Lars Olsen authorized a deduction of $163.75 from his monthly pay for group health insurance. his employer pays 45% of the cost. $352.72 is the annual amount for his group health insurance.
What is Health insurance?
Health insurance is a type of insurance that pays for a policyholder's medical and surgical costs. It either pays the insured person's care provider directly or reimburses expenditures incurred as a result of illness or accident. Health insurance, often known as medical insurance or healthcare insurance, is a type of insurance that contributes to a policyholder's medical expenses. The particulars of the policy itself, with specific laws and restrictions that apply to different plans, determine how much the insurance covers (and how much the policyholder pays via copays, deductions, and coinsurance).
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