Health Insurance
What is health insurance?
insurance that provides protection against financial loss due to illness or injury.
People who are not eligible for group insurance may?
purchase health insurance on their own for themselves and their families.
People who purchase an individual health insurance plan might?
choose to do so through the federal health insurance exchange
Supplemental insurance is
additional insurance that can be purchased to pay for medical expenses that standard health insurance does not cover or does not fully cover.
The government offers health insurance to certain
eligible people, including older adults, people with disabilities, low-income families, and children.
Health insurance is a necessity, but it should be?
remembered that health insurance does not cover all medical expenses
individual policies are more expensive and?
may offer fewer benefits than group plans.
what is health insurance exchange?
is a government-sponsored price-comparison website where consumers can shop for, and purchase, government-regulated and standardized health care plans eligible for federal subsidies.
Some individuals choose to buy supplement insurance to
cover the treatment costs of a specific illness.
Medicare covers specific health care expenses for eligible citizens age
65 and older. It also covers those under age 65 with certain diseases or disabilities.
Health insurance offers financial protection by covering specific medical expenses created by?
illness, injury, and disability of the insured person and dependents.
Premiums for an individual can be as much as
$800 a month or more.
For individuals who do not have health insurance through a job, Medicare, Medicaid, the Children’s Health Insurance Program (CHIP), or another source that provides qualifying coverage, the what can help them?
the Marketplace can help them find coverage.
Cancer insurance and long-term care insurance are examples of
supplemental insurance.
It does not cover long-term care
but it covers some home health care and hospice care.
Purchasing health insurance is one way that?
individuals manage personal risk.
When selecting an individual plan, calculate the total cost of the premiums you would
pay together with the deductible
In some states, the Marketplace is run by the state. In others, it is run by
the federal government.
Cancer insurance is
insurance that helps manage the risks that occur when an insured has cancer.
If a patient needs care beyond the specified number of days allowed for home health, hospice, and skilled nursing care
the patient is responsible for paying certain costs.
Once the deductible is met, the insurance company begins to?
pay on qualified expenses above the deductible.
Monthly premiums can be reduced by choosing?
a plan with a higher deductible?
All major medical plans sold after 2014 offer services from
ten categories of essential benefits.
Long-term care (LTC) insurance provides
coverage for personal and custodial care during periods when an individual is unable to perform essential daily living activities.
Part C, Medicare Advantage Plans, combines Parts A and Part B benefits under one plan. Some people prefer this type of plan because it
simplifies enrollment and payment procedures