Health insurance is a type of coverage wherein an insurer promises to pay an insured's health care costs in exchange of premium payments.
This insurance is generally purchased as a group policy.
Employers buy such insurance to for the coverage of his employees.
The binding contract may explicitly state the maximum amount of coverage limit and what instances shall the insurance company pay in behalf of the insured.
Monthly premiums are paid by an employee through salary deduction.
Insurance companies may require, through stipulation, that an insured pay the deductible before the insurer pays medical costs.
The deductible is the maximum amount that an insured has to pay himself before an insurance company takes over the payment.
The deductible is expressed and may take an insured several visits to the doctors before it is incurred.
It is always recommended that the policyholder evaluates the needs of the covered individuals before agreeing on the purchase of insurance.
It is also best to get health insurance comparisons from the many coverage providers so that a policyholder will have a range of options on which health insurance to purchase.
To get health insurance comparisons, one must talk to insurance brokers and agents of different companies and get insurance quotes.
A good selection will enable a policyholder to choose which is best suited for the needs of its employees.
Without care and caution, a group policyholder may choose the wrong insurance company and inadvertently compromise the needs of the insured individuals, their spouses and dependents.