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Understanding Deductibles in Health Insurance
Definition of Deductibles in Health Insurance A deductible is the amount of money that a policyholder needs to pay out-of-pocket for healthcare services before their insurance plan starts covering the costs. Essentially, it is the portion of the healthcare expenses that the insured is responsible for paying before the insurance company takes over. Deductibles are typically calculated annually, so policyholders…
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Understanding HMOs – A Comprehensive Guide
How HMOs Differ from Other Types of Health Insurance Health Maintenance Organizations (HMOs) differ from other types of health insurance plans in several ways. Unlike traditional fee-for-service plans, HMOs typically require members to select a primary care physician (PCP) who acts as a gatekeeper for all healthcare services. This means that a member must first see their PCP for any…
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