Health Insurance.

What does good insurance look like?

Health insurance should do two things:

1. Cover all kinds of medical care. That includes outpatient treatment, doctor visits, hospitalization, prescription drugs, emergency services, mental-health and substance abuse treatment, laboratory and imaging tests, preventive care, maternity care, and rehabilitation services. You might not need everything now, but sickness and injury can strike at any time.

2. Limit your out-of-pocket exposure. Good insurance should pick up 100 percent of your medical expenses when your out-of-pocket expenses from deductibles and co-insurance hit a certain level in a year—say, $5,000 or $10,000.

Resist the temptation to lower your premium by selecting a plan that omits major benefit categories, such as prescription drugs. Instead, lower your premium by opting for a higher deductible (say $5,000 rather than $2,500), a higher out-of-pocket limit (say $15,000 rather than $10,000), or both. It’s vital protection against financial catastrophe due to high medical bills.

Make sure you understand the plan's details

All insurance plans (except for Medicare plans) must start by providing a standard form, the “Summary of Benefits and Coverage,” that sets out critical plan details such as deductibles, co-insurance and co-pays. If you have a choice of plans, use this form to compare them.

The health insurance experts at Apple Insurance & Financial Services specialize in providing complete health insurance solutions for individuals and groups of all sizes. Call us today for a free consultation.