The average American spends more than $10,000 per year for medical care. That’s a cost that no family should have to worry about affording. The right health insurance plan will pay for some or all the costs of an insured individual’s health care and reduce the financial burden on the policyholder.

Your benefits can pay for numerous types of medical needs including:

• Physician services
• Inpatient hospital treatment and surgeries
• Laboratory & imaging tests
• Vaccinations and health screenings
• Other clinical care & rehabilitation costs
• Prescription drugs

Many plans also offer vision and dental coverage for both adults and children.

There are many types of plans offered by numerous major insurers. These include:

• Health Maintenance Organizations (HMOs)
• Preferred Provider Organizations (PPOs)
• Point-of-Service Plans (POS)
• Fee-for-Service Plans (Traditional Indemnity)
• Group Health Benefits
• Supplemental Health Plan Benefits
• Catastrophic Plans
• Short-Term Benefits

Plans will lay out specific terms and conditions that define when and how much they will pay for different services. When you visit a doctor or physician network that accepts your insurance plan, your provider will first bill your insurer for the costs of your care. After the insurer pays its share, you will pay for any outstanding costs.

Some of your out-of-pocket obligations might include:

• Deductibles
• Copayments
• Coinsurance

Different services have different cost-sharing requirements. Plus, in many cases, you can receive covered care even if you have not paid off the value of your deductible. You can generally receive certain preventive care, such as vaccines, at no cost.

One individual only needs one health insurance plan. However, some individuals choose to enhance their health insurance policy by buying a supplemental expenses plan. This coverage can pay for costs beyond what your standard medical plan will pay.

Additionally, many families choose to enroll in group health plans, under which all family members can receive coverage. It is often cheaper to enroll multiple family members in a group plan, and all members of your household will have the same general benefits.

All health insurance premiums will vary, however, your insurer cannot charge you more or deny your application because you have a pre-existing condition.

Individuals who choose to enroll in a health plan that meet federal Affordable Care Act (ACA) standards might also qualify for tax credits, reduced premiums and lowered deductibles. You must meet certain income requirements to qualify, however.

Most health insurers only allow new applicants to buy plans during an annual open enrollment period. Most plans last from around Nov. 1 – Dec. 15 each year, and new plans usually take effect on January 1st.

Some people qualify to enroll outside open enrollment if they have qualifying life events. Getting married, losing employer-provided benefits and other changes might grant you this special enrollment period (SEP). Speak to one of our agents to learn more about your qualifications for enrolling.