4 Misconceptions About Health Insurance

Health insurance should cover medical bills incurred due to an illness. These charges may include medical costs, hospitalization bills, or medical consultation fees.

If you have health insurance, you may become confused by its technicalities. The best thing you should do is call your insurance company and ask them to elaborate on your insurance details. 

To further expand your knowledge about insurance, here are four misconceptions you should be aware of:

1. Any Service Goes Towards Your Deductibles
   Some patients believe that an ER visit and a hospital stay are treated fairly by their insurance company. And regardless of whether it is an outpatient or inpatient hospital stay, they think their insurer considers them all the same. Still, the cost of all medical services they receive may go toward their deductible.
   
   There can also be instances where the insured gets puzzled by the terms used in insurance. After you've met your deductible, you should make payments each time you obtain medical treatment. This is what you call copayments and coinsurance. 
   
   Lastly, the out-of-pocket is the maximum amount you can spend on covered services in a calendar year. The insurance company pays for all covered services in full when you achieve this limit.
   
   
2. Providers That Are Always Part of the Network
   There are parts of your insurance that may not cover a certain condition. If you have health insurance that should cover your labor and delivery, you still won't be exactly sure if the delivery of your baby may be covered too.
   
   So, it is highly encouraged to call your insurer. Then, ask them about your responsibilities in coinsurance and the parts that may not be covered.
   
   
3. Giving Up on Pricey Procedure
   Before you have any expensive medical procedure, your health care professional should give you a good faith estimate of how much the procedure will cost.
   
   Because of hefty deductibles, some people choose to forego medical care. A patient who needs to get an MRI, for example, could be afraid to proceed. They may have to pay for everything with their funds.
   
   
4. Secondary Insurance Coverage Guarantees Debt Payment
   Some patients may be covered by their health insurance and their spouse's or other secondary coverage. This Is known as a carve-out plan. When this occurs, the patient frequently believes they will not be required to pay anything.
   
   However, some secondary insurance policies only cover a patient for the same amount as their primary coverage.

Conclusion
The best way to know about your insurance is to read the terms and conditions carefully. If you still have questions, do not hesitate to reach out to us at Insurance Marketplace, we are happy to clarify any questions you have.

At Insurance Marketplace, Inc,  we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (541) 779-0177. Get your free quote today by CLICKING HERE. Any coverage discussed is not guaranteed. Contact us today to go over your specific needs and we are happy to help you find a policy that works for you and your budget!