Archive for July, 2009
Assurant Health
About Assurant Health Assurant Health has been in business since 1892 and is the brand name for products underwritten and issued by Time Insurance Company, John Alden Life Insurance Company and Union Security Insurance Company. Together, these three underwriting companies provide health insurance coverage for
Aetna Michigan Health Insurance
Aetna is one of the nation’s leading diversified health care benefits companies, serving members with information and resources to help them make better informed decisions about their health care. Aetna health insurance in Michigan offers a broad range of traditional and consumer-directed health insurance products
What is a Health Savings Account?
Michigan Health Savings Accounts are a financial tools with a High Deductible Michigan Health Insurance Plan designed to help make your healthcare more affordable and give you control over how your healthcare dollars are sent. Typically once you reach your deductible the insurance company pays
What is managed care?
Managed care is a form of health insurance that stresses preventive medicine and affordability. In a HMO managed care plan, you typically choose a Primary Care Physician who is responsible for approving specialist and hospital care. Managed care was originally introduced as a way to
What’s an out-of-pocket expense?
An out-of-pocket expense is any cost you have to pay yourself when receiving medical care. This includes your deductible, co-payments, and coinsurance. Most Michigan health insurance policies have an annual maximum out-of-pocket expense. Once you’ve reached your maximum out of pocket in a calendar year,
What is coinsurance?
Coinsurance is an amount of the cost of a Michigan medical service that you are responsible for paying. Unlike a co-payment, which is a fixed-dollar amount, coinsurance is expressed as a percentage. For example, many insurance plans have 20% coinsurance of the next 10,000 after
What is a health insurance co-payment?
A co-payment is a fixed-dollar amount that you are responsible for paying for a particular medical service. For example, many plans have $35 co-payments for doctor’s visits. This means it only costs you $35 to see a doctor. Most individual Michigan health insurance plans offer
What is a health insurance deductible?
A deductible is an amount of medical expenses you are responsible for paying before your Michigan insurance starts covering you. A common deductible is $500 this means you would be responsible for paying the first $500 in medical bills before receiving coverage. Having a higher
What is an insurance premium?
A premium is the monthly cost of keeping your insurance policy in effect. Michigan health insurance premiums are determined by a variety of factors, including your medical history, your lifestyle, and your current health status.
Frequently asked Questions about Health Insurance
What is a premium? What is a deductible? What is a co-payment? What is coinsurance? What’s an out-of-pocket expense? What is managed care? What is a Health Savings Account?
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