Health insurance is one of the benefits that is offered by most employers. Health insurance helps to cover some of the expenses that you may incur from regular doctors visits, surgery, hospital stays, medications, and more. The employer will often pay a portion of your premium as well, although you will have some contribution amount that is taken out of your check.
How Does Health Insurance Work?
A health insurance company makes agreements with hospitals, doctors, or networks. When a patient needs medical care, then they will get a better cost if they go to one of these contracted providers. For example, if you go to the contracted provider, you may only pay your copy of $25, but if you go outside the list of providers, you could have to pay $60 or even more.
Normally, an employer will give employees a choice of plans. These may vary in deductible and in the maximum out of pocket amounts, as well as copays and more. This is a very important decision to make, as you may not be able to afford a high deductible if your medical costs begin to rise. It may be better to go with a lower one in the long run.
Due to the Affordable Care Act, your insurance company is required to pay all costs for preventative care. This means that you have no excuse for not going to the doctor for your checkup and preventative testing. While you may never meet your deductible unless you become ill or injured, having a good insurance policy can give you peace of mind in knowing that your care is covered and you will not be responsible for as much of the costs.
Your employer-sponsored insurance plan is one of the best benefits that you can take advantage of. Look over the plans and choose the right one for you and your family.