Understanding Health Insurance Coverage and Risk Management
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Types of Coverage
Basic Health Care Coverage.
- Hospital insurance: Pays for the cost of room and board and other medical expenses while you are in the hospital
- Surgical insurance: Covers the fees associated with the operating surgeon and anesthesiologist
- Medical insurance: Provides payments for general nonsurgical physician care at the office or hospital
Major Medical Coverage. This type of insurance provides protection after limits on basic health care coverage have been exceeded. Most policies have a coinsurance clause with:
- 80% of the covered expenses paid by the insurer
- 20% of the covered expenses paid by the insured
Long-Term Care Coverage. If you are unable to take care of yourself:
- Nursing or rehabilitative care at home
- Stay in a skilled nursing