Frequently Asked Questions
What is Co-insurance?
Co-insurance is a cost-sharing requirement where you are responsible for paying a certain percentage and the insurance company will pay the remaining percentage of the covered medical expenses after your plan deductible is met.
What's the difference between a Primary Care Physician (PCP) and a specialist?
A Primary Care Physician, or PCP, is the doctor you would go to on a regular basis, such as when you're simply not feeling well, or have an ear ache or the flu. A specialist is a doctor that your PCP might refer you to if the problem you have requires a doctor with more experience in a certain area.
What is "Out-of-Pocket-Maximum"?
This is the amount of money one would pay out of their own pocket towards your medical expenses in any given year. An out of pocket expense can refer to how much the co-payment, co-insurance, or deductible is. Also, when the term annual out-of-pocket maximum is used, that is referring to how much the insured would have to pay for the whole year out of their pocket, excluding premiums. Usually, your maximum out-of-pocket is never more than a couple of thousand dollars over and above your chosen deductible.
What is considered a pre-existing condition?
A pre-existing condition is any health condition you have or have had prior to applying for a health insurance policy.
Can I get health insurance if I’m currently pregnant?
Unfortunately No.
What is HIPAA?
HIPAA stands for the Health Insurance Portability and Accountability Act, which is a law mandating that anyone belonging to a group health insurance plan must be allowed to purchase health insurance within an interval of time beginning when the previous coverage is lost regardless of current health status.
Will I have to be examined by a doctor to buy life insurance?
Rules vary from company to company and for different types and amounts of insurance. For very small amounts of insurance or association or group plans, no exam usually would be needed. However, those that have health issues or request larger coverage amounts may be required to have a basic medical examination.
Can I buy life insurance over the internet or by telephone or mail order?
You can get plenty of information, including quotes and terms of plans, by contacting our office.
How do I protect my family from losing our house if I die while still having a mortgage to pay?
The preferred way to cover this need is to purchase what may be described as a “decreasing term insurance policy”. Most insurance companies offer a variety of such policies including ones that are specifically tailored to match the declining principal balance of your particular mortgage.
How might my smoking affect my ability to buy life insurance?
If you are a smoker, you should expect to pay a little more for your life insurance than a non-smoker of a similar age and health.
Of course, if you also have a smoking-related medical condition, then the life insurance company would take that into consideration when deciding whether to sell you life insurance and what rate you should be charged.
