Coverage especially for you.
Through the Instant Quote button, you can view options in Maryland, Delaware, Pennsylvania and Virginia. But, please don’t stop there. We are happy to help you via phone or email at 800.884.0386 or YourHealth@myAmCare.com.
We don’t think finding a good health insurance plan should be confusing. Here are a couple of things to keep in mind as you search for a plan that meets your needs.
Preventive Care Services
Preventive Care Services have been defined by the Federal Government and are included in every health plan at NO COST to the member. These services are listed here: What are my preventive care benefits? You should not pay a cent for any of these services, but you will need to remind your provider that they should be billed to the insurance company as Preventive Care.
Deductible Level
The deductible is the amount you must satisfy each year before your health plan really “kicks in.” The deductibles on an individual plan typically range from $0 to $5,000. If you are basically healthy and use the doctor primarily for preventive care services, a high-deductible option might work best for you. If you are under treatment for a medical condition or take regular prescription medications, a lower deductible option may be better for you.
Coinsurance
Coinsurance is the percentage of costs you pay for medical services AFTER your plan deductible is met. Plans with 100% coinsurance offer the best coverage, because once you meet your plan deductible, the insurance covers 100% of medical services costs, exclusive of co-pays. Many plans offer 80% or 90% coinsurance, so you are responsible for 20% or 10% of all medical bills even after your deductible has been met.
- Example: Plan with a $1,400 deductible and 20% coinsurance. You fully satisfy the $1,400 deductible and then go to the doctor’s because you have strep throat. The doctor bills the insurance company $100 for the visit. The insurance company pays $80; you pay the remaining $20.
Copayments
While coinsurance applies to every medical service cost you incur after meeting your plan deductible, copays are flat $ amounts set by the insurance company for particular services. Once your plan deductible is satisfied for the plan year, you may pay $20 to see your doctor for a sick visit or $30 at the urgent care center for a sprained ankle. Copayments are always listed in your plan’s benefit summary and only “kick in” once your medical plan deductible has been satisfied.
Out of Pocket Maximums
Think of the Out of Pocket Maximum as the most you will pay in one policy year. Deductibles, Co-payments and Coinsurance all accumulate to reach your Out of Pocket Maximum.
Health Savings Accounts (H.S.A.)
Health Savings Accounts (HSA's) work in conjunction with a Qualified High-Deductible Health Plans and offer an easy way to pay for deductible and other medical expenses. If you enroll in a HSA compatible health plan (individual plan deductible must be at least $1,300 in 2016), you may open a tax-deductible, interest-accumulating Health Savings Account. You deposit tax-deductible money into the HSA and use that money to pay for any "Qualified Medical Expense" which could be your deductible, co-payments or other qualified medical costs. If you don’t use the money in your HSA one year, it rolls over to the next year, all while accumulating interest and shielded from taxes. Think of an HSA like an IRA that is for medical expenses, except there is no tax when using the funds for Qualified Medical Expenses. Many people prefer to us an HSA instead of an IRA when choosing between the two for retirement as the HSA can be used both for income and for Qualified Medcial Expenses. Please ask us about the many advantages of Health Savings Accounts.
Monthly Premium
Your monthly premium is tied to your deductible level. Plans with low deductibles tend to have higher monthly premiums. Plans with high deductibles tend to have lower monthly premiums. You’ll want to find that happy balance so you can a) meet your plan deductible if necessary and b) afford to pay your monthly premium costs.