Purchasing health insurance is like buying a car, there are many makes and models to choose from. You pick the one that you think will serve the needs of you and your family.When it comes time to use health insurance, it is important to understand what you bought. At Hurley and Associates, we are committed to being there for you, not just at the point of purchase, but afterwards when it counts the most.

What is a premium?

A premium is what you pay for your plan monthly. The cost of your plan is based on your age, where you live, and the plan you have chosen.

What is a deductible?

A deductible is the first cost associated with the plan you choose. A deductible is 100% paid by you.

What is a co-payment?

Co-payments are dollar amounts for office visits, drugs, and other services as outlined by your plan. Generally, co-payments continue on after a deductible is met.

What is coinsurance?

After the deductible is met, you can pay a percentage of your plans negotiated amount. This is coinsurance.

What's an out-of-pocket max?

Out-of-pocket max is a combination of deductible and co-insurance, together they equal an out-of-pocket max as outlined by your plan. Usually when out-of-pocket max is reached you are responsible only for co-pays until the end of the year.

What is a Health Savings Account?

A Health Savings Account is an account set up at a bank that functions like a 'Medical IRA'. When you purchase a plan that is 'HSA compatible', you are free to also set up a HSA account where you can deposit money to pay for qualified medical expenses.

Why should I buy health insurance?

Most people can cover medication and the occasional trip to the clinic, but hospital stays and surgeries are very expensive. You need medical insurance for the unplanned, high dollar, prolonged illnesses and accidents.

What's the best policy I can buy?

The best policy depends on what your needs are and your health. A licensed insurance agent is trained to ask the right questions to help you decide what plan to purchase.

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