Do YOU understand health insurance?

How well do you understand health insurance benefits? There is a lot of information!

 

Recently, a healthcare economist at Carnegie Mellon University did a study on how well individuals with health insurance actually understood their benefits. 202 people who had employer-sponsored health insurance took a 4-question quiz on defining the most common health insurance terms.

 

(If you’d like, we encourage you to challenge yourself to take the quiz here! It will only take a few minutes and no personal information is required. Answers are at the bottom of the article.)

 

How well did you understand health insurance benefits?

 

If you are like the majority of quiz-takers, you got at least one question right, but you likely did not get all of them correct (only 14% did).

 

Never has it been more important to understand health insurance than in the complex health insurance climate of today!

 

As you are starting to shop for your 2014 healthcare coverage, or if you just want to know more about benefits, we wanted to give you some important tools in the articles below.

 

Glossary of Health Insurance Terms – Defines the most common health insurance terms and provides examples.

 

Questions to Ask to Understand Health Insurance Coverage Costs – Helps you prepare for the costs associated with getting health care.

 

Questions to Ask when You Shop for Coverage – Helps you ask the right questions so you can find the best healthcare coverage for you and your family.

 

Essential Health Benefits and the ACA – Shows you what your health plan coverage could look like in 2014.

 

Understanding Your Insurance Explanation of Benefits (EOB) – Helps you to understand how to read the document you get after going to the doctor, and understand how the charges are shared between yourself and your health insurance carrier.

 

Benefits of an HSA: Don’t be intimidated – a Health Savings Account can be a great tool! Learn more with this article.

 

As always, if additional questions arise, do not hesitate to call your health insurance carrier for clarification.

 

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