Frequently Asked Questions

Health Insurance is a contract with an insurance company, which agrees to pay a portion or all of your approved medical costs based on the coverage you purchase. Most people have private health insurance, either offered to them through an employer or by purchasing their own individual policy.

Health care is one of the most expensive costs that Americans face. With new technology, access to care, and high pharmaceutical costs, many people would be one health setback away from financial ruin. By regularly paying premiums for health coverage, you can be assured that your coverage will be available to defray the cost of everything from routine checkups to catastrophic medical bills.

Your deductible is the initial amount you must pay each year (typically, a calendar year) for covered health services before your insurer will start to pay out. Plans may have separate deductibles for each individual, or a combined deductible for families.

A copay is a fixed dollar amount that you pay towards a medical service and/or a prescription. Not all plans have copays – some plans will apply these charges towards your deductible (see above).

Coinsurance is a fixed percentage that you pay towards a service. Typically, this percentage begins after your deductible has been met.

The Patient Protection and Affordable Care Act, also known as the "ACA" or "Obamacare", was signed into law by President Obama on March 23rd of 2010. Among other things, the ACA requires most Americans to have health insurance or face a penalty. It also makes it illegal for insurance companies to set dollar limits on coverage, cancel you if you get sick, or charge more or deny coverage because of a pre-existing condition.

It is possible that depending on your income, you may be eligible for lower cost subsidized coverage, either via a tax credit or through a Federal program. Visit our personal insurance page for more details on tax credits!

Yes. For employer sponsored insurance coverage, it means a multitude of changes, including:

• Preventive services covered at no cost to you
• Guaranteed coverage for your adult children to age 26, regardless of whether or not they are a student
• Guaranteed coverage if you have a pre-existing condition
• Visit our "Employer Health Plans" page for additional group-related information!

For most people, NO. While the ACA can take credit for including free preventive services within the Medicare program, for the most part, Medicare and in turn, Medicare supplements were not affected by the ACA.