ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The amount you pay for your health insurance every month. In addition to your premium, you usually have to pay other costs for your health care, including a deductible, copayments, and coinsurance. If you have a Marketplace health plan, you may be able to lower your costs with a premium tax credit.

Detailed explanation-2: -Definition: Premium is an amount paid periodically to the insurer by the insured for covering his risk. Description: In an insurance contract, the risk is transferred from the insured to the insurer. For taking this risk, the insurer charges an amount called the premium.

Detailed explanation-3: -Health insurance premium is the amount that you pay to the insurance provider to get health. If you have bought a one-year health insurance plan, you will have to pay the premium annually. If you have purchased a two or three-year plan, you will have to pay the premium altogether for the selected policy duration.

Detailed explanation-4: -Determine who you are responsible for insuring during the reporting period. Determine the gross earnings for each person during the reporting period. More items