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RIFAN Works To Improve Health Insurance Literacy
Health insurance is a path to healthy life and well-being. We have launched this website to provide a repository where people can find key information about healthcare plans, like the costs of premiums and deductible limits.
But for anyone unfamiliar with how health insurance works, it can be really confusing and the time to set up that coverage is fleeting. RIFAN are part of a network of groups that work to help people get health care coverage.
“Everyone’s experience with insurance is a little bit different, and you know, there’s no classroom on how insurance works in high school. So when people become adults and need to figure it out on their own, they really haven’t ever had it explained to them or resources put in their hands where they can figure things out,” says Akin Bello, National Chairman, RIFAN.
Chief Ali, the association’s DG based in Abuja, says because of how the marketplace works, small mistakes can have a huge impact on the kind of insurance rates people can get.
“How your income is counted is one of the big ones, because your income determines the relief package. So you can go from getting a significant medical bill relief to possibly not getting one at all, just because you did not have enough knowledge on how it works,” he explains.
What Is Health Insurance?
Health insurance is a type of insurance coverage that pays for medical, surgical, and sometimes dental expenses incurred by the insured. Health insurance can reimburse the insured for expenses incurred from illness or injury, or pay the care provider directly. It is often included in employer benefit packages as a means of enticing quality employees, with premiums partially covered by the employer but often also deducted from employee paychecks. The cost of health insurance premiums is deductible to the payer, and the benefits received are tax-free.
How Health Insurance Works
Health insurance can be tricky to navigate. Managed care insurance plans require policyholders to receive care from a network of designated healthcare providers for the highest level of coverage. If patients seek care outside the network, they must pay a higher percentage of the cost. In some cases, the insurance company may even refuse payment outright for services obtained out of network.
Insurance companies may also deny coverage for certain services that were obtained without preauthorization. In addition, insurers may refuse payment for name-brand drugs if a generic version or comparable medication is available at a lower cost. All these rules should be stated in the material provided by the insurance company and should be carefully reviewed. It’s worth checking with employers or the company directly before incurring a major expense.
The RIFAN Online Market platform helps individuals and businesses shop for quality insurance plans at affordable rates. Low-income individuals who sign up for insurance through the Marketplace may qualify for subsidies to help bring down costs.
