Health insurance can be broadly categorized into several types, each offering different levels of coverage and flexibility. Here are some common types of health insurance.
Health insurance plans typically cover a wide range of medical services, including doctor visits, hospitalization, surgery, prescription drugs, preventive care (such as vaccinations and screenings), maternity care, and mental health services.
Policyholders pay premiums regularly (monthly, quarterly, annually) to maintain their health insurance coverage.
This is the amount of money policyholders must pay out-of-pocket for covered services before the insurance company starts to pay. Plans with lower premiums often have higher deductibles.
These are costs that policyholders must pay when they receive medical care. Copayments are fixed amounts (e.g., $20 for a doctor visit), while coinsurance is a percentage of the cost of a service that the policyholder is responsible for (e.g., 20% of the cost of a procedure).
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