Understanding The Terminology Associated With Your Health Insurance Policy

When you are looking to acquire a new medical insurance policy it can be challenging to comprehend some of the language that insurance companies use

. A lot of companies will make promises through their agents and internet websites yet, the only thing that you actually need to be concerned with are the policy papers that you sign. This is where you are going to identify the truth about what that health insurance is really going to provide you. While a lot of people know enough about medical insurance to learn about how much the co-pay and deductible is on their policy there are also several alternative points which are written into those policy documents that you really need to grasp before you sign.

One of the biggest issues that can be a stumbling block somewhere down the road is the pre-authorization requirements of a health insurance plan. Any pre-authorization must be read through completely to make certain that you understand what is required of you as the insured. A number of companies use lack of a pre-authorization as an excuse not to pay and most of the times these will be the more substantial circumstances like when you are admitted to a hospital or have to go to the ER. Most insurance companies will only make it possible for you to be seen at a hospital without pre-authorization in cases where you're on your death bed or unconscious when you're admitted. Anything less will very likely not be covered.

Another significant issue that can come into play with your medical insurance is a lifetime maximum benefit. Essentially once you reach that dollar amount in health-related expenditures your insurance will no longer cover you and everything from that point on will be your responsibility. This can be a real issue if you happen to be diagnosed with a significant, long term health issue.

Exclusions and limitations are another set of complications that may be foreseeable if you read through your health insurance policy carefully. Many health insurance companies will exclude treatment of certain illnesses while others will limit the number of visits you can have or even the amount that they will pay for certain health issues.

Keeping these things in mind it's necessary to read through your complete health insurance policy. There is a lot of information contained in those documents that goes well beyond the amount of the co-pay and your deductible and not reading can cost you a lot of money.

by: Ethan Kalvin

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