Health Insurance – Frequently Asked Questions (FAQ) – Part III
It is always good to have some basic knowledge of a subject before you have to make a major decision. Take health insurance. Constantly in the news. On TV, on radio, in magazines and newspapers. All the political candidates have it on their agenda. It touches the lives of us all. Does not matter if you are insured, uninsured, underinsured or uninsurable.
It is surprising how many individual do not understand basic health insurance terminology. I have attempted to list a few of the more common frequently asked questions. I've broken them down into a series. Here is Part III.
Q: "What is short-term health insurance?"
Short-term health insurance can provide you with major medical coverage for a limited period of time. It is ideal for those individuals who are between jobs, recent graduate or someone waiting for other health insurance coverage to begin. Typically, short-term health insurance plans offer coverage up to six months, with some plans offered up to 12 months.
Q: "What is a drug formulary?"
A drug formulary is a list of all the prescription drugs that are covered under a health care plan.
Q: "Are all prescription drugs covered under a health care plan?"
Generally, the only prescription drugs that are covered will be those prescribed drugs used to treatment an illness or injury less any applicable deductibles and coinsurance. Contraceptive drugs and nicotine chewing gum are examples of prescribed medications that are usually not covered.
Q: "What is a Discount Card?"
A Discount Card provides you with a great way to save money on your dental, vision, and / or chiropractic needs. Depending on your Discount Card, you can enjoy discounts of up to 50% with some national networks of leading service providers. Usually there is a simply application to complete and then you should receive your card in the mail in a few days. To use your card, simply locate a service provider in the network, present your card to the provider at the time of service and get instant discounts. A Discount Card may provide you with a valuable, inexpensive alternative or supplement to a standard health insurance plan.
Q: "Is a discount card considered insurance?"
No. Discount cards do just that – they provide discounts for health care services or prescription drugs. They give you and your family preferred rates from selected health care providers. You are still responsible for all costs beyond the discount. A discount card does not provide you the protections of an insurance policy.