Health Insurance

Your health is an integral part of your quality of life. Injuries, illnesses and other conditions can all adversely affect your family, career, relationships and finances. Even if you currently enjoy good health, live a low-risk lifestyle and are diligent about preventive care, accidents and unforeseen circumstances can happen. With that in mind, it’s necessary to understand the benefits of health insurance. 

What Is Health Insurance? 

Health insurance can provide you with crucial financial resources and ensure you can access medical services, such as preventive care, specialists and prescriptions. Without an adequate health plan, the costs arising from an injury or illness could devastate your finances.  

How Does Health Insurance Work? 

While health insurance is one of the most common types of coverage, it can also come in many forms and include various complexities. Understanding the features and capabilities of your plan is crucial to ensure that you can access necessary resources in the aftermath of injury or illness. With that in mind, it’s necessary to understand the following key terms before making health insurance selections: 

• Deductible—This term refers to a set amount you will be required to spend out of pocket before your policy will begin making contributions.
• Premium—This is the amount you will regularly pay (e.g., monthly) to maintain your coverage.
• Co-pay—This establishes how much you will be required to pay out of pocket for various medical services, such as visiting specialists or getting X-rays.
• Co-insurance—This refers to a percentage of certain services that you may still be responsible for after reaching your deductible.
• Out-of-pocket limit—This amount represents the maximum amount you will have to pay for medical services in a single plan year, including deductibles, co-pays and co-insurance. 

The type of health plan you have (e.g., fee-for-service, HMO, PPO, POS) will play a significant role in determining the details of your coverage. 

How to Get Health Insurance 

There are several ways to acquire health insurance. Many people elect coverage through benefits offered by their employers, while others may shop for their own individual or family plan on the health insurance marketplace. Certain government-sponsored programs, such as Medicare and Medicaid, may also provide coverage for eligible parties. 

We’re here to help. At P&C Insurance Services, Inc., our agents have the expertise and experience to help clients in Brookfield and throughout the Milwaukee area understand their health insurance options and acquire optimal coverage. Contact us today to get started.