How the F$!k does health insurance work?

I am the person that reads the terms and conditions when apps update them. I have never signed a contract without squinting at the fine print and I negotiate whenever possible (sorry to my last car salesman). The being said- I have health insurance and I have no idea how it works or why I pay the amount that I do. The insurance documents were given to me during orientation when I started with my company and, even though I read through 37 pages of coverage and costs, I still have no idea how it was decided I would pay X amount per month. I know I am not alone- but I am curious.

Healthcare has a long history, but essentially, health insurance was invented because millions of people were going bankrupt trying to cover the costs of their medical needs. The government recognized it was a bad idea to make people choose between dinner and death- so health insurance was conceived.

There are 4 basic elements to most health insurance plans:

1. Monthly Premiums: This is the amount you pay each month whether you visit the doctor or not. If you’re employed and enrolled in the health insurance plan, this is usually deducted (pre-tax) from your paycheck.
2. Deductibles: Before your health insurance company will contribute toward any treatment, whether it be a hospital stay or a doctors visit, you have to pay this…