Commonly Asked Healthcare Insurance Questions What is a deductible? It is a specific dollar amount that an individual must pay (or "satisfy") before reimbursement for expenses begins. The higher the deductible, the lower the cost of the health insurance plan. What type of plans are available for individuals in my state? A health maintenance organization (HMO) is an organization that provides comprehensive health care to a voluntarily enrolled population at a predetermined price. Members pay fixed, periodic fees directly to the HMO and in return receive health care services as often as needed. A preferred provider organization (PPO) is an association that contracts with a group of doctors, dentists, hospitals or other health care service providers to provide care at prearranged rates or discounts. Once I apply will I automatically be accepted? No. The insurance company will underwrite you and your family to look for medical risk/concerns. They will then either accept you, decline you, or rate up your premiums (to off set their added risk). How soon will I be insured? You are able to request a policy to start between 1 and 90 days in the future. It is important to be aware that the underwriting process does take time. What is a covered expense and are there limits? A covered expense is an eligible expense under a group health insurance plan. A covered expense is an expense incurred by a covered individual that will be reimbursed in whole or in part under the group health insurance plan. For example, under most health insurance plans, doctors' visits are a covered expense. That is, a doctor's fee up to the amount provided by the plan will be reimbursed by the insurer Just because an expense is covered does not mean that the coverage is unlimited. Both base plus and comprehensive plans have limits on the expenses for which they will reimburse. In addition, some form of deductible and coinsurance is often applicable. Insurers limit covered expenses in a variety of ways. One way is to cap allowable payments for a certain procedure or service. A common example of this type of limit would be a surgical schedule. Insurers also restrict covered expenses by limiting the number of visits or days for home health care or skilled nursing care, or by establishing a reasonable and customary charge. How can I lower my costs? The most common way of lowering monthly medical premiums is to take a higher deductible or co-payments. By having a slightly higher out of pocket expense, most customers can drastically reduce their insurance premiums. Is it important to have continuous coverage? Yes. Do not terminate an existing medical policy until you have been approved for your new policy. What if I have a group to insure? At QuicklyQuoteMe we can sell you Individual or Group Medical Policies. Contact us directly to discuss your specific situation. Does QuicklyQuoteMe protect their customer’s private information? Yes, we will never sell/trade or give away any information and neither will any of the reputable insurance companies we work with! What if I have children in college? Many Insurance companies will cover children in college as long as they are full time until age 24, but check with a QuicklyQuoteMe specialist to confirm your specific states regulations. How will I make payments? Payments are made via Credit Card at the end of the application or by personal check for the amount of the first month’s premium. Your credit card will not be charged, nor your check cashed, until your policy has been approved. In some instances a company might charge you a first months premium before they will process the applications. If in that situation you are declined or decide against the coverage you will get your money refunded. Are you required to buy after filling out an application? No. After filling out the application you may cancel your request at anytime. Your Credit Card or Personal Check will not be debited until your application has been approved. Does your company get the best rates? All health insurance rates are regulated by the Commissioner of Insurance for each state. So all brokers sell the same policies for the same prices. At QuicklyQuoteMe we feel we provide you with an easy insurance buying opportunity instead of a high pressured sale. |