Premium
Premium is a term used in various contexts, often referring to an additional cost or charge. In the context of healthcare, a premium is the amount that an individual or a business pays to an insurance company for health coverage.
Overview[edit | edit source]
A health insurance premium is a regular payment made to an insurer in exchange for coverage. The insurer then pays a portion or all of the insured's healthcare costs, depending on the terms of the policy. Premiums can be paid by individuals, employers, or a combination of both. The cost of premiums can vary widely depending on several factors, including the type of coverage, the insured's age and health status, and the region in which the insured lives.
Factors Influencing Premiums[edit | edit source]
Several factors can influence the cost of health insurance premiums. These include:
- Age: Older individuals typically have higher healthcare costs, and therefore, higher premiums.
- Health status: Individuals with pre-existing conditions or a history of health issues may have higher premiums.
- Location': The cost of healthcare varies by region, which can affect premium costs.
- Type of plan: Plans with more comprehensive coverage typically have higher premiums.
Premiums and the Affordable Care Act[edit | edit source]
The Affordable Care Act (ACA), also known as Obamacare, introduced several changes to how premiums are calculated. Under the ACA, insurers can no longer charge higher premiums based on health status or gender. The ACA also introduced subsidies to help lower-income individuals and families afford health insurance premiums.
See Also[edit | edit source]
- Health insurance in the United States
- Healthcare reform in the United States
- Patient Protection and Affordable Care Act
| Premium Resources | |
|---|---|
|
 |
Search WikiMD
Ad.Tired of being Overweight? Try W8MD's physician weight loss program.
Semaglutide (Ozempic / Wegovy and Tirzepatide (Mounjaro / Zepbound) available.
Advertise on WikiMD
|
WikiMD's Wellness Encyclopedia |
| Let Food Be Thy Medicine Medicine Thy Food - Hippocrates |
Translate this page: - East Asian
中文,
日本,
한국어,
South Asian
हिन्दी,
தமிழ்,
తెలుగు,
Urdu,
ಕನ್ನಡ,
Southeast Asian
Indonesian,
Vietnamese,
Thai,
မြန်မာဘာသာ,
বাংলা
European
español,
Deutsch,
français,
Greek,
português do Brasil,
polski,
română,
русский,
Nederlands,
norsk,
svenska,
suomi,
Italian
Middle Eastern & African
عربى,
Turkish,
Persian,
Hebrew,
Afrikaans,
isiZulu,
Kiswahili,
Other
Bulgarian,
Hungarian,
Czech,
Swedish,
മലയാളം,
मराठी,
ਪੰਜਾਬੀ,
ગુજરાતી,
Portuguese,
Ukrainian
Medical Disclaimer: WikiMD is not a substitute for professional medical advice. The information on WikiMD is provided as an information resource only, may be incorrect, outdated or misleading, and is not to be used or relied on for any diagnostic or treatment purposes. Please consult your health care provider before making any healthcare decisions or for guidance about a specific medical condition. WikiMD expressly disclaims responsibility, and shall have no liability, for any damages, loss, injury, or liability whatsoever suffered as a result of your reliance on the information contained in this site. By visiting this site you agree to the foregoing terms and conditions, which may from time to time be changed or supplemented by WikiMD. If you do not agree to the foregoing terms and conditions, you should not enter or use this site. See full disclaimer.
Credits:Most images are courtesy of Wikimedia commons, and templates Wikipedia, licensed under CC BY SA or similar.
Contributors: Prab R. Tumpati, MD
