Friday, February 29, 2008

Learn to Speak the Secret Language of Your Health Insurance Agent

Learn to Speak the Secret Language of Your Health Insurance Agent

Have you ever felt like your insurance agent is speaking another
language? I have heard a number of times that people are more confused after a meeting with their Arizona health agent than before. To better understand what your choices are in the world of health insurance you need to know what your insurance agent is saying to you. Below is a list of terms that will give you more clarity when meeting with your Arizona insurance professional.

Premium: Your monthly, quarterly, or annual payment for insurance coverage.

Deductible: The pre-set amount of money that needs to be paid before a medical bill will be paid by the insurance company. Deductible amounts vary and is outlined in your policy.

Coinsurance: Generally in any insurance claim after you pay your deductible the insurance company pays a percentage of the bill. Usually the insurance company pays 80% and you pay the remaining 20%. You would see this in your policy as an 80/20 coinsurance.

Maximum Out-of-Pocket: The maximum out of pocket cost that you would pay after your deductible and coinsurance. The maximum out of pocket cost vary from each insurance company.

Co-payment: A small payment to see your family doctor or emergency room visit.

Covered Expenses: The items or services that the insurance company would pay for in the event of an occurrence. Most insurance companies do have limitations on what their policy will cover. Be sure to review your outline of benefits to see what is included in your plan.

Exclusions: Specific items that are not covered in your insurance policy.

Preexisting Condition: A health problem that occurred before you had insurance coverage.

Waiting Period: The set amount of time before a preexisting condition will be covered by your insurance company. The waiting periods vary between insurance companies.

Provider: A doctor, hospital or any other medical professional


Network: A group of doctors and hospitals that have a contract with an insurance company.

Out-of-Network: Any doctor or hospital that is not contracted with the insurance company. Usually, if you see a doctor or go to a hospital that is not within your network the insurance company will pay a different amount. Generally, your deductible is increased and the coinsurance may change from 80/20 to 60/40 or even 50/50.


About the Author: Matt Irons is dedicated to the well being of his clients, by providing peace of mind and helping them find quality Arizona health insurance at an affordable price. He cares by giving honest answers and advice to solve your health insurance needs.

Contact: Matt Irons
Email: matt@ironsfamilyinsurance.com
Phone: 602-573-4198---FAX: 623-691-8033
http://www.ironsfamilyinsurance.com/

5 Ways To Save Money On Your Arizona Health Insurance

Matt Irons Gives You 5 Tips to Save Money on Your Arizona Health Insurance

There are affordable health plans in Arizona, you just need to know what they are and how to find them. Using a good professional, like Matt Irons, will help you. Here are a 5 ways to save money on your health insurance:

1. Use an independent health insurance broker. An independent health insurance broker, like Matt Irons, is someone who is dedicated to the customer, not employed by a specific company, but represents a variety of insurance carriers. The advantage of using a broker is that they can shop the best deals around without sacrificing benefits. Health brokers are a lot like a mortgage brokers who shop the banks for the best interest rates, saving you money.

2. Review your usage of your current Arizona health insurance plan. In other words, see what benefits you are using and how often. For example, doctor’s office visits. How often are you going to the doctor each year? Most people only go to the doctor once or twice. A lot of times the plan they have include “unlimited” office visits with a co-pay. If you choose a plan that allows you to go with a “set” number of co-pay visits per year (like 4 or 5) you can save about 20% or more per month, saving you hundreds per year.

3. Increase your deductible. By increasing your deductible you are not changing the initial benefits of your Arizona health plan. You still get your doctor’s office co-pays, your prescription card, and ER co-pays. The only time you use the deductible is for large claim situations like, going to the hospital for surgery, having an outpatient procedure, or costly tests.

4. Don’t Smoke, if you do QUIT!!! By being a non-smoker you are saving money already. For those of you that are smokers, you are adding to your premium a least another $30 dollars or more a month.

5. Remove the bells and whistles. This kind of goes back to the second tip, but goes a little further. If you hardly ever go to the doctor why even pay for that benefit each and every month. Just pay for the visit out-of-pocket when it happens. If you are using a doctor within your PPO network you will experience a reprised amount anyway. For example, generally an Arizona primary care doctor visit is about $80, when it gets reprised because of the PPO you will only pay about $55, generally speaking. These types of plans are usually called Catastrophic Plans. Another type of plan that is gaining in popularity is called the HSA Plan. These types of plans are saving people a lot of money each and every month and providing another way to save on their income taxes each year.

About Matt Irons and Irons Family Insurance: Matt Irons is dedicated to the well being of his clients, by providing peace of mind and helping them find quality Arizona health insurance at an affordable price. He cares by giving honest answers and advise to solve your health insurance needs.

Contact: Matt Irons
Email: matt@ironsfamilyinsurance.com
Phone: 602-573-4198
FAX: 623-691-8033
www.ironsfamilyinsurance.com