Overview
Health insurance coverage is essential for managing healthcare costs and ensuring access to necessary medical services. It helps individuals avoid high out-of-pocket expenses and provides financial protection against unexpected health issues. Understanding the different components of health insuranc...
Key Terms
Example: You pay a premium of $200 each month for your health insurance.
Example: If your deductible is $1,000, you must pay that amount before coverage kicks in.
Example: You pay a $20 copayment for each visit to your primary care doctor.
Example: Once you reach your out-of-pocket maximum of $5,000, your insurance pays 100% of covered services.
Example: Using a network provider usually costs less than going out-of-network.
Example: Cosmetic surgery is often an exclusion in many health insurance plans.