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.
Thanks to a law passed in the spring of 2020, most Americans can be tested for COVID-19 for free. But that law didn’t make treatment for the virus free. Medical services for COVID-19 can be costly and sometimes run into tens of thousands of dollars. Whether or not you’ve been diagnosed with COVID-19, you can take steps now to understand your protections under the law and manage the costs of your treatment.
Flexible spending plans let you set aside money from your paycheck. You can use it to pay for care before meeting your deductible, and for copays and coinsurance afterward.
Whatever age you are when you retire, you have health insurance options.
Most health plans don´t cover treatments they regard as “experimental”. Sometimes, they may deny a claim for such a treatment.
Most health plans have a “network”, a group of doctors, hospitals and other healthcare providers who agree to take your insurer´s rate.
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