Health Insurance Policy
Whenever you pay insurance for health, that type of insurance is called Health Insurance.
At this time government-sponsored and private insurance companies both are providing health insurance.
You can purchse health insurance for individual or for a group also Suppose you have your own business then you may be purchased on a group basis to cover you employees.
In each case, the covered groups or individuals pay premiums or taxes to help protect themselves from high or unexpected healthcare expenses.
How Health insurance Policy works
health insurance policy : A contract between an insurance company and an individual or a sponsor (e.g. an employer) is called health insurance policy. And you have option to renewable , you can renewable your health insurance policy annually or monthly.
read more about health insurance terms.such as
- Premium: The amount the policy-holder or his sponsor (e.g. an employer) pays to the health plan each month to purchase health coverage.
- Deductible: The amount that the insured must pay out-of-pocket before the health insurer pays its share.
- Coverage limits: Some health insurance policies only pay for health care up to a certain dollar amount. The insured person may be expected to pay any charges in excess of the health plan's maximum payment for a specific service. In addition, some insurance company schemes have annual or lifetime coverage maximums. In these cases, the health plan will stop payment when they reach the benefit maximum, and the policy-holder must pay all remaining costs.
- Explanation of Benefits: A document sent by an insurer to a patient explaining what was covered for a medical service, and how they arrived at the payment amount and patient responsibility amount.
- OIQ Solutions
Joe Marcotte
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(541) 321-2251
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