An accident that requires an Emergency Room visit is frightening and even if we or our loved one is expected to make a full recovery, you may find yourself still filled with anxiety. Many people worry or get anxious that an ER visit will lead to a bill that they cannot afford. Here at Empower Financial Group, we understand the fear of medical debt. We have many Florence, KY and surrounding area clients who want to know just how much they expect their health insurance policy to pay out following an ER visit.
The Factors Determining How Much a Health Insurance Policy Will Pay for an ER Visit
How much your health insurance policy will pay out following an ER visit will depend upon certain factors or aspects of that policy. Let’s take a look at some of the big ones:
- In-Network vs. Out-of-Network. Whenever possible, you should check to see whether the ER facility you’re going to is listed as within your healthcare network. In-network healthcare facilities have negotiated rates with your insurer, leading to lower costs overall. In contrast, an out-of-network facility is apt to lead to more expensive costs both for you and your insurer.
- Reason for visit. Some healthcare policies will use the reason for the visit to determine how much they’ll cover. Visits that are deemed not an actual emergency or could be better treated elsewhere may not be fully covered by an insurance company.
- Deductible. Most health insurance policies are going to have a firm deductible. The deductible is the listed amount you will be expected to pay before the insurer pays anything. Check your insurance policy to see whether there is a deductible listed for in-network and out-of-network ER visits.
Get Quality Health Insurance Policy for Your Needs
Here at Empower Financial Group, our goal is to get our Florence, KY and other Kentucky community members the right insurance for their needs and budget. Call us today to get started.