Individual & Family Health Insurance
Having the right health insurance in place is important. Not only do you need the right coverage at an affordable rate, but also access to the healthcare providers you trust for the services you and your family need. Our agent at B. Murphy Insurance Group in Clarksville, Tennessee, or Austin, Texas, can help you find the best fit in an individual and family health insurance plan.
Copays, Deductibles, and Coinsurance
There is much to consider in selecting a health insurance plan. In addition to the cost of the coverage and the providers on the plan, you will also want to consider the details below.
How much is the copay?
The copay (copayment) is the flat fee you pay every time you go to the doctor or fill a prescription. Some visits may not require a copay. Many plans pay 100% for preventative care and annual checkups.
How much is the deductible?
The deductible is the amount you pay every year in eligible medical services and medications before your insurance plan goes into effect. If your deductible is $500, you pay $500 out of pocket in eligible medical costs before insurance payments start.
Is there coinsurance, and how much is it?
Coinsurance is the portion of your medical costs you are required to pay after your deductible is met and your plan kicks in. For example, if your coinsurance is 20%, you pay 20% of your eligible medical expenses, and your insurance company pays the remaining 80%.
Cost of Individual & Family Health Insurance
Many different factors will impact what you pay for health insurance. Generally, the more you pay in monthly premiums, the higher the percentage of your medical costs your health insurance plan will cover. An agent at B. Murphy Insurance Group can assist you in choosing a plan.