What is Health Insurance?

Health insurance is a contract that requires an insurer to pay some or all of a person's healthcare costs in exchange for a premium More specifically, health insurance typically pays for medical, surgical, prescription drug, and sometimes dental expenses incurred by the insured. Health insurance can reimburse the insured for expenses incurred from illness or injury or pay the care provider directly. It is often included in employer benefit packages as a means of enticing quality employees, with premiums partially covered by the employer but often also deducted from employee paychecks.

KEY TAKEAWAYS

• Health insurance is a type of insurance coverage that pays for medical and surgical expenses incurred by the insured.
• Choosing a health insurance plan can be tricky because of plan rules regarding in- and out-of-network services, deductibles, copays, and more.
• Since 2010, the Affordable Care Act has prohibited insurance companies from denying coverage to patients with preexisting conditions and has allowed children to remain on their parents' insurance plan until they reach the age of 26.
• Medicare and the Children's Health Insurance Program (CHIP) are two public health insurance plans that target older individuals and children, respectively. Medicare also serves people with certain disabilities.

If you have health insurance questions or need help finding individual or family plans we can help. Health insurance can be complex so do not go at it alone. Give us a call or fill out the form below.