Health Insurance Guidelines

Health insurance can protect you from medical bankruptcy. It will help pay for medical expenses. It will cover both planned procedures and emergency procedures. When you use health insurance you will still be responsible for copayments and co-insurance, although the insurance should cover the majority of your expenses. Finding an insurance policy should be a matter of balancing the cost with the right amount of coverage.

Applying for Health Insurance

• There are several different options when it comes to health insurance. You can get health insurance through your work or you can purchase a plan yourself. You will need to apply for health insurance coverage. If you choose an independent insurance company, you may be required to have a physical and to fill out a medical history form. This form is used to determine if the company wants to insure you. It can take up to 60 days to be approved for new insurance, and you should begin the process as soon as you know you need insurance.

Using Health Insurance

• Once you have been approved for health insurance, you will need to pay a monthly premium to the insurance company to retain coverage. If you get your insurance through work, this amount will be deducted from your paycheck, and your employer might cover part of the cost. You will receive an insurance card, which you need to give to your doctor when you visit. The card should list the amount you need to pay when you visit the doctor. You should also receive a book or access to a website that lists the doctors that are covered by your plan.

Out-of-Pocket Costs

• When you use health insurance you will be responsible for any out-of-pocket costs you incur. A copayment is that amount you must pay each time you go to the doctor's office or visit the emergency room. Co-insurance is the amount you must pay when you have a procedure done or you are hospitalized. Co-insurance is usually a percentage of the final bill. Insurance companies generally work out a deal with the doctors or hospitals to reduce the amount they charge for procedures and tests.

Disputing Denied Claims

• Insurance may choose to deny your health insurance claim. When that happens you are fully responsible for the entire amount of the bill. For most planned procedures you will need to have pre-approval from the insurance company. This will prevent you from paying for uncovered costs. To dispute an incorrect bill you will need to contact your insurance company. To dispute something they will not pay, you will need to provide documentation proving that it is medically necessary.