In honor of International Creativity Month, let us start your fresh new year with a creative way of looking at healthcare definitions. Here are some ways to look at how they might relate to our daily lives.
What does a plan deductible mean? Some healthcare services, such as lab work, will require you to pay toward the plan deductible before services are covered. Think about the coffee at your local coffee shop. You pay in advance for that coffee before it is brewed and given to you.
Why is my copay different depending on services received? A copay is a set amount you pay based on services received. An emergency room visit may have a higher copay then going to urgent care. Think of your coffee purchase at a local convenience store. It may be less expensive than the coffee you receive at your local coffee shop.
Should I monitor my maximum out-of-pocket expenses? You should be aware of your plan’s maximum out-of-pocket cap. Expect to have coinsurance until you reach your maximum out-of-pocket limit. Unlike your coffee shop gift card, once you have met your maximum out-of-pocket expense, coinsurance no longer applies.
Your health plan sends an explanation of benefit recaps on how much was paid to providers and how much you might expect to pay for services. Just like the receipt you receive for your coffee purchase, review this recap so you know what you are paying for. Grab your favorite beverage and call or email us so we can assist in your fresh start to the new year.