What You Need to Know About Health Insurance in Dover DE

by | Apr 4, 2014 | Insurance

Health insurance Dover DE has recently gotten a great deal of attention. The cost of medical care is constantly on the rise and it can be a big mistake going without coverage. You may feel healthy today, but things can change at anytime. You could pay thousands of dollars for a short stay in the hospital. Health insurance is designed to help you pay for some of the costs of medical care.

There are terms that you should get familiar with regarding health insurance. A premium is the small fee you pay each month in return for reimbursement. Premiums are not the same for every policy holder. They can be based on a variety of factor like your age, current health condition, and even your credit score. A deductible is the amount you must pay out of pocket before the provider honors the claim. This means if you have an operation and it cost $5,000, you may have to pay $1,000 and the provider will pay the rest. A co-payment is another means of sharing the cost. This is a fee you pay when you visit the doctor. Another term you should know is exclusions. Exclusions refer to conditions which will not be covered in the policy.

It also helps to know about the different kind of health insurance Dover DE providers. A traditional insure often has a ‘branded’ image. These companies may be know as accident and health providers or accident and sickness providers. Health Maintenance Organizations are a popular choice among consumers. An HMO provides health care base don a pre-paid model that focuses on preventative care. It is made up of a network of doctors who offer certain services at a pre-set cost. However, you do not get as much flexibility in choosing doctors. Other types of providers include domestic and foreign. A company is domestic when they operate in their own state and foreign if they operate in many states.

This information should help you better understand health insurance and its purpose. It is best not waiting until you get sick before you buy a policy. You may thank yourself one day for taking the time to get health coverage. Atlantic Smith Cropper & Deeley has a plan to fit every need.

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