Why Is It Important to Have Health Insurance in New Jersey?

Now that the new health insurance laws are in place, people are seeking help in making sure they are covered. While no one wants to think about becoming ill or injured, chances are, you will at some point in your life. If you are uninsured, a three-day hospital visit could end up costing you as much as $30,000 or even more. A prolonged illness could set you back more. This is why it is imperative you have Health Insurance in New Jersey. Without it, you could be facing an expensive risk.

Without health insurance coverage, you could have difficulty affording the health care you need during an illness. Though there are costs involved in purchasing and maintaining a policy, they are much less than what you would pay, should you need care for a severe illness, surgery or prolonged therapy. This information will give you a break down of each portion of your costs, so you will understand them better.

• Your premium is your monthly payment amount paid to your insurance provider. This keeps your policy in good standing and continues the contract between you and the provider. As long as you pay your premiums, the carrier promises to pay a portion of your health care costs.
• The deductible is the amount of money you will pay for your medical care out of your own pocket. This is the amount you are required to pay before the insurance policy kicks in and begins paying. The lower your deductible, the higher the cost of premiums.
• A co-payment is the amount you pay for each doctor visit or prescription. This is a set amount and is the only payment you will be required to make, after you have met your deductible for the year.
• If your policy offers coinsurance, you will pay a certain percentage of each medical bill. This percentage varies among policies. It is important to purchase cosinsurance with the least percentage amount you can afford.

If you are in need of Health Insurance in New Jersey, check out this website. Visit Rosenthalinsurance.com and allow them to assist you in purchasing the perfect health insurance to fully meet your needs and budget.