FAQs About Health Insurance

FAQs About Health InsuranceLearn the basics about health insurance!

Health insurance is coverage that can protect you from the full expense of regular health care, as well as costly medical and surgical procedures. Even though you may feel invincible – you are not, and your body can suffer if you do not have access to affordable treatment.

Many think that acquiring healthcare can be lengthy and downright confusing, which is why we aim to take the stress out of the process for you. This way, you can have the peace of mind that you are protected!

What is health insurance?
Health insurance is a contract with an insurance company, which agrees to pay some or all of your medical bills based on your coverage. Most Americans have private health insurance, while others are covered under the public programs, such as Medicare and Medicaid.

Why do I need health insurance?

It is no secret that health care is expensive today. However, so is treatment. A broken leg could cost you up to $7,500 while a three-day hospital stay can set you back $30,000. Without insurance, one health issue could end up costing you more than you can afford. Regularly paying a set premium for health coverage assures that money will be available to help with the medical expenses.

What does health insurance cover?

Health insurance can cover a variety of things, from your regular checkups and family care to your major medical expenses. Many policies cover hospital rooms, emergency room visits, and inpatient substance abuse treatments. Some insurance policies will cover vision services and surgeries while others will not.

How do I apply for Medicaid or CHIP?
You can apply in two ways: 1) fill out a Marketplace application. 2) apply directly to your state agency.

Will I pay a penalty if I do not have health coverage?
Typically, you’ll pay a penalty fee if you do not have coverage for all or part of the year. For 2016, the fee is $695 per person or 2.5% of your household income, whichever is higher.

Get started on securing the right health insurance policy to suit your needs and budget by visiting the professionals at Mayer Insurance, serving all of Apple Valley and neighboring cities in Minnesota.