Description: This following passage is mainly designed to talk about humana pharmacy login, using an interesting example to inform you how the health insurance works.
Today’s question is how health insurance works. The simple answer is that it’s about economy of scale. Since time began, mankind has found safety in numbers. Health insurance coverage is not different. When you sign up for coverage, you join a group of other people to combine your health care purchasing power.
Your insurer covers the whole group rather than individuals. Everyone shares the cost of staying healthy. It’s sounds like that an auto insurance company collects premium payments from its customers then uses that pool of money to pay accident claims when a customer has a record.
Here’s an example. Gary takes care of himself and he’s a healthy man. It’s his first time to ski. After stepping off the lift, he plummets down the wrong slope and hits five trees. He slides over the edge of a small cliff and is promptly hit by a falling safe. Then his wife calls to inform him that she’s about to deliver twins. Gary is to be buried under snow.
Costly medical events can be expensive without health insurance. His broken leg and concussion can cost thousands to treat. Depending on the circumstances, the birth of his twins could cost from a few thousand to a hundred thousand or more.
Fortunately, Gary has health insurance. Remember that group we spoke of. Since the costs are spread out over everyone, the people in Gary’s group are helping to offset his costs. The cost to treat his injuries and deliver his kids will be a lot less because his insurer is betting that the money will offset the total costs of their health expenditures for the year.
In a sense, the healthy people in the group pay the costs when someone is sick or injured because they know that the same help will be there when they need it. Instead of paying thousands of dollars, Gary’s out-of-pocket costs are minimal. He is only responsible for his copay and his deductible which vary by insurer.
To sum it up, health coverage pays for preventive care and reduces your risk of financial disaster because your health care costs are spread across a large group of people. Therefore, you know until next time, stay smart and stay healthy.