Kentucky Health Insurance

This blog was developed to help you, a normal person, understand the world of health insurance. Health Insurance can be incredibly complicated. We are here to help you navigate the confusion. In addition to our Blog, we are also a full-service Independent Health Insurance Agency. We work with all of the major carriers and provide the best in customer service. Get a free quote at One Source Benefits today!

Here are a few commonly used health insurance terms and their definitions for your reference. Premium: The amount of money you pay on a regular basis-once a month, four times a year, twice a year, or once a year-to the insurance company to keep your health plan active. You decide how often you pay. You can not apply what you pay for your premium toward your deductible. Deductible: The amount of out-of-pocket expenses you have to pay each year before your health plan kicks in and starts paying for services. This does not involve co-pays. Coinsurance: The percentage of money you have to pay out of pocket for covered services. It’s the portion of the bill not paid by your health plan after the deductibles have been reached. Discount: The reduced out-of-pocket cost you enjoy when you obtain health care services from a network provider. Free Look Period: The period the member has to review the contract and cancel the policy back to the effective date and obtain a premium refund. This time period is typically 10 days.