With all the recent changes in the law, it can sometimes be difficult understanding the exact difference between government insurance and commercial insurance. In short, government insurance usually refers to a variety of different plans (including those that are regulated by the government in a kind of market, while commercial insurance refers to plans that are sold by for-profit companies that are free from such regulations.
Healthcare
Understanding Health Insurance Coinsurance
If buying and comprehending health insurance weren’t complicated enough, many people today are also tasked with paying for and understanding coinsurance. Because the term can be confusing, we have prepared the following guide.
The Pros and Cons of a High Health Insurance Deductible Plan
When it comes to choosing health insurance plans, one of the most important things to consider is the deductible. With any insurance policy, a deductible is the amount you must pay out of pocket before the insurance provider will pay for anything. While not every insurance plan includes deductibles, more than 80% of them do, so knowing which one is right for you is important. Many insurance plans are categorized by having a low deductible, meaning you only pay a little before the insurer begins to play, or a high deductible, which can be quite substantial. But because the premiums (costs) of high deductible insurance plans are lower, it can be a wise choice for some people.
Understanding HMO, PPO and EPO
With so many acronyms flying around when it comes to describing health insurance, it’s easy to get confused. Below is a simple guide to what these acronyms stand for, and how you can better understand which type of plan is best for you.
Obamacare 2016: What you need to know about the Affordable Care Act
The Affordable Care Act, most commonly known as “Obamacare,” has a number of changes that will take place for the year 2016. Below is a complete guide to everything you will need to know about enrollment in the program: