Health Insurance

Health Insurance
What exactly is health insurance?

Health insurance is a promise by an insurance company or health plan to provide or pay for health care services in exchange for payment of premiums.

The health insurance term refers to a variety of healthinsurance policies, ranging from those that cover the costs of doctors and hospitals to those that meet a specific need — like long-term care or dental coverage. When most of us talk about health insurance, however, we refer to the kind of plan that covers doctor bills, surgery and hospital costs.

You may have heard terms like "managed care," "Fee-for-Service" and "indemnity." These words define different types of coverage or health plans widely used by today's consumers.

Health insurance is insurance that provides coverage for health-related needs. It helps you pay for medical bills.

The type of health care covered by your health insurance plan depends on the type of coverage and the amount you pay for the premium. A health insurance premium is the amount you and/or your employer pay for the benefits provided under your health insurance policy.

You can receive health insurance from:
1. A group employer-sponsored plan
2. An individual, private insurance plan
3. A government program, such as Medicare or Medicaid

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