Every day I speak to people about their Health Insurance. They rarely know what their Deductible is, and almost always they do not have a clue what their Co Insurance is. This is a major problem because having the wrong Co Insurance could make you liable for a whole lot of charges. Comrade Financial Group will always recommend a 0% Co Insurance for all plans we offer Individuals and Families.
What is Co Insurance?
Your Co Insurance is above and beyond what you would pay after your deductible is met. So you tell me that you have a $1500.00 deductible! That is great, but your co insurance is 20%. So lets just say that you incur medical bills in the amount of $15K. You would pay your deductible of $1500, then 20% of the remaining $13,500. Some carriers don’t have Co insurance lower than 40%!
Make sure that your Health Insurance plan has a 0% Co Insurance!
Jack Fleming – Insurance Broker