The health insurance system can get pretty complicated. Despite over 90% of Americans having health insurance, more than 100 million carry medical debt. Typically the point is to pay some money every month, so when you have an accident or sickness strikes your medical costs aren’t so expensive, so they bankrupt you. But what we observe in social media is that people get overwhelmed and confused by all the aspects, so we combined everything you need to know to choose the right option Premiums and Deductibles The most important terms in health insurance are Premiums and Deductibles. Premium: This is the cost of maintaining your insurance policy. Higher premiums may mean better or more comprehensive coverage. Lower premiums often come with higher deductibles or limited coverage. A health insurance policy with a $500 monthly premium will stay active as long as you keep paying $500 each month. Deductible: The deductible is the amount you agree to pay out-of-pocket before your insurance kicks in to cover the rest. It charges you per year or per accident, depending on the type of policy. If you have a $1,000 deductible on a $5,000 expense, you pay $1,000, and your insurer covers $4,000. Bronze, Silver, Gold, or Platinum? The next thing to consider are the so-called metal plans: bronze, silver, gold, platinum. These "metal tiers" help you compare the costs and coverage of different plans based on your health and financial needs. Let’s break it down. Bronze plan: Who it’s for: Best options for healthy individuals or families that need minimal healthcare and need to have lower premiums and are ready for out of pocket costs. Coverage split: In case of accident Insurer pays about 60%, and you pay 40% of healthcare costs. Use case: Best for people who rarely visit doctors or have no chronic conditions but want coverage for emergencies or catastrophic events. Silver plan: Who it’s for: For those who visit the doctor a few times per year, need prescriptions and want coverage for unexpected situations. Coverage split: Insurer pays about 70%, and you pay 30% of healthcare costs. Use case: Ideal for families or individuals who need regular doctor visits or prescriptions without paying the highest price. Gold plan: Who it’s for: For people that want to use medical services more often and are fine to pay higher premiums to avoid a larger out of pocket cost. Coverage split: Insurer pays about 80%, and you pay 20% of healthcare costs. Use case: Best for families who have members with chronic conditions and need to use medical care more often. Platinum plan: Who it’s for: For people who need it. Coverage split: Insurer pays about 80%, and you pay 20% of healthcare costs. Use case: Best for families who have members with chronic conditions and need to use medical care more often, or expensive medications. 📊The percentages listed are estimates of the plan's share and your share of costs when you get covered services. HealthCaregov Tip: Compare and make sure your plan provides comprehensive coverage for everyone, including children, elderly parents, or dependents with special medical needs. How to organise the medical documents for each family member? Now after you chose and purchased the best plan for your family, the question is, how to make it well organised and available to each member of this policy. The challenges of managing family insurance documents Lost papers: Insurance cards, policies, and medical records are often kept in different places and can be lost if you give the originals to other family members or during moving to another place. Missed expiration date: If you forgot about expiration date, you will pay 100% of your medical expenses in case of an accident. Sharing documents: For family policies that are covering 4 people or more, it can be problematic for each person to have it at the same time and it can lead to unnecessary delays. How Hubmee Solves These Problems Keeping everything organised for you and your family is very stressful and time consuming. Moreover it is totally unnecessary for now because you can delegate it to a digital assistant app. What Hubmee can do for you: Document management: Do not look for your health insurance among, property, vehicles and pet’s docs, you will have a separate place in Hubmee. Expiration alerts: After you uploaded Family Insurance Humee will show you the expiration date and will warn you when it’s going to expire soon. So you won’t find yourself in a situation where you need to pay an enormous amount of money, just out of your own pocket. Shared access: In case someone of the policy members will need an insurance copy, you can just share it and it will show up in their Hubmee app or computer.
