Erum Education

 What Is Health Insurance? Health insurance is a contract between a company and a consumer. The company agrees to pay all or some of the insured person's health care expenses in exchange for the payment of a monthly premium. The contract is usually a one-year agreement, during which the insurer will be responsible for paying specific expenses related to illness, injury, pregnancy or preventive care. Health insurance deals in the US usually come with exclusions from coverage, including: A deductible that requires the consumer to pay certain "out-of-pocket" health care costs up to a maximum amount before the company's coverage begins One or more co-payments that require the consumer to pay a certain portion of the cost for specific services or procedures Kye Takeaway  Health insurance pays most medical and surgical expenses and preventive care expenses incurred by the insured person in exchange for a monthly premium payment. In general, the higher the monthly prem...