The Basics

Health insurance, in this modern world of cancer,

heart disease, AIDS, diabetes, asthma, ageing and

other diseases and afflictions, it is essential to

have some sort of health insurance.

There are many levels of health insurance coverage

available; unfortunately, like most things in life,

you get what you pay for, and good coverage can be

very expensive.

The two most common terms in referring to health

insurance are premium, which is the amount paid for

the insurance, and deductible, which is your

out-of-pocket expense before the insurance pays your

provider.

For instance, you might pay $300 premium per month for

family coverage, and your deductible might be $250 per

person, which means if you fell and broke your ankle

and went to the hospital emergency room, you would be

required to pay the first $250 of the bill.

You can purchase very basic catastrophic coverage,

which would carry a very high deductible and the

premium would be less than comprehensive coverage

which would have a higher premium and lower

deductible.

It pays to invest the time to investigate various

insurance options, taking into consideration your age,

your general health and the health of your family

members.

Your employer may offer group health insurance, which

is most likely the least expensive option for you, and

usually the premium is deducted from your paycheck.

Health insurance is a calculated risk; can you afford

the premiums or are you willing to risk that you would

pay less out of pocket for medical expenses in a year

than the premiums would cost? Consider carefully.

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