This is a photo of Mike Bertaut with text that reads: "Health Insurance 101. Straight Talk."
Category: Health Insurance

What is Health Insurance, Exactly?

Every so often, I go on WRKF’s Talk Louisiana with Jim Engster and talk about what’s happening in health insurance, healthcare reform and other topics on. I was on the air just this week when I got this question:

“You cannot buy your health. Why do I have to pay for the sins of others?”

  • John, New Roads

It’s a question I get a lot. My response: “Insurance is simply a way to share risks.” Last week, we talked about why Blue Cross and Blue Shield of Louisiana exists. We want to improve the health and lives of Louisianians and to do that, we (everyone paying a premium) all have to share the risks. That means we also need to accept that we can’t really control what the other people in the risk pool are doing; we can only work on our own health.

The fact is, none of us really knows when our next illness or chronic condition will set in. If you didn’t have insurance and had to pay out of your own pocket, you could be out a lot of money, even thousands of dollars.

Check out this video, where I explain how insurance works and talk about what you can do to get the most out of your healthcare coverage.

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