By Ramsey Purvis
We hear it often: health insurance can be confusing. That’s why we’ve put together an online tool and other materials that explain basic insurance terms and concepts to help our members understand their health plans and benefits and how they work with the healthcare system.
Our Guide to Understanding Health Insurance is the first in a planned new series of materials that offers easy-to-understand definitions and explanations of concepts like out-of-pocket maximums and health savings accounts (HSAs). You can access this valuable new resource online at arkbluecross.com/healthbasics.
Learning the ins and outs of health insurance can help our members feel more prepared when making decisions for their health and well-being. Being familiar with the terms our customer service representatives may use can improve how members ask for and receive help.
The urgency of intervention
Not understanding health insurance is costly to our members and their employers. A recent Health Insurance Literacy Survey from healthcare.com found that 26% of Americans report that not understanding their health insurance led to higher medical bills. Another study found that people who don’t understand their health insurance are more likely to make ER visits, have more inpatient stays, experience higher mortality rates and be less compliant with their treatment plans.
This guide will explain big picture concepts that readers need to understand their plans as well as specifics on different types of ancillary insurance such as dental, life, and disability. This guide provides answers to the tough questions of when, where, why, and how to get health insurance before you are in a time of need. It’s very important to understand your plan so when the time comes to make decisions, you can be informed with all the necessary information and feel confident in your plan for care.
Check out Our Guide to Understanding Health Insurance today.