Health Insurance Basics

Understanding the difference between premiums and deductibles is a key part of choosing the right health insurance plan. Premiums are the amount you pay each month for coverage, while deductibles are the amount of money you'll have to pay out-of-pocket before your insurance company begins paying. Depending on your individual needs, it may be worth considering plans with higher premiums and lower deductibles or lower premiums and higher deductibles. Coverage Guru can help compare health insurance quotes so that you make an informed choice without sacrificing quality or value.

It is important to understand how coinsurance works, as it can impact the cost of your healthcare. Coinsurance counts toward your out-of-pocket maximum, which is a limit on how much you have to pay for covered healthcare expenses in any given year. Once you reach this limit, your insurance will typically begin to cover 100% of the cost of services or medications going forward until the end of the plan year. Knowing about coinsurance and out-of-pocket maximums can help you better budget for medical costs and ensure that you have access to quality health care when needed.

Knowing the open enrollment period is important for anyone looking to purchase health insurance. It is during this period that you can shop around for the best plan that fits your needs, as well as any special enrollment periods if necessary. Open enrollment also grants access to certain plans at a special rate or with additional coverage options available. Finally, open enrollment lets you take advantage of government subsidies when purchasing a health plan. It’s important to note that most plans will not allow for changes outside of their designated open enrollment period.

Learning more about short term health insurance is important because it can provide coverage during gaps in health care coverage. It's often used to supplement existing insurance plans, such as when a person quits their job and needs to wait for their new benefits to take effect. Short term plans can also be used for specific circumstances such as travel, pregnancy or other health issues. Understanding how these types of plans work can help you decide if one is right for your individual needs.

Missed the Open Enrollment Period this year? You don't have to wait until next year if you're eligible for Special Enrollment which offers more flexibility!

Knowing the open enrollment period is important for anyone looking to purchase health insurance. It is during this period that you can shop around for the best plan that fits your needs, as well as any special enrollment periods if necessary. Open enrollment also grants access to certain plans at a special rate or with additional coverage options available. Finally, open enrollment lets you take advantage of government subsidies when purchasing a health plan. It’s important to note that most plans will not allow for changes outside of their designated open enrollment period.

There are many different ways to get health insurance coverage, the most common of which is through an employer-sponsored plan. Other options such as private network plans, marketplace plans, and government-sponsored plans are also available. Here are the details on each of those options.

Different types of health insurance plans cover different things and have varying costs associated with them. Here is a breakdown between the different types of plans from ACA plans (which include EPO, HMO, PPO, and POS) to non-major medical plans (short-term, GAP, accident, and critical illness).

A brief description of what health insurance is and how it works to keep your medical expenses down by covering the majority of your hospital bills for a low monthly payment.

We explain the different costs associated with having a health insurance plan including your monthly premium and the out-of-pocket costs you'll need to pay when you use medical services.