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PAL Finance Group, LLC

985 Amicks Ferry Rd
Chapin, SC 29036

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Health Insurance 101: For the First Time Buyer

Health insurance plans are notorious for being confusing and leaving people with more questions than answers. If you’re a first-time buyer of health insurance, there’s a lot to know and understand when selecting a plan. 

If you’re shopping for health insurance in Chapin, SC, PAL Finance Group LLC has a team of experts who can give you all the details and information you need. 

I’m Healthy – Why Do I need Health Insurance?

The most important reason to have health insurance is for preventative care. People often think that because they’re healthy and rarely get sick, they don’t need health insurance. This couldn’t be farther from the truth. Preventative care means you have access to a general practitioner (GP) for annual exams, medication in the event that you need it, routine bloodwork, and a professional to rely on should you get sick.

Staying proactive about your health now means you’re also avoiding potentially expensive and life-threatening issues later on. Realistically, you’re saving money by utilizing a health insurance plan now so you don’t need major medical attention later in life. 

Life is unpredictable and things happen— even injuries. Nobody plans to get injured or sick… but it does happen. You’ll want to be covered in the unfortunate event that something happens to you or a dependent and you need to seek medical care. At that moment, you won’t regret having a health insurance policy plan for protection.

If you’re convinced that health insurance is in your best interest, contact PAL Finance Group LLC in the Chapin, SC area and we’ll be happy to discuss our plans and find the best fit for you.

7 Top Health Insurance Terms You Should Know

Making Sense of Your Health Insurance

Your health insurance plan may not always be the easiest to understand. It can have a confusing language that may leave you wondering what you even have covered.

At PAL Finance Group LLC of Chapin, SC, we know it can be not very clear to understand all the life insurance terms. We have agents who can help walk you through your policy coverage to feel confident knowing all the details.

Understanding Key Terms

There are many different terms used in health insurance that describe the many different functions and actions of your policy. Here is a list of some standard words you may hear:

  • Insurance Copay – This is a fixed amount that is required at the time medical services are provided.
  • Deductible – Amount the insured must pay yearly before medical benefits can be accessed.
  • Lifetime Maximum – This is the complete amount that will be paid for a particular service.
  • Coordination of Medical Benefits – When two health insurance plans are used with four services.
  • Prior Authorization – Review and authorization for a particular specialist type of medical service. 
  • Employer Waiting Period – The time it takes to determine the eligibility of insurance by an employer for an employee.
  • Health Provider Networks – Predetermined service providers in a healthcare plan.

Your Trusted South Carolina Insurance Agents

Contact us at PAL Finance Group LLC of Chapin, SC to schedule an appointment to speak with one of our representatives about the ins and outs of your health insurance coverage. If you need health insurance or any other kind of coverage, we have a range of options we can discuss with you. We look forward to helping with your insurance needs.