Which term refers to the plan type that covers medical costs and may be purchased privately to provide coverage?

Which term refers to the plan type that covers medical costs and may be purchased privately to provide coverage?

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

Answer: (A)

Health insurance is the plan type that covers medical costs and can be bought privately to provide coverage. It’s a contract with an insurer where you pay regular premiums to keep the policy active, and in return the plan helps pay for things like doctor visits, hospital care, and medications. Purchasing privately means you can obtain this coverage on your own, not only through an employer or government program. A claim is simply the request you make to the insurer to pay for services after they’re received. A deductible is the amount you pay out-of-pocket before the insurer starts sharing costs. A premium is the ongoing payment you make to maintain the policy.

Health insurance is the plan type that covers medical costs and can be bought privately to provide coverage. It’s a contract with an insurer where you pay regular premiums to keep the policy active, and in return the plan helps pay for things like doctor visits, hospital care, and medications. Purchasing privately means you can obtain this coverage on your own, not only through an employer or government program.

A claim is simply the request you make to the insurer to pay for services after they’re received. A deductible is the amount you pay out-of-pocket before the insurer starts sharing costs. A premium is the ongoing payment you make to maintain the policy.