Not to be confused with coinsurance, copayment is the set amount you pay each time a medical service is accessed. These percentages differ from plan to plan so be sure to check the policy wording before choosing a plan. This means that the insured must pay a certain percentage of his or her medical costs (after the deductible has been paid). Keep in mind that the higher your deductible, the lower your premiums will be each month, but you will also be responsible to pay more when you seek treatment.Ĭoinsurance is a cost sharing agreement between the insurance company and the insured. Most insurance plans have different deductibles for different types of coverage, for example you might have to meet a $1,000 deductible before your insurance will pay for a hospital visit, but only a $250 deductible before your insurance will pay towards prescription medication. After your deductible has been paid your insurance company will begin to pay for all eligible expenses. For example: If you choose a plan with a $1,000 deductible, you are responsible for the first $1,000 of your medical bills. The deductible is the amount of money you are responsible for paying for medical expenses before the insurance company begins to pay on your behalf. Depending on your insurance carrier, your policy may be restored if you pay the outstanding amount within a certain time period. If you fail to pay your premium when it is due, your insurance policy will be automatically cancelled. Even if you don’t think that you will need it, it’s always a good idea to verify ahead of time if mental health is included in your coverage.Ī premium is the initial cost of buying insurance coverage and can be paid as a lump sum or as installments throughout the duration of the policy. It can be difficult to be away from home for so long and many students seek mental health assistance while they are in the U.S. Organized sports can be excluded from coverage all together, or may be a capped benefit – meaning you will only have coverage up to an amount lower than the policy maximum on your plan.
If you plan to participate on a sports team as an international student (intercollegiate, intermural, or club) it’s important to make sure those injuries would be covered by your plan. Keep in mind that insurance plans are designed to help protect you financially for future events, so once you become pregnant there are few to no options available to cover the cost. If you anticipate becoming pregnant, it is important to check if your insurance plan covers maternity and if there is any waiting period that applies. Prenatal, delivery and post-natal care does not come standard on all insurance plans. If your pre-existing condition is not covered then neither are the doctor visits, prescriptions or related treatments. Some insurance plans exclude pre-existing conditions all together, others have a waiting period, and still others may cover it right away. To put it simply, a pre-existing condition is any illness or injury you had before your insurance plan started. This list will tell you what is NOT covered – which can even important than the list of benefits in some situations. Be sure to read carefully and look for any limits on coverage.Ī list of exclusions is found in every health insurance plan and it is extremely important read each exclusion individually.
Some plans list this cap on the benefit table while others only list these caps in the policy wording. For example, an insurance policy may have cover mental health, but only $50 a day. plans.Ī capped benefit limits the amount your health insurance will pay in a given situation. Please note: that if you are required to purchase international student health insurance, you will abide by the Kent State University regulations to purchase United Healthcare. You can find more information at this website, where insurance is explained in greater detail. It is important to understand your current health insurance plan and know what is and is not covered with your insurance policy. Below, we listed the most common terms that are used with insurance companies. In the U.S., the healthcare system can be more complicated than your home country's healthcare system.
0 kommentar(er)
