Health insurance is like any other forms of insurance policies where people pool the risks of having any medical expenses or requirements in future. Health insurance policies are available with the private concerns as well as under state and government. Side by side different non-profit organization manages the profit of the insurance policies under their organization. Health insurance is again of two types - the individual health insurances and the group health insurances. Group health insurances are available under organization or a company which provides the benefits of the policies under the health insurances to their employees. In exchange, the government provides the organization with certain tax benefits. There are normally the following things to know about any insurance for health: Premium: The policyholder pays this to the policy provider. It is usually paid on a monthly or quarterly basis. It is dependent on the deductible and the copayments. Deductible: This amount is paid by the policyholder as well. For example, a policyholder of a plan might need to at least pay about $500 in a year, before the health insurance providers cover the expenses of the medical cure. It might take several visits before one reaches the full amount of the deductible. After that limit is reached, the insurance company starts paying for the particular care. Co-payment: This amount is paid by the policyholder as well. This is paid before the insurance provider starts paying the expenses of the service. For example, the policyholder is required to pay 60 dollars to the doctor or when they are obtaining a prescription. This co-payment will be done each time they acquire the service. Co-insurance: Besides paying for the co-payment, an insurer may also be required to pay a certain amount of money as co-insurance. This is a percentage of the total cost of the policyholder. For example, an insurer is required to pay 30% as co-insurance. At this stage, if they undergo any surgery they will pay 30 % of the cost while the insurance company will pay 70 percent. It is over and above the cost of the co-payment. Exclusions: All different services under the medical service which are not covered under any single insurance policy are exclusion. At this stage, the insurer has to pay the full cost of the service. Coverage limits: Certain insurance companies pay for a particular service only to a specific dollar amount. The policyholder pays the excess charge. Certain companies even engage this limitation to the annual charge coverage or lifetime charge coverage. The beneficiaries are not paid if the service charge exceeds the mentioned limit. Out-of-pocket maximums: This is similar to coverage limit, but in this case, the insurer's out of the pocket limits ends, instead of the insurance provider's limits. The remaining charge is paid by the insurance company.
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