Everyone (including those on the Exchange plans) complains about the cost of healthcare insurance...premiums, deductibles, co-insurance,...

Everyone (including those on the Exchange plans) complains about the cost of healthcare insurance...premiums, deductibles, co-insurance, co-payments...much less the exorbitant "out-of-pocket caps." How does health insurance risk differ from other types of insurance risk (e.g., automobile or homeowners insurance)? How might this "insulate" the insured from the actual cost of healthcare?

Expert Solution

health insurance also like any kind of general insurance like vehicles. but while the amoun of premium will increase in health insurance while the age is incresing, but the amount of premium will comes down if the vehicle life is passing.

we can take more than one health insurance to a person, but we can not take more than one insurance to an asset or vehicle.

if we are not claimed any amount in a particular year, a portion of amount can be carry forwared to next year in health insurance; where as this kind of facility is not possible in general insurance.

Health insurance is something which helps the insuree from the costs as well as expenses that occur during his or her treatment by either cashless payment benefit or by reimbursing the amount to the insuree after some specific time period. This is the main reason that insulate the insured.

keosha answered 2 years ago

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