Frequently Asked Questions

Health insurance is a type of insurance that covers the cost of medical and surgical expenses incurred by an individual.

Health insurance helps you pay for medical expenses and provides financial protection in case of unexpected illnesses or injuries.

There are several types of health insurance plans available, including HMOs, PPOs, EPOs, and POS plans. These plans vary in terms of cost, coverage, and provider network.

A deductible is the amount of money you must pay out of pocket before your insurance coverage begins to pay for medical expenses.

A premium is the amount of money you pay each month for your health insurance coverage.

A copayment is a fixed amount of money that you pay out of pocket for a specific medical service, such as a doctor’s visit or prescription drug.

An out-of-pocket maximum is the most you will be required to pay out of pocket for covered medical expenses in a given year.

It depends on the specific health insurance plan you choose. Some plans have a specific network of healthcare providers, while others may allow you to choose any healthcare provider.

You can enroll in a health insurance plan through your employer, through the Health Insurance Marketplace, or through a private insurance company like Acme Insurance.

If you miss an insurance payment, your coverage may be canceled or suspended. It is important to make timely payments to ensure that your coverage remains active.

An annual open enrollment period is a specific time period during which individuals can enroll in a health insurance plan or make changes to their existing plan.

A network is a group of healthcare providers, such as doctors and hospitals, that are contracted with a specific health insurance plan.

A formulary is a list of prescription drugs that are covered by a specific health insurance plan.

A health savings account (HSA) is a tax-advantaged savings account that can be used to pay for eligible medical expenses.

A flexible spending account (FSA) is a tax-advantaged savings account that can be used to pay for eligible medical expenses.

A catastrophic health insurance plan is a type of insurance plan that provides coverage for major medical expenses but typically has higher deductibles and lower premiums.

You may be able to change your health insurance plan outside of the annual open enrollment period if you experience a qualifying life event, such as marriage, divorce, or the birth of a child.