What does a deductible mean and why do you still have to spend money when you go to a doctor if you pay for insurance every month?
What are the other fancy words I need to know?
How do you know if something is a good deal?
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In the US, most people get their health insurance from their employer. Most employers pay a portion of the insurance premium. The employee pays the rest of he health insurance premium which is taken out of your paycheck.
The Medicare program is for persons 65 and older. It is complicated and many people purchase a commercial plan that supplements some of the things Medicare leaves out.
Women and children in extreme poverty are covered by the Medicaid program. It is difficult for men to get Medicaid unless they are permanently disabled.
Self-employed people are at a great disadvantage. They may not be insured at all due to purchasing 100% of their insurance. Obama passed the Affordable Care Act to help self-ensured people to buy insurance through health exchanges, but it became embroiled in political attacks.
If you get US health insurance, take a look at the policy because you may be:
Required to go to a “preferred” network of doctors and hospitals
Charged a co-payment for a simple medical visit or even more for an emergency room visit
Charged a fee for any prescriptions and you may need and you may need to go through a mail order pharmacy for meds for chronic conditions. I picked up 3 medications this morning at a pharmacy and my co-pay was $60
I pay a co-pay when I see a medical provider or physical therapist and then that is $30-50 per visit
It is all very complicated.
There is a “catastrophic” coverage that limits the amount I would pay per year to about $9000 per year if something really bad happened.
Lots of people don’t have any insurance at all but that is its own complex story.
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