Difference between revisions of "Premium"
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(Created page with "=What is a premium?= A premium is a monthly amount paid by a health plan member to be [[coverage|covered] by a health insurance plan. The amount of premium that is require...") |
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=What is a premium?= | =What is a premium?= | ||
| − | A premium is a monthly | + | A premium is a monthly financial cost paid by a [[health plan member]] to be [[coverage|covered]] by a [[health insurance plan]]. |
The amount of premium that is required for health insurance coverage depends on many different factors. Health insurance companies examine the type of healthcare services offered by the health plan, the likelihood of those services being used by the health plan members covered by the health plan, and the amount of competition that the insurer faces. | The amount of premium that is required for health insurance coverage depends on many different factors. Health insurance companies examine the type of healthcare services offered by the health plan, the likelihood of those services being used by the health plan members covered by the health plan, and the amount of competition that the insurer faces. | ||
Professionals known as [[actuary|actuaries]] calculate these factors to determine the amount of proposed premiums. | Professionals known as [[actuary|actuaries]] calculate these factors to determine the amount of proposed premiums. | ||
Latest revision as of 22:20, 18 February 2017
A premium is a monthly financial cost paid by a health plan member to be covered by a health insurance plan.
The amount of premium that is required for health insurance coverage depends on many different factors. Health insurance companies examine the type of healthcare services offered by the health plan, the likelihood of those services being used by the health plan members covered by the health plan, and the amount of competition that the insurer faces.
Professionals known as actuaries calculate these factors to determine the amount of proposed premiums.
