Question

Medicare, Medicaid, and private insurance of your choice (such as Major Medical, PPO or HMO):

Respond to the list of questions below for each, supporting your answers with resources appropriate to the topic

1. Describe how this insurance is paid for? Who pays for it?

Answer 1

Ans) According to the Health Insurance Association of America, health insurance is defined as "coverage that provides for the payments of benefits as a result of sickness or injury. It includes insurance for losses from accident, medical expense, disability, or accidental death and dismemberment.

Health insurance is organized in groups (guilds)
-Unions are responsible for managing health care funds (not government); smaller pot that is distinguished by employment.

- the amount paid by the insurance company for covered medical expenses?
It includes deductibles, copayments, and coinsurance, but is in addition to your regular premiums. Beyond this amount, the insurance company will pay all expenses for the remainder of the year. Payer—the health insurance company whose plan pays to help cover the cost of your care. Also known as a carrier.

- A deductible is the amount you pay for health care services before your health insurance begins to pay. How it works: If your plan's deductible is $1,500, you'll pay 100 percent of eligible health care expenses until the bills total $1,500. After that, you share the cost with your plan by paying coinsurance.