Which term describes a plan in which private companies or government programs pay for part or all of a person's medical costs?

Which term describes a plan in which private companies or government programs pay for part or all of a person's medical costs?

• A. Health Insurance
• B. Claim
• C. Coinsurance
• D. Deductible

Answer: (A)

Health insurance is a plan in which private companies or government programs pay for part or all of a person's medical costs. It involves premiums paid to an insurer in exchange for coverage of services, with the insurer helping to reduce what you pay out-of-pocket. Plans often involve cost sharing, such as copays, deductibles, and coinsurance, but the overall idea is that a third party helps cover medical expenses rather than paying everything yourself. A claim is simply the request you or your provider submit to the insurer for payment for services received. Coinsurance is the share of costs you pay after meeting your deductible, typically a percentage of the bill. A deductible is the amount you must pay out-of-pocket before the insurer starts to pay.

Health insurance is a plan in which private companies or government programs pay for part or all of a person's medical costs. It involves premiums paid to an insurer in exchange for coverage of services, with the insurer helping to reduce what you pay out-of-pocket. Plans often involve cost sharing, such as copays, deductibles, and coinsurance, but the overall idea is that a third party helps cover medical expenses rather than paying everything yourself.

A claim is simply the request you or your provider submit to the insurer for payment for services received. Coinsurance is the share of costs you pay after meeting your deductible, typically a percentage of the bill. A deductible is the amount you must pay out-of-pocket before the insurer starts to pay.