How well do you know the ins and outs of your health care?

Nice try! Health insurance premiums are actually the amount you pay every month to an insurance company for health coverage. Think of it like a gym membership – it’s what you pay to be a member and can vary based on what’s included and covered.

Close! Throughout a calendar year, the fees you acquire for health services are added towards reaching your deductible total. Once the deductible is reached, the health insurance company will pay for the services needed. For example, you start with a deductible of $2,000 each year. After a few visits to the doctor and medical tests, you have paid $500 towards your deductible of $2,000 in August. In September, you end up needing knee surgery, which costs $10,000. Rather than paying the full amount, you are responsible for paying your remaining deductible of $1,500, then the insurer covers the rest or a portion (if you have coinsurance) until next year when it starts all over again.

Nice try! When you visit your doctor, the amount requested at the visit is a set amount designated by your plan. This amount typically ranges from $25-$50 for a scheduled doctor visit.

Not quite! Urgent care centers may be a great economical, convenient option when you’re experiencing a non-life-threatening medical situation and can’t get into see your regular doctor. Remember, in the case of an emergency, dial 9-1-1 or visit your local ER for immediate assistance.

Nice try! An EOB is your Explanation of Benefits, or your statement that shows what services your medical care insurance pays for, services not payable by insurance and why, and any charges you may owe for services received.

Almost! A health savings account (HSA) is a useful tool to prepare for current and future health care expenses.  HSAs work with qualified high deductible PPO and HMO health plans.  You can decide how much to put in the account every year (up to $3,400 for an individual, $6,740 for a family in 2017) and use to pay for IRS defined qualified medical expenses.  Two things to remember, your funds roll over year-over-year without limit and your funds are put in tax free, grow tax free and can be withdrawn tax free for medical expenses in the present and throughout retirement.

Nice try! Although family and social media communities are great places to start for recommendations, the best place to identify if your current or new doctor is covered under your plan is through a health insurance website or mobile app, like bcbsm.com. Utilizing tools like Find a Doctor can drastically help you zero in on the best doctor to fit you and your family’s needs. You should always reach out to the doctor directly to see if they are covered, as well.

Very close! Preventive screenings are covered 100%. You won’t have to worry about a copay, coinsurance or your deductible, as long as you see an in-network doctor and your visit is just about preventive care. Always confirm which services are covered as a preventive care benefit on bcbsm.com. Many services may seem “preventive” but are not, and thus not 100% covered.

Nice try! Brand name drugs are usually what people think of when they have a health issue because these are seen in TV and magazine ads. However, generic drugs are less expensive but are just as effective. Generic drugs are thoroughly researched and must be proven to be just as safe as brand-name drugs and approved by the FDA in order to hit the market.

Nice try! Selecting an in-network vs. out-of-network doctor can drastically affect how much you pay for your health care services. Your network is determined by your plan, and if you select care outside of your network, you could end up paying a larger percentage of the cost or the total cost.