Dummies: Buying Health Insurance For

: You pay less if you use providers in the network, but you have the flexibility to see out-of-network doctors for a higher cost. No referrals are usually needed. 4. How to Sign Up

: The fixed amount you pay every month to keep your insurance active, even if you don't go to the doctor. buying health insurance for dummies

: The absolute most you will pay in a year. Once you hit this, the insurance company pays 100% of covered costs. 2. Choosing Your "Metal" Level : You pay less if you use providers

: Your share of the costs for a service, usually calculated as a percentage (e.g., you pay 20%, they pay 80%). How to Sign Up : The fixed amount

: Higher premiums, but lower costs when you get care. Best if you have ongoing medical needs. 3. Networks: HMO vs. PPO

: Usually limits coverage to care from doctors who work for or with the HMO. You typically need a referral from a primary doctor to see a specialist.

Buying health insurance can feel like learning a second language. At its core, it is a contract where you pay a monthly fee (premium) so that an insurance company helps pay for your medical bills. 1. Key Terms to Know