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Understanding Individual Health Insurance Charges

The perfect health care plan will aim to achieve access to the best care available for the least cost. However, even if the health care plan is made as affordable as can be, this does not mean that someone does not have to pay for other cost. Even with the best plan in the health care realm, one has to take care of some of the costs of the health insurance coverage. It is only wise that one should know what type of costs to expect when looking for the viable plan before they get themselves into costs they are not able to pay for.

The first and main cost one has to incur is the premium. This is the cost someone has to be responsible for in order to keep the health insurance plan they opted for running. The price that you see when shopping around for a satisfactory plan is always the base price for the plan payable on a monthly basis. This could be altered due to many factors e.g. the status of your health or your age. For people who the insurance companies deem to be less risky e.g. healthy persons leading healthy lifestyles are accorded better and more affordable insurance premiums. They term this as rating.

Coinsurance and Copayments are essentially the specific charges that someone has to pay for when they receive a particular medical care service. A coinsurance charge is one that is expressed as a percentage of total expenses that has been charged for the service received e.g. 10% of consultation fees. Copayment is similar to copayment but the charge is expressed in monetary value e.g. $50 for every Emergency Medical services. The range for affordable individual health insurance plans is usually about 20% and $20 for both, respectively.

A deductible is amount one has to incur before the individual health insurance plan one has taken, starts paying for the rest of the bills. There are two types of deductibles. Higher deductible charges which translate to lower premiums and lower deductibles which translate to higher premiums and is not advisable.

An out of pocket maximum is a charge that comes with most health plans. It means that with the expensive nature of paying for copayments, coinsurances and deductibles that make health insurance prices soar, one can get to an out of pocket maximum and the health insurance companies will pay for the rest of the health care expenses. This is however, subject to exceptions in some health insurance plans.

Even though it might seem like a lot of charges are involved and may push up the health insurance prices, over 13 million Americans have opted for individual health insurance and for a good reason. It is customized, to cover individual needs, it is flexible and most of all, it is affordable. Understanding the meaning of the different charges on your individual health care plan can help you appreciate the comprehensive nature of coverage you get with such a plan.

To get more information on the different charges in an individual health insurance plan or to get free quotes, enter your zip code in the box provided at the top of the page. It is fast, easy and totally free.