Public Health Insurance Option

Just like any other financial services professional, a health insurance agent can save you a lot of money if you find the right one. Choosing health insurance can be stressful and overwhelming. You may have had health insurance through your previous employer and are shopping for health insurance for the first time. Don’t shop alone; get help from a trusted agent or broker. Finding the right agent may be a tiresome process itself.

If you are searching online for health insurance and submit any of your personal information, you may have several different agents contact you. This may be slightly annoying, however it allows you to shop for the best policy and get different agent’s perspectives on health insurance. The health insurance agent’s responsibility is to help you determine your needs, explain the best plans to fit your needs, and help you choose the plan that best meets your needs. It is important that your health insurance agent obtains the most accurate health insurance information in order to be able to qualify you for health insurance.

During your search for a health insurance agent, you should check with your state’s Department of Insurance to find out if the prospective agent is licensed to sell health insurance in your state. You also want to find out if the agent is in good standing with the Department of Insurance. You will probably also want to ask the prospective agent for references or testimonials from other clients.

You should have a basic understanding of health insurance terms or ask your health insurance agent to clarify specific terms that you may not understand. See the terms listed below.

Deductible

The amount a customer pays toward covered expenses before the plan pays benefits.

Office Copay

Office Copay is a benefit that allows you to pay only a set dollar amount for eligible physician office visit services. This option may not always be available.

Coinsurance Percentage

Coinsurance percentage refers to the amount of covered expenses you pay after the deductible. You usually share the cost of covered expenses with the insurer.

Coinsurance Out-of-Pocket

Coinsurance is the percentage of covered expenses the plan pays after you meet the deductible. After the Out-of-Pocket maximum is met, the plan pays 100% of covered expenses.

Lifetime Maximum

How much of the total lifetime benefit of the policy per person is covered by the policy.

Annual Maximum

The amount of benefit paid per person covered on the policy during the calendar year after the insured has satisfied all out-of-pocket expenses. This option may not be available with all plan types.

Learn more about health insurance agents. Stop by Jeff Braid’s site where you can find out all about health insurance concepts.