Understanding Health Insurance: Premiums

first things first you have to pay your premium every month or your insurance could get cancelled kind of like your cable subscription you can also think of it like a shared health care piggy bank we all chip in each month even if we're healthy so the money is there when we need it if you get insurance at work your employer probably pays most of your premium and the rest comes out of your paycheck automatically if you have Medicaid you'll most likely don't have to pay any premium at all the federal

government in your state take care of that if you're insured through a new health insurance marketplace depending on your income you may be eligible for a tax credit that pays a portion of your premium once you have that shiny new insurance card you'll want to try really hard to keep it in your wallet