In 2013, Chris had inexpensive health insurance. His premiums were only $200 each month. That sounds pretty good, especially since average premiums for a single person are more than $400 per month.
This is the one of a series of articles on understanding health insurance. Click here for all of the articles. This series covers basics — exceptions and complications go beyond the basics.
Trouble was — Chris’s actual health care costs were a lot higher. Besides paying the premium, he had to pay $3,000 of medical costs out of his pocket before the insurance paid a dime. Premiums are just one of the costs to look at when you buy health insurance. Continue reading