The Basics

Health insurance, in this modern world of cancer, heart disease, AIDS, diabetes, asthma, ageing and other diseases and afflictions, it is essential to have some sort of health insurance.

There are a lot of levels of health insurance coverage available; unfortunately, like most things in life, you get what you pay for, and good coverage is able to be very expensive.

The two most common terms in referring to health insurance are premium, which is the amount paid for the insurance, and deductible, which is your out-of-pocket expense before the insurance pays your provider.

For instance, you might pay three hundred dollars premium per month for family coverage, and your deductible might be two hundred and fifty dollars per person, which means if you fell and broke your ankle and went to the hospital emergency room, you would be required to pay the first two hundred and fifty dollars of the bill.

You are able to purchase very basic catastrophic coverage, which would carry a very high deductible and the premium would be less than comprehensive coverage
which would have a higher premium and lower deductible.

It pays to invest the time to investigate various insurance options, taking into consideration your age, your general health and the health of your family members.

Your employer may offer group health insurance, which is most likely the least expensive option for you, and usually the premium is deducted from your paycheck.

Health insurance is a calculated risk; are you able to afford the premiums or are you willing to risk that you would pay less out of pocket for medical expenses in a year
than the premiums would cost? Consider carefully.