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Health Insurance Simplified
LEARN ABOUT INSURANCE
Confused by health insurance? You're not alone...
Research has shown that 88% of US adults cannot calculate their health insurance costs. 77 million Americans report basic or below basic understanding of health insurance terms and processes. This trend persists no matter one's education level or life experience, affecting people in all walks of life. It also has massive implications on how much we pay for healthcare and how we view medicine as a whole.
We set out to address this problem by defining some of the most common health insurance terms in simple language with real-life examples. Click here to read on.
CALCULATE YOUR COSTS
If you know a few values from your current insurance plan, we can help you calculate what you might pay at the doctor's office, or monthly or yearly for coverage.
Choose "None of the above" if you are being billed for chemotherapy, physical therapy, or other medical services.
The total cost, before any insurance coverage
PLEASE MAKE SURE TO FILL OUT ALL FIELDS WITH AN ASTERISK! IF YOU DON'T KNOW A VALUE, LEAVE IT AS 0.
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SCROLL DOWN TO SEE YOUR RESULTS IN GREEN TEXT!
Annual health insurance costs include your PREMIUM, which is like a subscription fee. You always pay your premium, monthly or yearly, regardless of if you use healthcare or not.
Annual health insurance costs also include OUT OF POCKET COSTS. These will vary depending on how often you visit the doctor, a pharmacy, a hospital, or the like. Out of pocket costs include DEDUCTIBLES, COPAYMENTS, AND COINSURANCE.
YOUR Annual Premium Cost:
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YOUR Annual Deductible:
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Most doctor's visits, prescription costs, and similar healthcare services will ask for a COPAY, which is a fixed amount of the bill you pay while insurance covers the rest. Some plans will instead bill you for COINSURANCE, which is a fixed percentage of the bill you pay.
What YOU pay (using the copay model):
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Hospital stays and surgeries almost always count towards your DEDUCTIBLE, a fixed minimum you must pay before insurance kicks in. Given the expense of hospital stays and surgeries, these almost always bill using COINSURANCE instead of a COPAY.
If your DEDUCTIBLE, COPAYS, AND COINSURANCE add up over the year to be more than your OUT-OF-POCKET MAXIMUM, then insurance will cover the rest of your costs for that year only.
What INSURANCE pays (using the copay model):
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What YOU pay (using the coinsurance model):
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What INSURANCE pays (using the coinsurance model):
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FOR HIGH COST HEALTHCARE EXPENSES (like hospital stays and surgeries, which use only coinsurance):
What YOU pay:
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What INSURANCE pays:
0
Keep in mind that these values are only estimates based on information you provide, and are not guaranteed quotes.
Insurance plans are complicated, and we do our best!
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