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Health Insurance in Kirkland, WA

Your health should be a top priority. By obtaining a comprehensive health insurance plan, you are taking steps to protect your physical and mental well-being and mitigate health care costs. The agents at Absolute Insurance Solutions can help you evaluate health insurance plans, explore premiums and deductibles and identify the best coverage that fits your budget.

What Are the Types of Health Insurance?

Health insurance comes in various forms to cater to different health care needs. Here are some common types of health insurance:

  • Health maintenance organization (HMO) plans cover services performed solely by in-network providers. HMO plans tend to cost less but be more restrictive than other plans.
  • Preferred provider organization (PPO) plans include a network of providers and allow you to seek out-of-network medical services. Referrals may not be required.
  • Point-of-service (POS) plans combine elements of HMO and PPO plans. Under POS plans, each time you need care, you can choose how it will be received. However, you may receive more substantial benefits if you see a primary care provider and stay within the network.
  • Exclusive provider organization (EPO) plans allow you to seek care from a predetermined list of in-network providers without having to obtain a referral from a primary care physician. EPO plans require you to stay in the network for all medical services.
  • High deductible health plans (HDHPs) have higher deductibles than traditional insurance plans. Under such plans, your monthly premium is typically lower, but you pay more costs yourself before hitting your deductible. An HDHP is often paired with a tax-advantaged account to pay for medical expenses. The most prominent options are health reimbursement arrangements (HRAs) and health savings accounts (HSAs).

Additionally, several coverage options are available to fit your health care needs, such as disability, supplemental, vision, dental and long-term care. Our knowledgeable agents can help assess your situation, recommend coverages that fit your budget and help you select a health insurance plan.

How Does Health Insurance Work?

Health insurance operates on the principle of risk sharing. Policyholders pay regular premiums to the insurance company; in return, the insurer provides coverage for various medical expenses. Here are some important terms related to health insurance:

  • Premiums—Policyholders pay a monthly or annual premium to maintain their health insurance coverage. The premium amount may vary depending on factors such as age, location, medical history and the type of plan.
  • Deductibles—Before the insurance coverage kicks in, individuals must meet a deductible, which they must pay out of pocket for covered services.
  • Copayments and Coinsurance—Once the deductible is met, policyholders may be required to pay copayments or coinsurance for certain services. Copayments are fixed amounts (e.g., $20 for a doctor’s visit), while coinsurance is a percentage (e.g., 20%) of the total cost of a service.
  • Out-of-Pocket Maximum (OOPM)—Insurance plans also have an OOPM, the maximum amount individuals must pay during a policy year. Once this limit is reached, the insurance company covers 100% of the remaining eligible expenses.

Why Is Health Insurance Important?

Health insurance is crucial in safeguarding individuals and families from unexpected medical costs. It offers financial protection by helping cover the costs of hospitalizations, surgeries, medications and other health care services. With health insurance, you can access a network of health care providers, which can help you get necessary medical attention, treatments and preventive care. Also, knowing that you have health insurance coverage provides peace of mind. It alleviates worries about unexpected medical emergencies and allows you to focus on your well-being.

By understanding the different types of health insurance, how it works, and why it’s important, you can make informed decisions to secure appropriate coverage for your health care needs. Absolute Insurance Solutions is dedicated to providing affordable insurance options in Kirkland, WA, and our agents can help you select the right health coverage for your needs and budget. Contact us today to get started.

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