Define and describe the following terms that are part of most health insurance programs. Then, give an example with amounts to help illustrate how each of these will work in a real-world example. DEFINE and ILLUSTRATE using an example:
Premium
Deductible
Coinsurance
Co-pay
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Premium:- The health insurance premium is the amount of money you need to pay periodically to an insurer in order to avail the medical coverage as well as to ensure that the policy remains in force.
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