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Health insurance (also called medical insurance or medical expense insurance) is a contract between you and an insurance company.
In exchange for you making the premium payments, the health insurance company agrees to pay the medical expenses that you may incur under the terms of the contract.
Health insurance is essential in these times, since a simple accident or serious illness could end your savings and sink you into debt.
There are many reasons to purchase medical insurance for you and your family, but this is the most important, because medical expenses can reach tens of thousands of dollars or more for a simple injury or illness.
In addition, hospitalization and injury treatment costs continue to grow at a rate that exceeds inflation.
What are «covered services»?
Your health insurance policy is an agreement between you and your insurance company. The policy lists a package of medical benefits such as tests, medications and treatment services.
The insurance company agrees to cover the cost of certain benefits that are noted in your policy. These are the so-called «covered services.»
Your policy also has a list of the types of services that are not covered by your insurance company.
You have to pay for any medical care you receive that is not covered
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