• Post last modified:October 5, 2020
  • Post category:health insurance

Your young, fresh out of college and ready to start the next chapter in your life….and then you get the lecture: Start shopping health insurance.

Ok. Fair enough. How hard can it be??

This is what several recent college grads have expressed to Us. What is the importance, Why have it and what does that  ”Insurance Jargon” actually mean?

Let’s take a look at some terminology you may cross:

  • Deductible: The deductible refers to the amount of money that the insured would need to pay before any benefits from the health insurance policy can be used.
  • Co-insurance: This is the amount that would need to be paid by the insured before the insurance pays and in addition to the deductible.
  • Co-payments: This is another term used for, or in place of, coinsurance.
  • Out-of-Pocket: This is the cost one would pay out of their own pocket. An out of pocket expense can refer to how much the co-payment, coinsurance, or deductible is.
  • Lifetime Maximum: This is the most amount of money the health insurance policy will pay for the entire life.
  • Exclusions: The exclusions are the things that the insurance policy will not cover.
  • Pre-existing Conditions: This is something someone had before obtaining the insurance policy.
  • Now that we have these covered, why is it important?

    A couple huge reasons:

    1. Health Insurance can protect you from the risk of unexpected health care costs. In a recent article from Kaycircle.com, “ The average cost of a visit to the emergency room in 2010 was $1078. For people ranging in age from 45 to 64 years old, the cost was upwards of $1576.” Now imagine that under unfortunate circumstance, that the visit is longer or more complex.  Many Americans cannot afford such an unexpected bill during these tough economic times.

    2. With out it, you may not be able to afford expensive medical services.  Even the smallest exams, whether it be screenings or regular check-ups, simply add up.  Without the annual suggested screenings, many people may miss the warning signs to something more serious down the road in the future.

    3. Health insurance can get you better quality of care than you would normally get on your own.  This again has to do with the fact that when we are NOT covered, we simply do not attend ALL of the suggested screenings and appointments for us. 

    Here at Paradiso Insurance, We understand that health insurance in general is a difficult and confusing topic.  With questions like, what type of insurance is right, how much can I afford and what is covered under my potential plan, where do you start?

    Paradiso Insurance is here if you need us. Our door is ALWAYS open.