Health Insurance - General

Navigating the world of health insurance can be confusing, especially with all the technical terms. Here's a breakdown of some common health insurance terms to help you make informed decisions:

• Premium: The monthly fee you pay for your health insurance coverage.

• Deductible: The amount you pay out-of-pocket before your insurance starts covering costs.

• Co-pay: A fixed amount you pay for specific services, such as doctor visits or prescriptions.

• Co-insurance: The percentage of costs you pay after you've met your deductible.

Here at J. Randal Insurance, we're dedicated to informing our community about various insurance options and potential pitfalls. Today, we want to raise awareness about discount health care programs, often marketed as "cheap" alternatives to traditional health insurance. While they can offer some benefits, understanding their limitations and potential for fraud is crucial.

Discount programs are not insurance! They don't cover deductibles, copays, or pre-existing conditions. Instead, they provide discounts on services from participating providers, but you still pay the full discounted cost upfront.

Benefits for the uninsured: If you have no health insurance, programs can help decrease out-of-pocket expenses.

Important considerations:

• Verify registration: Programs must be registered in your state, so check with the Texas Department of Insurance (TDI) before buying.

Health insurance is a vital part of staying healthy and financially secure. In Texas, there are a number of different health insurance options available, so it's important to understand your choices and find the best plan for you.

Here are some things to keep in mind when shopping for health insurance in Texas:

• The Affordable Care Act (ACA): The ACA, also known as Obamacare, is a federal law that requires most Americans to have health insurance. The ACA also provides subsidies to help people afford health insurance.

• Medicaid: Medicaid is a government health insurance program for low-income individuals and families. In Texas, Medicaid is administered by the Texas Health and Human Services Commission (HHSC).

• CHIP: The Children's Health Insurance Program (CHIP) is a government health insurance program for children in low-income families. CHIP is administered by HHSC.

• Private health insurance: There are a number of different private health insurance companies…