"Congress has seen a renewed interest in the market for private health insurance since the passage
of the Patient Protection and Affordable Care Act (ACA; P.L. 111-148, as amended). This report
provides an overview of private-sector (as opposed to government-provided) health insurance.It
serves as an introduction to health insurance from the point of view of many consumers under the
age of 65. No background in health insurance is assumed, and all terms are defined in the body of
the report.
A consumer may find the purchase of health care inherently different from some other purchases.
Health care can be expensive, and many relevant details concerning future health care may not be
known when the consumer is choosing an insurance plan, including when over the course of a
year (if at all) health care will be purchased, which services will be needed, and the costs of those
services. These characteristics of purchasing health care decrease the consumer’s ability to plan
financially and increase the consumer’s exposure to financial risk. The purchase of health
insurance reduces the risks and unpredictability inherent in paying for health services..."
Health insurance
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