In today’s world, a single major medical procedure can cost more than a mid-sized sedan. Health insurance isn’t just about doctor visits; it’s about bankruptcy protection.
Key Terms You Must Know
- Deductible: What you pay before the insurance kicks in.
- Out-of-Pocket Maximum: The “Light at the end of the tunnel.” Once you hit this, the insurance pays 100%.
- Network (HPO vs. PPO): Choosing the right network determines whether you can keep your favorite doctor or if you’ll be charged “out-of-network” prices.
Whether you are a freelancer or a corporate employee, understanding these three terms can save you thousands of dollars a year. Don’t just pick the plan with the prettiest logo—pick the one that matches your medical history and your budget.