Medical or health insurance is a product that is designed to reduce the financial risk of an individual in the event of an accident or illness.  There are three main types of health insurance policies that are offered through private health insurance companies: copay plans, deductible first plans, and qualified high deductible health plans (QHDHP). 

Copay Plans: These plans are designed to offer low medical deductibles for services performed outside the doctors office (hospital, ER, ambulance) and low copays for office visits and prescription drugs.  These plans are very attractive for young families that tend to use a lot primary care (office visits, preventative, and prescription drugs). 

Deductible First Plans: These plans are designed to offer a range of deductibles from low to high.  They require that you meet your deductible first for all services including prescription drugs and office visits.  These plans are sometimes referred to as major medical plans.  Typically individuals and families that are not concerned about paying more out of pocket for their primary care will gravitate towards these types of plans due to their great major medical coverage and low premiums. 

Qualified High Deductible Health Plans (QHDHP): These plans are designed to offer high deductibles with a focus on major medical coverage.  These plans are Health Savings Account (HSA) qualified meaning you can voluntarily set up an HSA to pay for all your out of pocket medical expenses with tax-free money. Many of these plans offer an attractive preventative benefit. Individuals and families that are looking a low cost way to insure against major medical (catastrophic) losses and who want to pay for all their health care with tax free money sign up for a QHDHP.   

For a list and information on all the insurance carriers we represent—please click HERE.