Overview
Insurance markets play a crucial role in shaping health outcomes by determining how individuals access healthcare services and manage costs. Understanding the dynamics of these markets helps identify the barriers to care and the importance of effective health policies. By analyzing risk pooling, pre...
Key Terms
Example: Having health insurance can reduce out-of-pocket costs for doctor visits.
Example: A large group of insured individuals helps lower premiums for everyone.
Example: You pay a premium every month to keep your health insurance active.
Example: If your deductible is $1,000, you pay that amount before insurance pays.
Example: You might pay a $20 co-payment for a doctor's visit.
Example: Once you reach your out-of-pocket maximum, insurance pays 100% of costs.