Health Insurance 101: What You’re Really Paying For

Understanding your health insurance costs can give you peace of mind, protect your finances, and help you make choices that actually fit your life.

For many people, choosing a health insurance plan feels like guesswork. You see the premium, maybe glance at the deductible, but the rest? It’s murky, and sometimes overwhelming.

At Sentinels Financial Group, we believe clarity is power. Whether you're protecting your family, your employees, or yourself, you deserve to know exactly what you’re paying for and why it matters.

Let’s break it down, together.

What Are You Actually Paying For With Health Insurance?

When you pay for health insurance, you’re not just buying a plan. You’re buying access, protection, and peace of mind. And when you understand how each part of your policy works, you can stop worrying about “what if?” and start feeling in control.

Here’s what you need to know about how to understand health insurance costs.

The Monthly Premium: Your Ticket to Coverage

Your premium is the monthly amount you pay to keep your policy active. It’s like a membership fee. It doesn’t cover every medical service, but it gives you access to a healthcare safety net when life throws something your way.

A lower monthly premium might sound appealing, but it usually comes with a higher deductible. That trade-off might work for some, but not for everyone. That’s why we take the time to look at your needs, not just your numbers.

The Deductible: The First Hurdle

This is the amount you’re expected to pay out of pocket before your insurance begins to share the costs. If your deductible is $2,500, you’ll be responsible for that amount before your plan steps in, unless it's for preventive care, which is often covered from day one.

This is where a lot of people feel caught off guard. At Sentinels Financial Group, we walk you through what your deductible really means for your situation so you’re not surprised when it matters most.

Copayments and Coinsurance: Sharing the Costs

Even after you meet your deductible, you may still be responsible for copayments (flat fees, like $30 for a doctor visit) or coinsurance (a percentage of a service, like 20% of a hospital bill).

It’s confusing. We know. As we go through your policy details, we'll break it all down in everyday language and make sure you understand the balance between monthly savings and out-of-pocket risk.

Your Out-of-Pocket Maximum: Your Protection Ceiling

This is the most you'll ever pay in a single plan year. After this point, your insurance covers 100% of your eligible care. This is your safety net, your line of defense against overwhelming medical bills in the event of a serious illness or accident.

For families, this number matters more than you might think. At Sentinels Financial Group, we help you understand how to protect your household from worst-case scenarios without overpaying month after month.

You’re Not Just Buying a Policy. You’re Buying Peace of Mind.

Health insurance isn’t just about cost. It’s about having the confidence your family is protected, knowing you can afford to go to the doctor when something feels off, knowing you’re not alone when something goes wrong.

Why It Pays to Understand Your Health Plan

Understanding your plan can help you:

Avoid unexpected bills
Get the most from your preventive care benefits
Choose smarter when open enrollment comes around
Protect your savings

That’s why we don’t just sell policies, we help people make confident decisions about their health and finances.

Want Help Choosing the Right Health Plan?

Whether you're exploring options for your family, your small business, or yourself, we’re here to make it simple.

Get personal, pressure-free guidance from the team at Sentinels Financial Group.

Call us today . 443-333-1280

Email us at [email protected].

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Book a Free Consultation: Click Here

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Next up in the series:
PPO vs. HMO vs. HSA: Which One Fits Your Life Best