Health Insurance Plan? Sorry, I have to vacuum.

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Health Insurance Plan? Sorry, I have to vacuum.

 

 

 

 

 

 

 

 

 

 

 

It’s confusing, it can be pricey, and there are several household chores you’d rather do, than deal with it… It’s your health benefits. But don’t worry, you can do this. You might even learn something useful! Consider this your Health Benefits 101.



What is a health insurance plan? Your health insurance plan is a contract with rules between you and your health insurance company. It is sometimes called a health insurance policy or health plan.

A health insurance plan is essentially an agreement that requires an insurance company to pay for some or all of your health care costs. You agree to pay premiums to the insurance company in exchange for being insured.

If you don’t have a health insurance plan, you will generally have to pay the full cost of medical care, dental services, and other health care expenses. In the United States, paying for health care when uninsured can be very costly.

To be insured by a health insurance plan, you must be covered by an employer’s group health insurance, or be covered by an individual health insurance plan from an insurance company, such as insurance available through the government marketplace HealthCare.gov.


But wait, there’s more. This is a general description of a Health Insurance Plan, but that isn’t all of it. Check your Summary Plan Description (SPD) from your health insurance company! It contains what you need to know about the specific rules of your plan.

If you want to know rules about any of our Employee Benefits Corporation plans, please check the specific Plan's Summary Plan Description (SPD) by logging in at www.ebcflex.com to access it. There, you will also find other helpful information that explains the specific rules for your BESTflexSM Plan flexible spending account (FSA), EBC HRA,SM or SimplyHSA; the benefits that give you ways to save pre-tax money on your healthcare expenses.

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