What is Health Insurance, and Why Do You Need It?: Health Care Triage #2

The video explores the history and evolution of health insurance in the US, starting from the Civil War era to the present day. It discusses the development of Blue Cross and Blue Shield, the rise of employer-based insurance during World War II, and the introduction of Medicare and Medicaid. The necessity of insurance due to high healthcare costs is explained, along with a detailed breakdown of how insurance plans work, including premiums, deductibles, co-pays, and coinsurance.

What was the primary purpose of Obamacare according to the text?

How did the introduction of Blue Cross and Blue Shield change the landscape of health insurance?

What were the main reasons for the rise of employer-sponsored health insurance during World War II?

What challenges did the elderly and the poor face regarding health insurance before Medicare and Medicaid were established?

Explain the concept of pooling risk in health insurance as described in the text.

How does the deductible function in a health insurance plan?

What are the key components of a health insurance plan that individuals should consider when choosing a plan?