Financial & Insurance FAQs
You can find the answers to most all of your financial and insurance questions here.
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Contact your local Hope Enrichement Center office for more details.
Southaven, MS 662.536.6210
Memhpis, TN 901.440.8580
Palos Heights, IL 708.448.7848
Oxford, MS 662.638.3538
Corinth, MS 662.536.6210
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Learn MoreFAQs
What is a Copay? This is a set amount you pay for certain services. When there is a copay, you do not have to meet your deductible before benefits are paid on your service.
What is a Deductible? The amount that you will be responsible for before insurance will start to pay any portion on claims.
What is Coinsurance? The shared cost between the insurance company and the member. This amount is owed on services done in an office visit or after your deductible is met.
What is an Out of Pocket Maximum? This is the most that you will pay in a calendar year for covered services. In your plan, this includes your deductible – not in addition to your deductible.
What does In-Network mean? In-Network physicians and providers have direct contracts with your insurance company legally preventing them from charging you more than insurance adjusts your claims for.
What does Out-of-Network mean? Out of Network physicians and providers do not have contracts with your insurance company. They may “accept” your insurance, but they can still charge you more than insurance says you owe because there is no contract between them to take the insurance payment as payment in full.
What are Network Providers? Doctors, hospitals and other healthcare providers who have an agreement/contract with insurance companies agreeing to charge a discounted amount for services they render.
What is Pre‐Authorization? Certain procedures or hospitalizations may require that the provider receive authorization. The provider is typically the one to go through this process with the insurance company and obtain pre-authorization.
What are Explanation of Benefits (EOB)? The EOB is mailed to the employee after a claim is received and processed by the insurance company. The EOB will describe how the claim was processed and outline what portion of the charges are applied to the deductible, what portion the employee is responsible for, and explain if there is a denial or error processing the claim.
What is an Appeal? If your health insurance company doesn’t pay for a specific health care provider or service, you have the right to appeal the decision and have it reviewed by an independent third party.