Almost everybody is concerned about their health, especially today now that there are lots of rare viruses popping out unexpectedly. Health is very important in our life for if our health is put on the line, lots of things will be lost.
When your health is not in good condition you can’t work well, your body will feel heavy as well as your head etc. Taking care of your health is not hard, eat healthy foods and breath fresh air. Health insurance covers the medical health of the insured; it will help not only you but also your family.
But getting health insurance is very expensive, for medical bills and medicines are also expensive these days. But why is health insurance so expensive? Let’s explore this topic.
There are lots of people who want to get health coverage but find themselves without it for it is becoming more and more expensive today. The cost of health insurance varies on the plan you are going to get.
Below is a list of the things you have to pay for health insurance.
Premium: This is the monthly fee that the insured have to pay so that they can be provided health coverage and health related services like doctor’s visits or the hospitalization plus the medicine the doctor prescribe. Some companies that are affiliated in some health insurance plans get their employees one.
Apart from the companies it will be paid by you, so they’ll just deduct it directly from your paychecks and the other part will be paid by the company. If you get a private insurance for yourself the older you are the higher your premiums will be. If you are employed in a very dangerous job like a flight instructor or you have a chronic health condition your premiums will also be high.
Deductibles: This is the amount you have to pay out from your pockets each year; it is for health related expenses. Plus if you pay a higher deductible your premium will be paying lower premiums.
Coinsurance: There are some insurance that requires you to pay a percentage for the cost of covered health related services when you have met your annual deductible. When you have met your annual deductible plus the coinsurance, if your insurance company requires it then it might help you to save money when one of your family member go on a checkup. Your insurance might pay 80% of your doctor’s fee and you only have to pay for the remaining 20 %.