Does a lower premium equal a lower out of pocket cost?
Not necessarily, because premiums are only a part of the equation. Focusing on just the monthly premiums could lead you to a higher overall total cost.
Here’s the reality. Traditional insurance hits your wallets in four directions: Premiums. Deductibles. Copayments. Coinsurance.
At Oregon’s Health CO-OP they turned the tradition deductibles and coinsurance upside down. The innovative approach to the SIMPLE insurance is a better way. First, the deductibles are limited to just three service categories: inpatient stays, surgery at a hospital or surgery at an outpatient surgical center. That’s right, that’s it! Then they eliminated coinsurance and instituted predictable, flat co-pay for services. These co-pays start at $0 for covered preventative care. Gone are the days of waiting for the post-care medical bills with the likely surprise of paying more than you bargained for until you hit your deductible.
With a limited deductible plans you get fixed, set priced copayments for medical services. No hidden or mysterious costs. This is why I chose Oregon Health CO-OP as my insurer. With Oregon Health CO-OP’s SIMPLE plans you get an innovative and simple approach to providing health insurance. Just the way I like it.