Georgia Insurance Policies and Coverages

Georgia insurance should be on your mind if you reside in the state of Georgia. Lots of different types of insurance are important but for the sake of yourself and your family, health insurance should top the list. When it comes to looking for health insurance companies that can provide you the coverage that you need it is essential that you have an understanding of what insurance terms means.

Understanding health insurance is not as problematic as it once was but it can still be tricky for first timers to comprehend. Georgia insurance in a sense speaks a language all its own. Therefore to speak the language you first must understand the meaning behind it. Let us delve into some common health terms.

Have you ever heard the term coinsurance? If not then listen up. You need to know about this. Coinsurance is the percentage of money that you will have to pay to receive health care once you have paid your required deductible. The majority of insurance companies in Georgia pay anywhere from 75 to 80 percent of the total bill. When searching for health insurance always find out this information from the companies you are looking at. What this means is that you will have to pay 20 to 25 percent of the cost. This is the coinsurance you pay.

Another “co” word in the world of Georgia insurance is a copayment. A copayment, or as it is sometimes shortened to, a copay, is a predetermined fee that you are required to pay every time you seek out medical care. For example, if you go to your doctor because you have an ear infection then you must pay a copayment. Your insurance plan will cover the remainder of the cost. A common price for a copayment is $10 for a doctor’s visit.

Deductible is a common insurance word. In fact it is impossible to discuss insurance without using the word. No matter what type of Georgia insurance you are talking about there will be a deductible. This is true of health insurance, life insurance, vehicle insurance and house insurance. A deductible in case you are not aware of this is the amount of money you must pay on a yearly basis before your health plan will kick in and pay its share of your costs.

Exclusions are a part of most health policies. Sometimes referred to as limitations, there are certain services that health plans do not cover. It is a requirement of all plans that exclusions be listed in the written material of all Georgia insurance plans.