GREENSBORO HEALTH INSURANCE

Greensboro health insurance agents from ALLCHOICE will tailor a health insurance plan to meet your budget. We serve all of North Carolina.

GREENSBORO HEALTH INSURANCE - WHAT IS IT?

Greensboro Health Insurance, simply stated, is the protection of the Individual or Family against financial loss from illness or injury.  There are basically two types of Major Medical Health Insurance Plans in Greensboro.  These Major Medical Health Insurance Plans are Traditional Plans and Managed Care Plans.

Click a section below for more information.

TRADITIONAL NC HEALTH INSURANCE PLANS

Traditional Health Insurance Plans

A Traditional Health Insurance Plan is designed to cover a broad range or medical expenses such as hospitalization, doctor visits, surgery, diagnostic tests and prescription drugs.  Most Major Medical Health Insurance Plans require policyholders to satisfy out-of-pocket deductibles each year and to pay a portion of the cost (Co-Insurance) for covered services.  A Traditional Health Insurance Plan will allow patients to use the doctor or hospital of their choice.  The Traditional Health Insurance Plan will pay claims based on charges that the Health Insurance Carrier has agreed to in advance, or based on Usual, Customary and Reasonable charges that represent an average charge for the service provided, in your local area.  Many Traditional Health Insurance Plans limit the total amount of benefits that can be paid out during the policyholder’s lifetime.

NC MANAGED HEALTH INSURANCE PLANS (HMO & PPO)

Managed Health Care Insurance Plans (Co-Pay Insurance Plans)

The most common Managed Health Care Insurance Plans in Greensboro are Health Maintenance Organizations (HMO) and Preferred Provider Organizations (PPO).  Managed Health Care Insurance Plans attempt to manage both the cost and quality of health care services for their members.  Managed Health Care Insurance Plans involve certain processes and requirements that are different from those found in Traditional Health Insurance Plans.  These requirements are designed to encourage patients to seek the most appropriate health care in the most cost effective way.

Health Maintenance Organizations (HMO) are organizations that provide or arrange the delivery of health care services to their members in exchange for monthly premiums.  Typically, hospitalization, surgery, routine doctor visits, diagnostic tests and prescription drugs are covered.  HMO members typically pay a “co-payment” when they visit a health care provider.  Greensboro HMO’s use networks of doctors, hospitals, and other providers to keep costs low.  A member will keep his or her out-of-pocket expenses low by using a network providers.

Preferred Provider Organization (PPO) are Health Benefit Plans offered by Insurance Companies rather than HMO’s.  The PPO and HMO are very similar in coverages and networks, however PPO plans allow the individual to choose the Health Care Provider of his or choice.

CHOOSING THE RIGHT HEALTH INSURANCE PLAN

Choosing The Right Individual or Family Health Insurance Plan

What factors must be considered when choosing the right Greensboro Health Insurance Plan?  In order to choose the right Greensboro Health Insurance Plan for you and/or you family, you must first understand the underlying parts of the “Co-Pay” Health Insurance Plan.

Health Insurance Carrier

This may sound elementary, but when choosing the Health Insurance Plan that is right for you and/or your family, the first thing to consider should be the viability of the Health Insurance Carrier.  Chances are, if you have not heard of the Health Insurance Carrier you are looking at, then that is probably not a Health Insurance Carrier you want.  Health Insurance Carriers can choose to do business in Greensboro or not.  There have been countless companies that have moved in and out of the Greensboro Health Insurance business.  You should look to companies with a history of providing Greensboro Health Insurance Policies.

Co-Pays

Co-Pays are the out of pocket expenses you must pay for “regular” treatments and visits.  Most often, you will think of Co-Pays as the amount you pay when you see your “regular” doctor.  Each Carrier who provides Greensboro Health Insurance will offer plans with varying Co-Pay Amounts.

Deductible

The Deductible is the dollar amount of covered expenses that you must pay before your Greensboro Health Insurance Coverage starts to pay.  As a general rule of thumb, ALLCHOICE advises  their clients to choose a dollar amount that YOU could afford to pay in case of an emergency.  Typically, the higher the deductible, the lower the premium!

Co-Insurance

Co-Insurance is the amount of Covered Medical Expenses you are responsible once you have met your annual deductible.  While the exact amount of co-insurance varies between Health Insurance Carriers and their respective Health Insurance Plans, they typically range anywhere from 50% to 100%.  The lower the co-insurance, the lower the Health Insurance Premium.  An example of a co-insurance calculation is as follows:

You enter the hospital after suffering a Heart Attack.  You are hospitalized for 2 weeks.  Your Deductible was $1,000.  The total amount of the hospital stay was $30,000.  Assuming no “out of pocket maximum”, and an 80% Co-Insurance, you would be responsible for $6,800 ($1,000 Deductible + ($29,000 X 20%)) for you hospital stay.

Out of Pocket Maximum

Most Greensboro Health Insurance Plans will have an “Out-Of-Pocket” Maximum.  This would determine the total amount of money you would be responsible for during a plan year.

Lifetime Benefit

Greensboro Health Insurance Plans will have a Lifetime Benefit.  This is the total amount of coverage the Health Insurance Plan will pay for the individual over that persons lifetime.

Health Insurance Premiums

Health Insurance Costs are one of the fastest growing expenses in Greensboro.  Most people are continually looking for ways to reduce their Health Insurance Premiums and overall Health Care Costs.  Lowering your Health Insurance Premiums can be accomplished by altering the items listed previously.  Remember if you are willing to decrease any of the items above, you can decrease your Insurance Premiums.  ALLCHOICE cautions you to carefully choose which items to decrease.  Choosing a “fly-by-night” Health Insurance Carrier for the sake of a few dollars savings might not be worth it if that company leaves North Carolina and leaves you without coverage!  Talk with an agent today to determine how best to keep you premiums low!

BLUE CROSS & BLUE SHIELD OF NC (BCBSNC) INSURANCE QUOTES (BY CITY)
INDIVIDUAL HEALTH INSURANCE QUOTES & FAMILY INSURANCE QUOTES (BY CITY)