When it comes to choosing health insurance, it can be very confusing. With so much information, trying to compare policies is enough to make your head spin. Before you can make sure you are comparing apples and apples, you have to understand some health insurance terms. You can’t make an educated choice without the correct information. Having an insurance agent that you trust makes the whole process much easier. If you live in Chicago, IL, Arial Insurance Group is an independent insurance agency with an experienced team. They will help you get through the process of choosing health insurance that gives you the coverage you need at a price you can afford.
Network
If you have your own doctors, one of the first things you should do when looking at an insurance carrier is to check their network to make sure your doctors participate in that network. Every insurance carrier makes deals with groups of doctors and medical professionals. They negotiate the rates. These are the doctors and hospitals you will need to use with that carrier.
High deductible
A high deductible is an amount you must pay for covered services before the insurance policy begins to pay. With high deductible policies, this usually starts at around $5000.
Formulary
The formulary is the listing of drugs that are covered under the prescription plan that you are choosing. Checking to make sure your drugs are on the list and how much each refill will cost is important information for you to know.
When it is that time of year again, when you renew or look for new healthcare coverage, give us a call at Arial Insurance Group in Chicago, IL. We will help you get the health coverage you need. Call our office to set up an appointment or to ask us any questions you may have.
