The most an insured will typically pay for covered services in the plan term. The maximum-out-of-pocket limit can usually be calculated by adding the deductible and coinsurance limits.

Effective Date– The date in which coverage goes into effect.

ACA-Compliant Coverage– Plans outlined by the Affordable Care Act, often referred to as Obamacare, which covers 10 “minimally-essential coverages”. So of these coverages include pre-existing conditions, maternity, preventive care, and pediatric dental.

Pre-existing Conditions– A medical condition, whether diagnosed or advised for a diagnostic test, which started before a person’s health insurance coverage began. On non-ACA-compliant plans, pre-existing conditions may not be covered.

Preferred Provider Organization (PPO)– This type of plan usually has the least restrictive network. Generally, out of network services are covered, though the cost might not be as favorable. For example, if an in-network deductible is $1000, an out-of-network deductible might be $3000.

Exclusive Provider Organization (EPO)– This type of plan is considered a hybrid between a PPO and HMO. EPO plans usually do not require a coordination through a primary care physician (gatekeeper). Generally, out-of-network services are not covered, except for emergencies.

Health Maintenance Organization (HMO)– This type of plan usually has the most restrictive network of providers. Care must be coordinated through a primary care physician (gatekeeper). Generally, out-of-network services are not covered.

Obviously, there might be different coverages needed for each person. Health insurance needs are unique to each individual person. However, Kraft Insurance Services can get you an individualized quote on health insurance today.

Better insurance starts here.

Kraft Insurance Services

2701 Bird Ave.

Joplin, MO 64804