Health insurance terms you need to understand

Health insurance coverage is one of the most important types of insurance. That makes it so stressful to choose the one that is right for you. At Associated Insurance Agencies Inc. in Westerville, OH, our dedicated team will work with you to ensure that the insurance you purchase is the one you need. As an independent insurance agency, we provide the most choices of carriers and policies. 

Managed care

Managed care is a type of healthcare where the doctors and healthcare providers members are allowed to visit are restricted. Depending on the type of managed care you have, you may not be able to go outside the network for anything but an extreme emergency. In others, you are allowed to go outside the network but will pay more to do that. You must follow the rules of the type of plan you choose. 


The deductible is the amount members must pay out of pocket before their health insurance begins to pay the designated amount for that service. If you have a plan with a high deductible, you may be eligible to have an HSA (health savings account), which allows you to save tax-free for medical expenses. 


The copay is the portion of the cost for any service that you pay after you have met your deductible. 


The network is made up of healthcare providers who have contracted to provide services to members at a discount price. With some plans, these are the only providers you are allowed to see. 


The formulary is the list of prescription drugs the health insurance pays for. It is listed in tiers by price. 

Contact Associated Insurance Agencies Inc. in Westerville, OH, to discuss our health insurance options.