What does out-of-pocket maximum mean?
Out-of-pocket maximum is normally the maximum financial exposure an insured member will have in a calendar year. It sometimes includes, or is in addition to, the calendar year deductible. In some cases, certain expenses may not count toward the out-of-pocket maximum (i.e., prescription drug co-pays). What does in-network and out-of-network mean? In-network doctors and hospitals provide negotiated or discounted rates to health insurance company members. Out-of-network providers are not contracted with the health insurance company, meaning members would not receive discounted rates and would be required to pay more for services. How would I know which individual and family health plan to pick? There are many options to choose from, and individuals will need to evaluate their budget and needs to select the right plan. Additionally, individuals will need to research which heath insurance companies their doctor is contracted with and what is best for their overall situation. You can start b
