Day: September 18, 2021

Both deductible & Copay are key terms to understand as they have wide use in the healthcare insurance system globally. The concepts of both the terms are discussed below in their respective headings. Deductible in terms of healthcare insurance system The amount that must be spent by an insured person out-of-pocket on health care every year, in addition to the extra premium, well before the insurance company starts to pay for health care services is called Deductible. Keep Reading: What is Universal Health Coverage? What is health system? What is…

The health insurance systems that could be both, private or public, and are funded on the basis of the principle of pooled risk, which assumes that if there are a few high-risk people and a lot of low-risk people all pay premiums to the insurance system over many years, then there will be a pot of money that could be used to pay for the illnesses and injuries in case they occur. The whole concept is called Pooled risk in terms of the healthcare insurance system. Van Thompson defines pooled…