You can compare health insurance plans and choose the one that fits your needs. The deductible, coinsurance, in-network providers and out-of-pocket costs will determine how much you will have to pay out-of-pocket. Medicare supplement plans vary in their flexibility. Some will let you choose any doctor you want to see while others are limited to a network of doctors. Also, the amount you pay in premiums will depend on the plan and your personal financial situation.
Indemnity plans may be the most affordable option, but they may have a high deductible or high co-pays. If you are in good health, this may be enough. If you have a medical condition, however, you will likely need to choose a plan with higher deductibles. While it may seem like a hassle to go through the hassle of finding a health insurance policy, it is worth it to have peace of mind and avoid the financial burden of major medical bills.
A common health plan has a deductible, which is the amount you have to pay toward medical bills before the insurance kicks in. Once the deductible is met, the health plan will split the costs with you. For example, your health insurance policy may cover 80% of your medical costs and you’ll have to pay only 20%. This is called coinsurance, and is explained in the glossary. While this terminology may seem confusing, it’s easy to understand when you take the time to read the fine print.
New York State Health Insurance Program (NYSHIP) is the state health insurance plan for SUNY employees. The NYSHIP offers various health insurance plans, including a PPO known as the Empire Plan and several HMOs. Each plan design and specific coverage provisions vary by employee bargaining unit. To apply for coverage, fill out the appropriate enrollment form, which you can receive from your Benefits Office. If you need further assistance, contact your Benefits Office.
Managed care insurance plans require patients to see certain health care providers in a designated network. Out-of-network services cost more and the insurance company may refuse to cover the expense. In addition, many managed care plans require patients to choose a primary care physician. This physician is responsible for coordinating care, making recommendations about treatment and referring patients to specialists if necessary. In contrast, the Preferred Provider Organization (PPO) plan allows patients to select their own health care providers and has lower out-of-network costs.
A health insurance plan pays for medical expenses, including surgery. Choosing a plan can be confusing, and different plans have different rules and requirements. The Affordable Care Act prohibits insurers from denying coverage for preventable illnesses. The Children’s Health Insurance Program also offers health insurance coverage for children, who may qualify under their parents’ plans until they turn 26. And remember, the Affordable Care Act makes it easier to get health insurance for yourself. If you’re looking for a plan that will cover your medical needs, contact your local health insurance agency for more information.