|Florida Health Insurance Information
|Are you just moving to Florida, coming of Cobra or Shopping your health insurance rate day)
Some policies offer a 'limited' amount per day as well as a cap. There are basic medical
policies and major medical policies. The basic medical policies are limited to coverage and
also limited to the amount they pay per year or per procedure. Major medical policies will
policy you have!
care would be your annual physical, blood work and any health maintenance tests that are
scheduled to do by your doctor for your age. Health insurance policies are structured by
Most major medical policies cover your preventative care for free every year. Preventative
your deductible, your coinsurance and co pays if applicable . How this works is you have to
meet your deductible dollar amount before your coinsurance will start paying. For example, If
you get a medical bill for $1500 and your deductible is $500 your health insurance policies
coinsurance would pay a portion of the remaining $1000. Your coinsurance will pay after the
deductible is met. Coinsurance is the percentage of the bill you and your health insurance
company will split the bill. The most common coinsurance's are 80/20, 70/30 and 100/0.
What this means is your insurance will pay the first portion 80 percent and you will pay 20
percent. Just like the example earlier you have met your $500 deductible now there is $1000
remaining of that bill right. Your company will pay 80% of that or $800 and you will pay 20%
or $200. If you had 100/0 coinsurance your policy would pay the whole amount of the bill
after your deductible was met. In fact your coinsurance also caps at a certain amount and
after you have met the cap amount your policy will pay 100% of the medicals you have in
that calender year.
Keep in mind the differences between HMO's and PPO health insurance providers. A H.M.O
is a health maintenance organisation you have to go to the primary care physician that is
appointed by this network. Basically, you have a limited choice of doctors to chose from. The
PPO preferred provider organisation is accepted nationwide. However in a PPO you have a
lot larger network and can choose your doctor but not all doctors will give you the 'full'
discounted price. All doctors take but some you may have to pay the out of network
percentage. For example an in network doctor may pay allow your insurance a 80% discount
on you bill but an ''out of network'' doctor may only allow a 50% discount on the bill. Either
way your insurance will help you with your medical costs but you as a consumer should do
your do diligence to make sure your doctor or hospital is a in network provider. Most cases
your doctor will accept your in network charges.