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4 things you need to know when purchasing a healthcare policy.

Happy fall everyone up. Went for a walk this morning and thought I would show this photo. The colors are spectacular! As AEP is fast approaching, October 15th, I wanted to ensure you understand 4 terms and the cost associated with them when your explore health plans; Health Premium, Health plan deductible, out of pocket maximum and coinsurance.

What is the health premium? This is the amount you pay for your health insurance every month. You have several options depending on your circumstances to explore and compare cost.

What is a deductible? The amount you pay for covered health care services before your insurance plan starts to pay. A $2,000 deductible, for example, you pay the first $2,000 of covered services yourself. A fixed amount ($20, for example) you pay for a covered health care service after you've paid your deductible.

What is out of pocket maximum? This is themost you have to pay for covered services in a plan year. Once you reach the maximum all your healthcare benefits are covered.

What is coinsurnance? This is the percentage of costs of a covered health care service you pay (10%, for example).

Reach out to me as I am here to help. Check out my Medicare enrollment website. You can explore all the various plans available to you. If you have questions, my contact information is provided.

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