How Health Insurance Works For Dummies
Medicare advantage is a medicare plan that is administered by a private health insurance company that contracts with the federal government to provide healthcare coverage.
How health insurance works for dummies - Health insurance also covers preventive care i e doctors visits and tests before you get sick. Making a list of all your insurance policies makes sense to help you keep track and for your loved ones if the day comes that your life insurance policy is activated. Health insurance is a product that covers your medical expenses.
The company bets that they ll take in more money in premiums than they have to pay out in benefits whether it s for health insurance auto insurance life insurance or homeowners insurance you re paying a premium every month just in case something happens. Like auto insurance covers your car if you get into an accident health insurance covers you if you get sick or injured. Insurance is a bit like a gamble between you and the insurance company.
So it s no surprise that along with increased health care cost comes increased health insurance premiums. By jack hungelmann. They each have different advantages and disadvantages which we will discuss in a moment.
Understanding your health insurance policy and plan options like all insurance policies health insurance is a contract or agreement between you and the insurance company you select. You buy a plan you can choose from many different types and the company agrees to pay all or part of your medical costs when you get sick or hurt. From insurance for dummies 2nd edition.
Employers typically bear the brunt of the expense for health insurance but individuals are paying more and more each year as well.
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