Health Insurance : How Does Medical Insurance Work?

Health Insurance : How Does Medical Insurance Work?


Hello my name is Vic Schumacher. The company
is HPE Financial Services and I understand that you’re trying to understand how medical
insurance works. Medical insurance provides protection in the event that you need to have
medical coverage or medical attention. Medical policy is purchased from an insurance company.
That policy has a deductible and that policy has coinsurance. Normally, once the deductible
and the coinsurance has been paid, by yourself, then the policy will pick up the rest of cost
of that particular service. If you present your medical insurance card to a hospital,
as an example, they will provide those services at a tremendous discount. If you don’t have
a medical insurance card, then there is no discount and you’re left at the mercy of whatever
the going price is. Normally if you’re a single person, the typical deductible would be around
$2500.00. If you’re married, you can use that same concept on an individual policy. If you
work for an employer, usually deductibles are lower because the employer winds up paying
a major portion of that coverage. Without a policy, you’re at the open-market to problems
that will happen. My name is Vic Schumacher; the company is HPE Financial Services, helping
people everyday.

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