Video: What Are Health Insurance Premiums?

What Are Health Insurance Premiums?

Health insurance premiums are the money that you pay monthly, quarterly or yearly. Find out about health insurance premiums with help from a longtime insurance broker in this free video clip.

Video Transcript

My name is Susan Combs and I'm an insurance broker for Combs and Company. Today, we're going to talk about what are health insurance premiums. Basically health insurance premiums are what you pay for the health insurance so it's what you get paid monthly or some people pay quarterly on health insurance. So depending upon the type of health insurance you have, your premiums can be higher or lower. Because with health insurance premiums and out of pocket expenses it's actually a scale so if you are going to pay a lower premium then you are going to actually pay more out of pocket every time you go to the doctor or hospital and also the inverse, if you pay more on the premium then you are going to pay less when you go to the doctor or the hospital. So you know that in a nutshell is what the premiums are and that's how it works so if, depending upon what you are looking to accomplish if you are somebody that's going to be a high utilizer of the health insurance, then you might be looking to spend more money on the premiums so you're going to spend less out of pocket. So talk to your broker that focuses on health insurance and they can help navigate you through the premium process.

What Are Health Insurance Premiums?

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