With the rise in health care costs, the need for insurance is quickly increasing. One accident or illness could cost you several thousand dollars if you don’t have health insurance. Below are four things you should know about health insurance.
There are some things your insurance won’t cover
Some people think their health insurance will cover everything, but the sad truth is there are some things that health insurance doesn’t cover. Some of the things insurance doesn’t cover include the following:
- dental procedures
- cosmetic procedures
- Non-prescription drugs
- Certain pre-existing conditions
- Congenital diseases
- Injuries from war, terrorism, or suicide
Although these are the most common things that are not covered, you should talk to your insurance company to get the full list of what they cover and don’t cover.
Take the time to research your options.
Insurance companies offer different things and have different insurance limits. It is essential to research your options before you purchase your insurance policy.
There will be a waiting period.
Most insurance companies have a waiting period. A waiting period is a certain number of days from when you purchase your policy until you can use your insurance. It is important to check your policy because each company and policy has a different waiting period.
Copays, deductibles, and premiums
Copays, premiums, and deductibles are insurance terms. Each term has its own meaning, which we will explain below.
- Copay: A copay is a small percentage you agree to pay for each claim.
- Premium: The premium is the cost you pay each month for your insurance policy.
- Deductible: The deductible is the amount you have to pay each year before your insurance will kick in to cover the rest.
Contact Busick Insurance Agency
Please stop by or contact us at Busick Insurance Agency LLC for an insurance quote in Orleans, IN.