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Health Insurance 101

Understanding Insurance – The basic concept behind health insurance is a community approach to cost-sharing. In insurance lingo, this is called a "pool," which includes others who have also purchased health insurance coverage.


Understanding Insurance 

The premiums people pay go into a pool.



A pool is a collection of premiums used to pay claims for all members in the pool.



When someone receives medical care, money is used from the pool to pay the bills.

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Understanding Insurance 




As health care costs rise...





... and health care use increases...





... the amount of money in the pool decreases as claims are paid.

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Understanding Insurance 



Your premiums go up because the amount of money in the pool must increase to pay all the bills.




This ensures that there is enough money in the pool ...






... to cover the potential health care expenses and prevent a catastrophic event from bankrupting an individual or a family.

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