Articles
Newsletter
| Know your PPO |
 |
 |
 |
| Written by Jeff Cline |
| Sunday, 08 March 2009 09:03 |
|
So many people get frustrated because they get surprise bills from a hospital visit or a procedure because they do not understand their PPO plan. We will help you understand the most misunderstood features of a PPO plan. Consumers prefer the PPO over the HMO, due to the freedom it gives the consumer. You have the choice to go to any physician you wish. However, if you go to a physician that is in the PPO network you will get a discounted rate. Where many people get confused is with the deductible. Simply said, the deductible must be meet before the insurance company shares and expense. So if you have a $2000 deductible you will have to pay that out of your pocket. Now maybe you are confused about the "shared" part. What insurance companies are referring to is you co insurance. Most co insurance is split by a percentage like 70/30. Meaning they will pay 70% and you 30%. They will set a limit on how much you pay. For example, you go to the hospital and your bill is $32000. We already know you have to pay $5000, so that leaves $27000 that you would have to pay 30% of up to the amount of $2000. The insurance company would pick up the rest. So how does it look on paper? Total medical expense was $32000. Deduct your deductible that you are required to pay of $5000, that leaves $27000. Now your expected to pay 30% of the remains balance since your maximum is $2000, and 30% is $8100, you only pay $2000. After your deductible has bee meet and the co insurance has been satisfied in a given year, your total pocket is paid. You will not have to pay anything else that year. Your total out of pocket of $7000 was meet. I hope that now you can grasp and have a clear understanding of what your responsibility is. No more unexpected bills. No more calling the insurance company in frustration trying to figure out what they did wrong. About the Author: Contact agent Jeffrey Cline today for cheap car insurance. . He can help you find the best deals. Jeffrey can also help with your health insurance needs as well. Contact Jeffrey 24 hours a day, 7 days a week @ toll free 866-526-9669. Kindly provided by LJ-Marketing.dk You are welcome to use this article on your own website, if you include the link just before this text. |
Stumble It!
Members : 1254
Content : 2297
Web Links : 1
Content View Hits : 310200
Content : 2297
Web Links : 1
Content View Hits : 310200