Because health care has been in the news so much lately, it’s not a surprise that so many people are confused about how it works. It can be confusing. But on the positive side, Michigan health insurance offers consumers coverage they may not have ever dreamed of and the Affordable Care Act makes it within reach for Americans who couldn’t pay for it in the past.
For that reason, though, many Americans may not understand how this complicated system works. So here are a few helpful explanations to start you on the process of getting Michigan health insurance from https://insurancequote.deals/michigan-health-insurance-quotes.
Consumers share costs with insurers
In general, under any health insurance plan you must pay monthly premium as well as your share of medical costs on services covered by the insurance policy. A monthly premium is simply what you pay to get insurance. Your share of medical costs on covered medical services is called a co-payment.
After you meet your annual deductible, your insurance plan is in full force to handle all covered expenses. A deductible is a fixed amount –let’s say $4,000—and you will pay all medical expenses up to that point. Then, your Michigan health insurance is applied and begins to pay their portion.
A deductible must be met every policy period, which is usually a year but doesn’t have to be a calendar year. You should find out what your policy period is to be sure you know the details of your benefits.
An insurance company decides what health-related services it will cover and how much of the fee it will cover. You are responsible for the rest.
Use in-network providers
Most Michigan health insurance companies have their own network of health care providers that prefer you to use, including physicians, clinics and hospitals. It may also include physical therapy providers. They will reimburse more of the cost of in network care than they will if you do not use their list. In fact, some insurers do not cover out of network services at all. Make sure you know the requirement of your policy.
More than one patient has been shocked to find themselves on the hook for an entire procedure because they used an out of network provider. Today, though, it is not uncommon to find a requirement for prior authorization, preventing such surprises.
Many policies have a prescription drug benefit that is helpful if you take regular medications.