October 13, 2006, Newsletter Issue #48: Short-Term Insurance Co-Payments

Tip of the Week

If you are acquiring short-term health insurance plans, you should know that they almost always function under a fee-for-service model, which means you will have to pay a variable co-insurance rate for health care goods and services received. Each company is different, and even different plans offered by the same company will vary, but generally speaking you can expect to pay coinsurance anywhere from 20%-50%. If your policy has a traditional 80/20 split, the insurance company will pay 80% of the charge for goods or services, and you would have to pay the 20% balance. Most health care providers expect payment of coinsurance at the time of service, although some may bill you after the fact.

About LifeTips

Now one of the top on-line publishers in the world, LifeTips offers tips to millions of monthly visitors. Our mission mission is to make your life smarter, better, faster and wiser. Expert writers earn dough for what they know. And exclusive sponsors in each niche topic help us make-it-all happen.

Not finding the advice and tips you need on this Health Insurance Tip Site? Request a Tip Now!


Guru Spotlight
Heidi Splete