Health insurance is a contract between an individual or a group and an insrance company to pay for healthcare costs. in exchange for a regular premium, the insurance company agrees to pay for a portion or all of the insured person’s medical expenses,as outlined in the policy.
What is the fundamental agreement in health insurance?
It’s a contract between an individual or group and an insurance company where the company agrees to pay for covered healthcare costs in exchange for regular premiums.
What is a premium in the context of health insurance?
A premium is the regular payment you make to maintan your health insurance coverage
Explain the concent of a deductible in health insurance
A deductible is the fixed amount you must pay out of pocket for covered healthcare serviced befor your insurance company starts to pay its share.