All insurance policies include multiple confusing legal terminology. Health insurance policies have more than their share of this type of language. When purchasing your health policy it is crucial that you review it completely, don’t assume a coverage is there, it may not be included. This could save a lot of headaches and money at a future time when you use the policy.

One thing specifically you should look for is the redefinition of words in the policy. This can be done very simply by adding phrases into the policy stating things like you are covered for emergency services, where an emergency is defined as a life threatening issue, whereas not receiving immediate medical attention may result in death or further injury. This policy would exclude emergency treatment for a broken bone, bump on the head, or bleeding that can be kept under control by other means. It is important to fully understand this prior to signing this type of policy.

Insurance policies also use other terminology that many people dont understand for instance the definitions of words such as life time maximum. Whatever dollar amount is stated in this section is all the money that the insurance company will pay for this specific issue for the remainder of your life. This is extremely important, especially if this is a low amount or in an area of care that you need. Medical bills can add up quickly, especially if a serious illness or hospital stay is involved so be aware of this amount before signing your insurance policy.

A term used that has immense value for you is, maximum out of pocket, and you should be very aware of this amount while reviewing your prospective health insurance policy. The amount given for the maximum out of pocket is how much you will spend before the insurance policy starts to pay 100% of the bills. This will protect you from many dollars owed for medical bills, so it is necessary to constitute a policy of which you would approve.

Knowing the ins and outs of your insurance policy is extremely important, as is reading the policy in its entirety before signing. If you have already signed on with an insurance company, but havent read the policy over before hand, then it is a good idea to go back over it looking for the items mentioned above. These are important things to know and understand about your policy. And if you dont understand something the policy says than look it up on the internet, or contact your insurance company to find out exactly what it means. No one should be in the dark about their health insurance policy.

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Posted Wednesday, April 22nd, 2009 at 3:13 pm
Filed Under Category: Affordable Health Insurance
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