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The premium is the dollar amount paid in exchange for insurance coverage.

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Q: What term refers to the amount you or your employer pays in exchange for insurance coverage?
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Related questions

What is the amount you or your employer pays in exchange for insurance coverage called?

The term is "premium".


Which term refers to the amount you or your employer pays in exchange for insurance coverage?

Premium a+


What terms is the amount you or your employer pays in exchange for insurance coverage?

It is called a premium.


What is the term for the amount you and your employer pay in exchange for insurance coverage?

The amount that is paid for any kind of insurance is called "premiums". The same term applies whether an employee or employer pay for the insurance.


If your employer offers health insurance and you opt not to have it are they required to compensate you for the cost of a premium?

No. Keep in mind that insurance coverage is very expensive and the employer, as a rule bears the largest amount.


Does humana health insurance have good coverage?

Humana is considered to be one of the best health insurance providers in the United States, but the level of coverage varies between plans. If you purchase yourself you can decide on the amount of coverage vs. cost, but if you get it through an employer they will decide your level of coverage themselves.


What is Coverage A in insurance?

Coverage A is the dwelling amount. As in, if it cost $250K to rebuild your house then that is what your coverage A should be.


What is the minimum amount of liability insurance coverage required?

The minimum amount of liability insurance coverage required (in California) is: 15/30/5. 15/30/5


Does the healthcare law require employers to include in the W-2 form of each employee the aggregate cost of applicable employer sponsored group health coverage that is excludable from the employee's g?

Yes if the employer is claiming the credit the amount of the medical insurance premium that the employer is paying on behalf of the employee will be included on the W-2 form to inform the employee of the amount that the employer is paying for the employee.


If insured by your employer and your spouse's employer which is the primary insurance?

Your insurance through your employer is your primary insurance, and your spouse's primary insurance is through his/her employer. If both husband and wife are insured on both insurance policies, then you have primary and secondary coverage. But you will still have to pay any deductibles and co-pays before either policy will pay. The deductible is the amount you first have to pay (usually at the first of the year) before the insurance will pay anything. The co-pay is your percentage of what the insurance doesn't pay, which for many health insurance companies is 80% for them and 20% for you. There is sometimes a co-insurance that you have to pay also. Ex: Insurance companies have a set amount that they pay for any office visit, procedure, etc. If the bill is over what the insurance pays, then you are responsible for the balance.


What are some factors when determining the cost of insurance coverage?

Several factor determine the cost of insurance. Among them include: 1. The type of insurance involved. 2. The coverage limits (amount of insurance). 3. The amount of the deductible and/or copayment. 4. The insurer involved. 5. The state in which the policy is issued. 6. Addendums and endorsement to the basic coverage which add or delete coverage.


What is franchise in insurance?

A minimum amount of loss that must be incurred before insurance coverage applies