Thursday, June 6, 2013

Common Term Health Insurance Plans Explained

The process of searching for the very best in New York health insurance policies, you might well find that you come across many terms and phrases that you might not be over familiar with. If you are able to have a better appreciation of the different elements of the health insurance policies, then this will make the process of arranging the insurance coverage that much easier. By investing the right amount of time into researching the market to make certain that you have in place the right insurance protection for you and your family members, then you are going to have the peace of mind of knowing that medical help will be there when it is most required.

When you do start searching to obtain the quotations in-person or online, you might well come across a wide range of insurance terms such as the deductible, co-payments, lifetime maximum, and pre existing conditions. Most of these are quite straightforward to learn and understand which should help getting the right insurance policy in place.

Here are some of the more common terms that are likely to be mentioned on the New York health insurance policies:


A deductible amount can vary quite significantly from policy to policy and therefore you want to make certain that this is able to fit within your own financial situation. Basically, the deductible amount is the total amount of money and that you are likely to pay yourself before the insurance company gets involved in the costs of the medical treatment. It is highly beneficial if you are able to take notice of the deductible amount mentioned in the policy, since this is likely to have a significant impact on the ability to make a claim in the event of an accident or injury requiring medical treatment.


A co-payment (also known as co-insurance) is often a reference to a certain amount that needs to be covered in the event of receiving certain prescription or care benefits. Co-payments are likely to vary quite significantly and the payments are often different when it comes to emergency room visits to needing to rely on a new prescription. If you are able to be more mindful of the co-payments that are mentioned within the insurance terms and conditions, you will be that much more prepared for having to pay a certain amount for a treatment.

Lifetime Maximum: 

It is often the case that many of the New York health insurance policies incorporate some type of lifetime maximum, which essentially relates to the total sum insured on a policy that is claimable during your lifetime. If you do get in a situation where you acquire a significant amount of a health care treatment and you pass the lifetime maximum, any future medical treatment isn't likely to be covered under the insurance terms and conditions. This amount is likely to vary on the different insurance policies, and therefore you want to make certain that this amount is set at a sensible value for your own individual plan.

Pre-Existing Conditions: 

In many cases when attempting to sign up to a private insurance plan, it is necessary to answer relevant questions relating to the existing medical conditions, and therefore it is always likely that they insurance company will require a list of your medical history to ensure that the right type of policy is available to match your needs.

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