HEALTH INSURANCE TERMS

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health-insurance-termsWhen you are thinking about getting a health insurance policy you may be taken aback by all the technical terms. This may sway your decision on taking up the policy as you may not be willing to buy in on what you don’t understand.

Here are a few terms you may come across: Once you learn of the terms, it will be easier to understand what you are getting yourself into.

Coinsurance

A form of medical cost sharing in a health insurance plan that requires the insured person to pay a stated percentage of medical expenses after the deductible amount, if any, was paid. Once any deductible amount and coinsurance are paid, the insurer is responsible for the rest of the reimbursement for covered benefits up to allowed charges.

Copayment

A form of medical cost sharing in a health insurance plan that requires an insured person to pay a fixed dollar amount when a medical service is received. The insurer is responsible for the rest of the reimbursement.

Deductible

A fixed dollar amount during the benefit period – usually a year – that an insured person pays before the insurer starts to make payments for covered medical services. Plans may have both per individual and family deductibles.

Fully insured plan

A plan where the employer contracts with another organization to assume financial responsibility for the enrollees’ medical claims and for all incurred administrative costs.

Here are some of the many benefits of Madison Alpha Health policy:

  • Overseas treatment on referral
  • Overseas emergency treatment for the first 45 days of travel
  • Local emergency road and air evacuation
  • Psychiatric illness
  • First emergency caesarean section

Read more here http://www.madison.co.ke/alpha-health.html

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