The definition of Insurance Premium, and how it fits into the Zenefits Health Insurance Marketplace
What is an insurance premium?
An insurance premium is the payment, or installment you agree to pay an insurance company in order to have coverage.
How does an insurance premium work?
With employer sponsored benefits, companies may choose to subsidize the cost of the insurance premium and deduct the rest from an employee’s paycheck. Premiums are usually priced depending on the level of coverage and plan type offered.