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Health Insurance

Health insurance is coverage to help pay for medical expenses. When you have a policy, you pay premiums each month to keep the policy active. If something happens to your health, then the policy helps foot the bill. You never know what can happen, and medical care is always expensive. That’s why it’s good for everybody to have medical insurance.

The insurance companies hope that people will stay well, but people get sick all the time. This is why the insurance companies collect premiums and keep policies active. If something happens to a policyholder and they require medical care, then the insurance company will cover the medical expenses. When a person doesn’t have health insurance, then there is a risk of financial ruin should a medical emergency occur.

The extent of the medical coverage depends on the policy. It’s important to note the deductible and the premiums you must pay. A high deductible usually means the policyholder pays lower monthly premiums.

The two main medical insurance plans are Health Maintenance Organization (HMO), and Preferred Provider Organization (PPO). Both types use networks of doctors and healthcare service providers. With an HMO, the policyholder has less control over which healthcare providers they choose. An HMO is very specific about which doctors a policyholder can see. HMO plans also require a primary care physician to give a referral to a specialist.

With a PPO plan, the policyholder can choose which doctor to see without consulting a primary care physician. The policyholder has to reach a maximum amount of medical expenses paid out of pocket. After that, the plan covers 100% of the costs. People with health problems should consider PPO plans.