Insurance 101: What You Need to Know for the New Year
As the new year begins, it’s the perfect time to review your insurance benefits to ensure smooth and uninterrupted access to care. At West Michigan Psychological Services, we want to help you stay informed and navigate insurance as easily as possible. We have a couple of friendly reminders and tips for the New Year!
Common changes to be aware of
- Deductibles Reset: At the start of the year, many insurance plans reset deductibles. This means you might need to meet a new out-of-pocket amount before your benefits kick in. It may be a good time to touch base with your representative or set up a meeting with Human Resources at your work!
- Changes to Employer Plans: Your employer may have updated their insurance offerings, including switching carriers (e.g., from Blue Cross/Blue Shield to Priority Health) or changing plan types (e.g., HMO to PPO).
- Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs): These accounts sometimes renew annually and can provide funds to cover treatment expenses. Now may be a good time to track down your login information and see what will roll over and what will not!
Understanding the terms
Deciphering insurance jargon can feel overwhelming, but understanding a few key terms can make a big difference. To help you feel more prepared, we’ve outlined some basics to equip you with the necessary knowledge before contacting your insurance provider or Human Resources representative.
- Deductible: The out-of-pocket amount you must pay before your insurance covers services.
- Co-Pay: The fixed amount you pay for services before or after meeting your deductible.
- Co-Insurance: The percentage of costs you’re responsible for even after meeting your deductible.
Your to-do list for the New Year
- Review your plan coverage and notify us of any updates.
- Let us know if you have a new insurance card, updated address, or changes to payment information.
We are here for you
Navigating insurance can feel overwhelming, but you don’t have to do it alone. If you have questions or need assistance, don’t hesitate to reach out. At WMPS, we’re committed to supporting you every step of the way and providing exceptional care.
Here are the items we take off your plate:
- Claims filing: We’ll handle filing claims with your insurance once we have all the necessary information.
- Updates: If we receive claim updates from your insurance, we’ll keep you informed.
- Good Faith Estimate: When you begin care with us, we’ll provide a clear estimate of expected costs.
- Payments: Co-pays and session fees will be collected at the time of service or within 48 hours.
For more information, visit us at wmps.net or email us at [email protected].
Thank you for trusting us to be part of your journey. Here’s to a healthy and hopeful year ahead!
