When it comes to Daytona Beach, Florida health insurance the key to finding a great deal is to understand the components of FL health insurance. There are many terms and exclusions within health insurance plans that can be confusing. To make sure you are getting your best deal, review the six major components of a typical health insurance plan. After this, you will be able to ask questions and find the Daytona Beach health insurance coverage that is right for your needs as a Daytona Beach and Florida resident.
Component #1: Physician and Clinic Costs
The majority of the cost of Florida health insurance premiums will be spent on physicians and visits to clinics. The number of clinics in the United States has increased by over 5% in the last two years. This is due to many different factors. One factor is the fact that many Americans want quick treatment for aliments or illnesses that may arise in them or their children. They don’t want to wait for a traditional type of appointment at a doctor’s office. Increasingly, parents in particular are saving traditional appointments for immunizations, school check-ups and wellness visits.
Another reason for this recent increase in the number of clinics is because some insurance plans require that you go to a clinic in order to save money on an appointment. If a clinic appointment does not meet your needs, you may then have to gain permission to see another doctor or a specialist. Clinics are a good choice for basic needs or after hours needs.
Knowing that physician and clinic costs make up the majority of your monthly premium should help you to understand that there are lots of requirements and rules for visits within a particular insurance plan. Make sure when you are shopping for any Florida based health insurance, you understand what physician and clinics you can visit and what co-pays or other requirements there may be.
Component #2: Hospital In-Patient Services
The second most expensive component of a Florida health insurance plan is hospital in-patient services. This covers surgeries that require a hospital stay, maternity costs, emergency hospitalizations and emergency room visits. It has been estimated that this makes up about 25% of the cost of a premium.
Some people are tempted to take this type of coverage out of an insurance policy in order to lower a premium. They feel it is most likely a rare case that would require hospitalization. But having this type of coverage is very important. Just a ride to a hospital in an ambulance can cost someone without hospitalization coverage over $800.
Knowing that hospital in patient services make up a large percentage of a premium should tell you that insurance companies take this type of coverage very seriously. Before choosing a plan, make sure you know what the limitations are when it comes to hospitalization coverage such as what hospital you have to use, and what types of rooms you are able to stay in.
Component #3: Hospital Out-Patient Services
The third most costly component to health insurance coverage is hospital out-patient services. With the many increases in the development of less invasive surgical procedures, out-patient services have increased greatly over the past several years. Procedures such as laparoscopic surgery make many surgeries that use to require hospitalization now out-patient procedures. This means you arrive at the hospital in the morning, have your procedure and leave that same day.
Insurance companies are aware of the increase in these types of procedures so they have increased their policies concerning hospital out-patient coverage. Be sure to understand what types of procedures are covered and what an extended stay period may cost you, should you need it. Also check to see if follow up visits after an out patient procedure are covered.
Component #4: Prescription Drugs
Prescription drug coverage makes up about 13% of the overall cost of an insurance premium. This has increased significantly in the last couple of years. This increase is due to the shear number of new drugs that are released every year. Whereas, in the past, physicians may have tried other remedies before going with a prescription, now they are prescribing drugs at increased rates.
Having prescription drug coverage is one of the most important components for the insured. Many Americans who do not have prescription drug coverage go without much needed prescriptions or cut their pills in half to make them last longer. This is unfortunate so making sure this component of your health care coverage is clear to you is very important. Make sure you ask any questions you have about prescription coverage when shopping for health insurance.
Component #5: Additional Medical Services
The last medically driven component of a health insurance plan is additional medical services. This includes medical services such as x-rays, lab work, MRIs, CAT scans, and biopsies. These services only make up for about 5% of coverage but they are still an important part of an insurance plan.
Having these types of services covered is crucial because they are often the catalyst in determining and diagnosing more serious medical problems. For example, blood work can determine any number of diseases while x-rays and MRIs can often find tumors and other conditions. Make sure you understand what the requirements are for any additional medical services you or your family may need.
Component #6: Administrative Costs
The final component of a health insurance plan is administrative costs. Administrative costs include communicating with the insured, intervention programs, wellness promotions, sales, marketing, government compliance issues, processing payments, and processing claims. This is the only part of a health insurance plan that the insured cannot decide to go without.
Administrative costs make up about 9% of an overall premium costs. Because of this, the government is increasingly trying to take the whole medical system in American to the next level. Making all records digital and accessible to any physician, clinic, or insurance company is a huge undertaking but should this come to fruition, it would greatly decrease administrative costs overall.
Now that you understand the components that make up a typical health insurance plan, you have a better understanding of what to look for when choosing a plan. You can use the comparison tool on this page right now to compare quotes and rates from top companies to find the best coverage for you and your family.
Daytona Beach Health Insurance Quotes Online
If you still have some questions about Daytona Beach health insurance, you can contact one of our independent agents who can answer any questions you may have about any of these components. Find the Florida health insurance plan that is right for you and your family today by inputting your zip code above and finding a great plan for your needs. Get started comparing free Daytona Beach health insurance quotes today!