Definitions
What is accident insurance?
Accident insurance is a health insurance policy that pays a policy owner set amounts or a lump sum because of a covered accident.
Read MoreWhy 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?
A health plan premium is the amount of money that you pay each month for your health insurance plan. The rates should not change for the length of the plan, but some plans are set to change premium after a specified amount of time.
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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