Health insurance FAQs

Your health is one of the most important gifts you have. Being able to get the preventive care you need helps you to preserve that gift. Finding the right health insurance is not easy, and you can use all the help you can get. At Bye Financial Group LLC in Grand Ledge, MI, we are an independent agency with more than 20 years of experience. We have the expertise to help you to choose a plan that can give you the coverage you need at a price you can afford.

How are an HMO and a PPO different?

Both an HMO and a PPO are types of managed healthcare. You will choose a primary care physician, and they will help to manage your healthcare. With an HMO you are required to choose your primary care doctor and other healthcare providers from within the plan network. Only in an extreme emergency will a service outside the network be covered. With A PPO you also have a network, and you will pay less if you choose healthcare within the network, but you can also choose outside for an additional cost. 

How can I make the most out of a high-deductible health insurance plan?

A high deductible healthcare plan will be less expensive than a lower deductible plan. But you should qualify to have an FSA so you can save money to pay medical expenses pre-tax. 

What is a network?

A network is a group of healthcare providers who have a contract with an insurance plan to provide services to members at a reduced rate. 

How does a formulary work?

A formulary is the list of prescription drugs an insurance plan covers, and it assigns co-pays and deductibles to both generic and name-brand drugs.

Call or stop at Bye Financial Group LLC in Grand Ledge, MI for all your health insurance needs.