We understand that navigating the insurance maze can be daunting. Insurance companies use terms like, “Copay” and “Out of Pocket” and sometimes their terms can seem like a foreign language. Here are some of the most common terms you may hear and what they mean.
Insurance Premium– This is the cost of your plan, the monthly bill you, or your employer, pays for insurance coverage.
Deductible-This is the amount you pay BEFORE your insurance plan kicks and pays for certain services.
Copay– This is the upfront fee you pay to your doctor for services and office visits. This also applies to some medications.
Coinsurance– This is the amount you pay for services after your deductible has been met.
Total Member Responsibility-The amount that you owe for services AFTER your insurance plan has paid their portion. This can include deductibles, copays and coinsurance.
Out of Pocket Maximum– This the MOST you will be required to pay towards your deductible, copays and coinsurance. When you meet the Out of Pocket Maximum, all eligible charges for medical services are covered at 100% for the rest of the year.
Have questions? Give us a call!
Many of us make a list of resolutions in the beginning of a new year, fresh starts, new beginnings and all, right? Often, keeping those resolutions or goals can be difficult, as we settle into our old habits and patterns. Here are a few ideas to help keep you motivated.
- Keep them realistic. If you make a goal to lose 50 pounds this year, you may be setting yourself up for failure. Start with a more attainable goal that you can achieve in a relatively short amount of time.
- Start with one goal, and write it down. Having a visible reminder can help you stick to it.
- Make new goals, don’t repeat the same one you failed at in the past. Change it up, change your approach and keep in mind that change is a process.
- Don’t wait until the end of the year, or the last minute. Plan a head and keep moving forward.
- Celebrate all small victories towards your goal. This will help keep you motivated and when results are achieved, no matter how small, you will feel like you are accomplishing something and you will eventually conquer it.
Lastly, don’t be hard on yourself or let setbacks get you down. Use your family and friends for support, try using those relapses as learning opportunities towards growth and ultimately, change.
On October 10, 2018 we learned that the Department of Justice (DOJ) will allow CVS Health’s acquisition of Aetna to proceed.
Under the DOJ consent decree, closing of the CVS Health-Aetna transaction may proceed prior to the effective date of Aetna’s previously announced divestiture of its entire standalone Medicare Part D business to a subsidiary of WellCare Health Plans, Inc.
You do not need to do anything new or different as a result of this announcement. Aetna and CVS Health will continue to operate as separate companies until the CVS Health transaction is complete.
While the DOJ decision is an important step toward finalizing the CVS Health transaction, closing remains subject to certain state regulatory approvals and satisfaction of other closing conditions. We continue to expect the CVS Health transaction to close this year.
We value our relationship, and will keep you informed every step of the way in accordance with the terms of our current agreements.
Source: This message is for informational purposes only, is not medical advice and is not intended to be a substitute for proper medical care provided by a physician. Information is believed to be accurate as of the production date; however, it is subject to change. For more information about Aetna plans, refer to aetna.com.