How Health Insurance Works in Miami, Florida

How does insurance works?

Regardless of any plan you decide to choose, you have to make your monthly payments (premium to maintain the coverage of your health insurance.) Also, you may have to pay for the times you receive medical attention (whether co-insurance or co-payment.)  Generally, as you pay expenses, your out-of-pocket amount reduces.

Premium and deductible in Miami Florida

Health Insurance Premium Deductible

When considering health insurance plans, the big difference lies in the services that are offered as well as the incentives. Along with some plans, a specific amount has to be paid when each service is provided; this is known as co-insurance, or cost- sharing.

In addition, you will pay partly for the health care services until you have reached your “maximum out-of-pocket”( which is a specific amount set by the health insurance company.) Then, the rest of the expenses will be paid by the insurance company.

When can I enroll?

You may register only during the specified period for registration, which is the open enrollment period. If for any circumstances, you do not enroll during the open enrollment, you may do so during the Special Enrollment Period. But only if you qualify for it. See the list of qualified life events –which includes; change of address, change of job, birth of a baby, marriage, and more – take a look and see whether this option could possibly suit you.

Discount Plans might be another option which may be used temporarily until the open enrollment period comes along.

How much is health insurance?

It depends on your Age, zip code, and how many members of the family will receive the benefit of the health insurance plan. Also, there are different categories of plans.

A recent study by ehealth nationwide, provided the results below about the amount of money that subisized shoppers are spending on premiums and deductibles:

  • Premiums for individual coverage  $321 per month as average
  • Premiums for family plans averaged $833 per month
  • The annual deductible for individual plans average was $4,358
  • While average deductible for family plans was $7,983