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Only rarely will someone in Michigan pay nothing for their medical care, even with insurance. Though private health insurance can greatly reduce an individual’s out-of-pocket responsibility for care, it almost never makes health care entirely free.image of a heart and stethoscope

Whenever you go to the doctor or use your health insurance, you can reasonably expect to pay a cost. Based on the care you need and the coverage you have, these costs may vary.

1. Premiums

Your premium is the amount you pay your insurance company to provide your coverage. Think of it like a light bill or a telephone bill. To maintain service, you have to pay this bill. Premiums vary widely based on a variety of personal risk factors. These may include your medical history, location, profession, age, gender or other demographic factors.

Most Americans have to carry health insurance. To help customers better afford coverage, some individuals can qualify for cost assistance.

2. Deductibles

Consider a deductible to be your financial responsibility for care. If you carry a $5,000 deductible, that means you promise to pay $5,000 for care during your policy period. After you reach that $5,000 threshold, your insurance company should cover most, if not all your remaining costs of care.

If you worry about affording care before you meet your deductible, talk to your insurer. Many plans fully cover certain essential treatment regardless of whether you’ve met the deductible.

3. Annual Limits

At one time, policies could cap how much they would pay for your coverage in a given year. However, changes to insurance law banned this practice. Many plans can no longer impose maximum limits.

Nonetheless, exceptions do exist. Some insurers can place coverage limits on coverage that is not deemed essential. Other older plans may still operate under annual limits. Check with your insurance agent to see if your policy has any limits.

4. Co-payments

Even after you’ve met your deductible, you may still have to pay a small cost for care, often called a co-payment. Again, think of co-payments as your financial contribution for the care you receive.

Most co-payments are usually nominal. They might change depending on the type of care you seek. For example, a co-payment from an in-network provider is often lower than one for an out-of-network care provider. Not all plans require co-payments.

Furthermore, many insurance policyholders can receive certain preventative services totally free of charge. These may include things like immunizations, diabetes testing and blood pressure screening. With the right policy, you will face greatly reduced costs for many of your health care needs. However, talk to your insurance agent about getting the policy that is right for you.

We’ve got you covered. Call Allen Harmon Insurance at 269.441.5156 for a fast, free health insurance quote.

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