The US healthcare system is something newcomers need to understand early, since the cost of medical care here is very high without insurance. This system relies heavily on health insurance. This article explains the US healthcare system and how health insurance works.
The US healthcare system is tied to insurance
Unlike Vietnam, healthcare costs in the US are very high, and most people rely on health insurance to cover them. Without insurance, a single visit or hospital stay can cost a great deal of money.
So having health insurance is nearly essential. Understanding how insurance works helps you protect your family’s finances against medical risk.
Common sources of insurance
The most common source of insurance for working people is employer-sponsored insurance (the employer covers part of the cost). There is also insurance purchased on the marketplace, and public programs for eligible groups.
For those coming for work, employer-sponsored insurance is usually the main option. You should ask your employer clearly about the insurance plan when starting the job.
Concepts to understand about insurance
Health insurance has concepts such as the monthly premium, the deductible (the amount you pay before insurance covers costs), and the copay (the portion you pay). Understanding these concepts helps you choose the right plan.
You should refer to information on how insurance works and page on public health programs to understand the system and choose insurance that suits your family.
Summary
The US healthcare system relies heavily on health insurance because medical costs are very high. Common sources include employer-sponsored insurance, marketplace insurance and public programs. You should understand the concepts of premium, deductible, copay, and ask clearly about the insurance plan when starting a job.
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References
- HealthCare.gov — How insurance works: https://www.healthcare.gov/why-coverage-is-important/
- Centers for Medicare & Medicaid Services: https://www.cms.gov/
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