PTP Insurance Agents of Naperville, IL, an independent insurance agency

Health Insurance - PTP Insurance Agents, Naperville, Illinois   What is Health Insurance? Types of Health Care Insurance Medicare - After 65 Other Types of Medical Insurance Get a quote   What is Health Insurance? As it pertains to The State of Illinois, a health insurance policy (sometimes called medical insurance) is a contract between the insured (an individual) and the insurance company (insurer). The health insurance policy can be renewable annually or monthly. The types health care are covered in the policy as well as the coverage amounts. To get specific coverage information and limitations, please get a free health insurance quote for Illinois residents. The policy-holder (insured) typically has some or all the following payment obligations: Premium: The amount the insured pays each month for health or medical coverage. Deductible: The amount that the insured must pay prior to the insurance company making any payments. For example, if policy-holder has a $500 deductible per year, there will be no payouts from the insurance company unless and until the insured has paid $500 toward the covered cost of services received. Copayment: The amount the insured must pay prior any payment from the health insurance company for a particular visit or service. For example, the insured may be obligated to pay a $25 copayment for a doctor's visit. Coinsurance: Instead of a copayment, the insured might have to pay a percentage of the total cost of a procedure. For example, the insured might have to pay 20% of the cost of a surgical procedure, while the insurance company pays the other 80%. Often, there is a limit set for the amount of coinsurance the insured has to pay. Once that limit is reach, the medical insurance company will pay 100% of the remaining balance up to the limit defined in the health insurance policy. Health insurance policies have many other terms and conditions. Some are: Exclusions: Not all services are covered. These will be spelled out in the health insurance policy, and the insured must pay the full cost of any non-covered medical services if rendered. Coverage limits: Some medical insurance plans pay for health care up to a certain maximum amount for a specified service. Once that amount is reached, the insured is responsible for any charges above and beyond the healthcare policy's maximum payment for that service. Furthermore, some health insurance plans specify annual or lifetime coverage maximums. Once these maximums are reached, the insurance company will stop further payments for any service. Out-of-pocket maximums: The insured's payment obligation ends after an out-of-pocket maximum is reached (as defined in the health insurance policy), and the insurance company pays all further covered costs. Out-of-pocket maximums can be defined by category (like prescription drugs), or it can apply to the sum of all expenses for all covered medical services provided over a specific benefit year. Capitation: An agreed upon amount paid to a health care provider by a medical insurance company for a service. This schedule of payments applies to all members of the insurer. In-Network Provider: A health care provider that is on a list created by the insurance company is known as an in-network provider. The insurance company will offer discounts, or additional benefits, to its plan members if they use in-network provider services. In return for the referral business, providers in network will charge rates below the "usual and customary" charges the insurance company pays to out-of-network providers. Prescription drug plans: This is a form of insurance where the insured pays a copayment and the insurance company pays for part or all of the balance for drugs covered by the plan. Get a free health insurance quote from PTP Insurance agents today. Click here. We will include Illinois Blue Cross as well as other insurance companies.

People to People Insurance Services Inc. - 1240 Iroquois, Naperville, IL, DuPage County - Serving Chicagoland (630) 355-2355

Naperville Illinois personal and commercial independent insurance agents, PTP Insurance Agency, serves clients throughout the metropolitan Chicagoland area which includes Cook County, DuPage County, Kane County, Kendall County and Will County; including, but not limited to, Naperville, Bolingbrook, Plainfield, Aurora, Batavia, Barrington, Berwyn, Bedford Park, Bloomingdale, Brookfield, Burbank, Burr Ridge, Carol Stream, Chicago, Clarendon Hills, Countryside, Darien, Downers Grove, Elgin, Elmhurst Glen Ellyn, Glendale Heights, Hickory Hills, Hoffman Estates, LaGrange, LaGrange Park, Lemont, Lisle, Lockport, Lombard, Lyons, Mokena, Montgomery, Oak Brook, Oswego, Romeoville, St Charles, Schaumburg, Shorewood, Sycamore, Warrenville,West Chicago, Westmont, Woodridge and Yorkville.