THE TWO “COSTS” OF HEALTHCARE The first is the premium cost to have health insurance. The second is the cost associated with using it. If it is affordable but unsuitable due to high deductibles, co-insurance, and out-of-network charges then it is really not a manageable plan. Central Choice products include cost effective supplements to fill gaps left open with other products including both qualified major medical as well as limited benefit plans. One of two possibilities will occur for you this year; you will either be hospital confined, or you will not. It is unlikely that many of us will exceed our deductible in a year without a hospital stay. So, in most years we wind up paying our insurance premiums and most or all of the cost of our treatment. But, if and when we are hospital confined, the high cost of treatment will likely have us reach the maximum out-of-pocket threshold of any qualified major medical plan level for even a relatively short confinement. THE IMPORTANCE OF CENTRAL CHOICE AS SUPPLEMENTAL COVERAGE Our Premier Choice and Select Choice package designs each feature a variety of both inpatient as well as outpatient benefits, including surgery. Central Choice benefits can be paid to any hospital or doctor and when First Health Network providers are used additional savings through negotiated discounts may be available. What are now referred to as “qualified plan designs” feature deductible and coinsurance exposure over $6,000 per person per year. This is above the premium cost. Many see the merit of purchasing the “qualified” Bronze plan and using the premium difference between that and more expensive designs to purchase supplemental insurance to “fill the gaps.”
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