Insurance Basics: Home
Skipping health insurance may seem like you’re saving money in the short run—especially if you’re young and healthy. But the cost of getting care without health insurance can be more than you expect. An unforeseen hospital stay, for example, can cost you tens of thousands of dollars.
Your plan´s rules and costs may differ for some types of care. Knowing these rules can help you control your costs and get the right care in the right setting.
Health insurance protects you from paying the full cost of your care. But, you will likely still have to pay some money out of your pocket. Almost all plans call for “cost sharing”. That means your insurer pays for part of your care, and you pay for part.
Health plans negotiate the price of medical services with certain doctors, hospitals, labs and other providers.
Sometimes you know ahead of time that a major event will happen in your life. Examples might include getting married or divorced, changing jobs or having a baby. Other times, such as at a death, you may not have advance warning.
Long-term care is medical and nonmedical care that you receive for an extended period of time, at home, in your community or in a residential facility. This article will tell you how to manage the costs of long-term care. This article does not provide medical, financial or legal advice.