Health insurance is a contract between an individual or group and an insurance company. The insurance company agrees to pay for medical expenses, such as doctor’s visits, hospital stays, and prescription drugs, in exchange for a monthly premium.

Health insurance is a form of coverage that provides individuals with financial protection against the costs of medical care. There are two main types of health insurance: individual and group.

Individual health insurance is purchased by individuals or families directly from an insurance provider. This type of insurance is ideal for those who are self-employed or do not have access to employer-sponsored coverage. Individual health insurance policies can be tailored to an individual’s specific needs, such as coverage for pre-existing conditions or specific medical procedures.

Group health insurance is typically offered by employers to their employees. Group coverage provides more extensive benefits at a lower cost than individual policies due to the bargaining power of the larger group. Group health insurance can also provide additional benefits, such as wellness programs or health savings accounts.

Both individual and group health insurance plans have their own unique advantages and disadvantages, and individuals should carefully consider their options and consult with a qualified professional to determine the best course of action for their healthcare needs.