In order to help you pick your perfect Texas Health Insurance [http://www.peelerinsurance.com] company, it would be very helpful if you understand the common terms used in the insurance industry. This is also important so that you will not easily fall prey to unscrupulous individuals or companies whose main goal is to defraud people. When you hear the broker say premium, it is important for you to know that what is being talked about is the amount of money that you need to pay monthly in order to keep your policy in effect. It is also worth noting that insurance companies compute premiums depending on various factors, which include lifestyle, current health status, and even medical history.

Co-payment and coinsurance are also terminologies used in health insurance that can cause some misunderstandings. When you say co-payment, this usually means that there is a fixed amount that you are required to pay for a certain medical service. For example, $30 co-payments for visits to a doctor means that you need to pay $30 whenever you see a doctor. In Texas health insurance, co-payments for doctor visits usually range from $20 to $50 each. Coinsurance, on the other hand, is an amount of money that you need to pay for a medical service. The amount that you are responsible for in coinsurance is usually expressed in percentages and is not fixed like in co-payments. For example, 20% co-insurance for hospital expenses means that you need to pay 20% of the total cost of your trip to the hospital.

Deductibles are also common in Texas health insurance. A deductible is basically the amount of medical costs that you need to pay before the insurance company begins covering you. If you want to enjoy lower premiums then you must agree to higher deductibles. For example, if your deductible is $600, then you need to pay the first $600 in medical expenses and hospital bills before the insurance company will start covering you.

When getting a plan, it is quite impossible for you not to hear about Texas High Deductible Plans(HSA). Basically, HSAs are financial tools, which usually works in conjunction with Texas High Deductible Health Insurance Plan designed to help make healthcare services less costly. All of the money that you put in your HSA is free of tax. However, you can only avail yourself of HSA if you own a high-deductible health plan. For quotes and additional information about individual health insurance in Texas, go to our Texas Health Insurance website.