Health insurance is a type of insurance that provides coverage for medical expenses, such as doctor's visits, hospital stays, and prescription drugs. Health insurance can help cover healthcare services that may be expensive or difficult to pay for out-of-pocket.
There are several different types of health insurance plans available, including:
Group health insurance: This type of insurance is typically provided by an employer and covers employees and their families.
Individual health insurance: This type of insurance is purchased by an individual for themselves and their family.
Medicare: This is a federal health insurance program for people 65 or older, certain younger people with disabilities, and people with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant, sometimes called ESRD).
Medicaid: This is a federal and state health insurance program for low-income individuals and families.
Health insurance plans may vary in terms of the types of services they cover, the amount of coverage they provide, and the out-of-pocket costs that policyholders may be required to pay. Some plans may have a higher premium but a lower deductible, while others may have a lower premium but a higher deductible. It is essential to carefully review the terms of a health insurance plan before purchasing it to ensure that it meets your needs.