Health insurance is a type of insurance that helps cover the cost of an insured person’s medical and surgical expenses. Insurers use the term “provider” to describe a clinic, hospital, doctor, laboratory, healthcare practitioner, or pharmacy that provides treatment for an individual’s condition. The “insured” is the owner of the health insurance policy or the person with the health insurance coverage.
Health insurance is a contract that requires an insurer to pay some or all of a person’s healthcare costs in exchange for a premium. More specifically, health insurance typically pays for medical, surgical, prescription drug, and sometimes dental expenses incurred by the insured. Health insurance can reimburse the insured for expenses incurred from illness or injury, or pay the care provider directly. It is often included in employer benefit packages as a means of enticing quality employees, with premiums partially covered by the employer but often also deducted from employee paychecks. The cost of health insurance premiums is deductible to the payer, and the benefits received are tax-free, with certain exceptions for S corporation employees.
On this week’s episode of Doctors on Air, you will learn more about what health insurance is, why it is important, types of plan, and so much more.
Join Dr. Pamela and Dr. Temitope Falaiye (Head, Medical Services, Leadway Health Ltd) as they discuss “You and your Health Insurance” on Wednesday 8th December, 2021 on Classic FM 97.3. Time: 8:00am – 8:30am.
You can be part of the program.
Join our question and answer session immediately after the program at 8:30am using this link: bit.ly/DocOnAirQandA
