Health insurance is like a financial shield for your medical expenses. It’s a type of insurance that covers all or part of the cost of medical care. When you have health insurance, you pay a monthly premium, and in return, the insurance company helps pay for covered health care services, such as doctor visits, hospital stays, and medications.
Here’s a quick overview:
Premiums
These are regular payments you make (monthly, quarterly, or annually) to keep your insurance active.
Deductibles
This is the amount you pay out of pocket for medical services before the insurance starts paying.
Co-pays and Co-insurance
Co-pays are fixed amounts you pay for specific services (like $20 for a doctor visit), while co-insurance is a percentage of the cost of a service you pay after meeting your deductible.
Network
Insurance plans often have a network of preferred providers. Visiting doctors and facilities within this network usually costs less than going out of network.
Health insurance helps protect you from high costs and ensures you have access to the care you need. There are various plans with different coverage options, so it’s important to choose one that fits your needs and budget.
If you need more details or have specific questions about health insurance, feel free to ask!