Definitions
Why do I need Travel Insurance?
We recently talked to someone, without travel insurance, that was charged over $1,000 for a visit to the ship’s doctor on an international cruise. A travel plan would have cost less than $100 for their entire family, but they did not purchase one because they did not want to spend money. We receive a variety…
Read MoreWhat is P & C Insurance?
P & C Insurance stands for Property and Casualty Insurance. This includes policies for needs like home, auto, and umbrella insurance. With rising costs, it may be wise to check your P&C policies to see that you have proper coverage for your property and adequate coverage for liability. Most states require auto insurance to operate…
Read MoreWhat is a co-pay?
Co-pay /ˈkōˌpā/ Noun A contribution made by an insured person toward the cost of medical treatment or other services: US “plans with low premiums are more likely to have high co-pays”. https://www.dictionary.com/browse/copay A co-pay (or copay or co-payment) is a set fee that you pay when you go to your doctor or fill a prescription.…
Read MoreWhat are health plan premiums?
Your premiums paid do NOT go towards your deductible or max out-of-pocket limit.
Read MoreWhat does “max out-of-pocket” mean?
A max out-of-pocket, also referred to as an out-of-pocket maximum, is the most a health insurance policyholder (client) will pay each year for qualified healthcare expenses.
Read MoreWhat is a deductible?
Most health insurance plans have a deductible that designates the amount of money someone must pay before the insurance company (health plan) starts covering some or all of the major expenses.
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