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Coinsurance is the term used by health insurance companies to refer to the amount that you are required to pay for a medical claim, apart from any co-payments or deductible. For example, if your health insurance plan has a 20% coinsurance requirement (and does not have any additional co-payment or deductible requirements), then a $100 medical bill would cost you $20, and the insurance company would pay the remaining $80.

A “deductible” is a specific dollar amount that your health insurance company may require that you pay out-of-pocket each year before your health insurance plan begins to make payments for claims. Not all health insurance plans require a deductible. As a general rule (though there are many exceptions), HMO plans typically do not require a deductible, while most Indemnity and PPO plans do.

A “co-payment” or “co-pay” is a specific charge that your health insurance plan may require that you pay for a specific medical service or supply. For example, your health insurance plan may require a $15 co-payment for an office visit or brand-name prescription drug, after which the insurance company often pays the remainder of the charges.

Legislation establishing Health Savings Accounts (or “HSAs”) took effect on January 1, 2004. HSAs and HSA-eligible health insurance plans are becoming more and more popular. Here are the basics:

• An HSA is a tax-favored savings account that may be used in conjunction with an HSA-eligible high deductible health insurance plan to pay for qualifying medical expenses.
•  Choosing an HSA-eligible health insurance plan may help you save money. Typically, the monthly premium on an HSA-eligible high deductible plan is less expensive than the monthly premium for a lower-deductible health insurance plan.
•  Contributions to an HSA may be made pre-tax, up to certain annual limits.
•  Funds in the HSA may be invested at your discretion. Unused funds remain in the account and accrue interest year-to-year, tax-free.

Not all high-deductible plans are eligible for use in conjunction with an HSA. For more details on HSAs.

A traditional Indemnity plan offers a great deal of freedom in choosing which doctors and hospitals to use, but will probably involve higher out-of-pocket costs and more paperwork.

Under an Indemnity plan, you may see whatever doctors or specialists you like, with no referrals required. Though you may choose to get the majority of your basic care from a single doctor, your insurance company will not require you to choose a primary care physician.

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A POS (Point of Service) plan combines some of the features offered by HMO and PPO plans. As with an HMO, members of a POS plan are required to choose a primary care physician (PCP) from the plan’s network of providers. Services rendered by your PCP are typically not subject to a deductible. Also, like HMOs, POS plans typically offer coverage for preventive care visits. (more…)

Though there are many variations, HMO (Health Maintenance Organizations) plans typically enable members to have lower out-of-pocket healthcare expenses but also offer less flexibility in the choice of physicians or hospital than other health insurance plans. As a member of an HMO, you’ll be required to choose a primary care physician (PCP). Your PCP will take care of most of your healthcare needs. Before you can see a specialist, you’ll need to obtain a referral from your PCP. (more…)

As a member of a PPO (Preferred Provider Organization) plan, you’ll be encouraged to use the insurance company’s network of preferred doctors and hospitals. These healthcare providers have been contracted to provide services to the health insurance plan’s members at a discounted rate. You typically won’t be required to pick a primary care physician but will be able to see doctors and specialists within the network at your own discretion. (more…)

Individual and family health insurance plans are usually described as either “indemnity” or “managed-care” plans. Put broadly, the major differences concern choice of healthcare providers, out-of-pocket costs and how bills are paid. Typically, indemnity plans offer a broader selection of healthcare providers than managed care plans. Indemnity plans pay their share of the costs for covered services only after they receive a bill (which means that you may have to pay up front and then obtain reimbursement from your health insurance company). (more…)

We all know the risks involved in skiing and snowboarding – and without that element of danger it wouldn’t be so much fun! Even if you have been lucky enough not to have had an accident so far on the slopes you are bound to have witnessed one – and seen the piste rescue teams in action. So if you’re off to the slopes there’s one thing you don’t want to be without – travel insurance.

Because of the type of injuries that occur on the slope bills for medical treatment can easily run into thousands of pounds very quickly – and without insurance it will be down to you to pay the bill.

And while we recommend having an E111 – don’t rely on it. While it will help with medical bills it won’t cover things like unused equipment and lift pass days and there won’t be a helpline on hand to support you during your treatment or organise things like your repatriation home.

While our winter sports cover is cheap – it’s highly comprehensive. Unlike many providers we cover off piste skiing and snowboarding automatically – and you don’t even need to be with a guide.

We provide a 24 hour emergency helpline. Plus you’ll be covered for piste rescue, personal liability, piste closure, ski packs, medical expenses and much more. And if your taking your family away then you’ll be pleased to hear that our winter sports cover includes under 18’s for FREE.

Would annual cover be better for you?
If you take more than one holiday – especially if holidays include a winter sports break and a relaxing summer break – then annual cover should work out cheaper and more convenient for you.