Ohio Health Insurance 101

Ohio Health InsuranceMaybe you are a young person just getting out of school or maybe someone else in your family handled medical bills. If you’ve never had to be concerned with Ohio health insurance before, you may want a little background information on how it works.

Unexpected medical costs can be devastating, and in fact, health care is the leading cause of bankruptcy in America. Having good health insurance is an important way to prevent financial disaster as it helps pay health care costs. If you have an accident or illness, you will not have to bear the entire burden of medical costs if you are insured. Ohio health insurance from https://ohioinsurancequotes.net/ohio-health-insurance-quotes/ pays some of the associated medical costs.

Plans offer different combinations of benefits. There’s a plan that suits your need at any age or stage of life and to fit every budget.

Health insurance premiums

You are responsible for a monthly premium to help pay for your Ohio health insurance. If you are employed, your employer may pay a portion of this cost but usually requires employees to pay part, too.  The cost depends on the type of plan you choose. Each plan will differ in the amount the insurance company pays to providers and in the type of medical services that are covered.

If you visit a doctor, you will usually be responsible for a co-payment representing part of the medical bill, usually anywhere from $10 to $50 per visit. Your Ohio health insurance company will pay the remainder.

Deductibles and health insurance

Your plan may require you to pay a deductible. That is, you pay a certain amount in medical bills before the benefit kicks in.  A plan with a higher deductible usually has a lower premium. That means your monthly payment for having insurance is lower, but you will be a higher proportion of the cost of medical care before your benefit kicks in.

Some plans require something called co-insurance. That is the percentage of medical fees you are required to pay on top of your deductible and co-payment.

Some Ohio health insurance plans have no co-payment at all. These usually cost significantly more.

Today, it’s possible that you or others in your family could qualify for a subsidy to help pay for health insurance. This tax credit is meant to help you pay your insurance premium or you may qualify for the Children’s Health Insurance Program, Medicare or Medicaid.

Some online research will help determine if your income or age qualifies you for any of these programs.