Basic Insurance Explained Just In Time For Obamacare

Obamacare is hard enough to understand, especially if you don't understand basic insurance.
1:50 | 10/02/13

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Transcript for Basic Insurance Explained Just In Time For Obamacare
Some people say they don't understand Obama camp at -- an understanding channels. Premiums deductibles co pays even just words to me. Premiums and I do you get your insurance company every month. The higher premiums go higher deductible a deductible of how much you pay for medical expenses before your insurance kicks and -- -- Jessica kitty chip bell. So let's say it's January -- you get into a bike accident -- bringing me is and you medical bills 2000 nights with a 1000 dollar deductible paid a thousand dollars. And then depending on your plan to pay a percentage of their meaning thousands now let's say at that I accidentally cost you 200 dollars -- -- -- painful next weekend and -- -- accent and measured on the -- you pay that involved. If it's happening to you can get terrible lack insurance -- not and you -- willing to ratify -- -- paying -- -- -- -- until -- at a -- 1009 -- so until you pay your deductible insurance doesn't help -- out after this point you'll only pay a descendant of an ankle but up until next thing. The good news is -- -- out of pocket limit how much you can -- percentages it's Alan accessing your personal appetite for risk and finally co pays. Co -- don't make any sense that -- Kobe that's -- that in -- have to pay every time you visited doctor act on purpose captions exists that people don't go to the doctor frank and -- -- -- -- -- -- -- -- But they also prevent people from coming that doctor because -- -- and people can afford them. So they hear your budget hundred you can spend on insurance and health funds -- -- in the fall off a bike and find a plan that suits you. Basically figure out your life all our hope that your parents can keep dating thing -- Welcome to a dull eyed and the --

This transcript has been automatically generated and may not be 100% accurate.

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