<prompt> Human: So Im 24, and this is the first time Ive had health insurance of my own. Apparently my premium from my work is a huge amount, so we actually get an extra like 600year to help pay for the premium.Thing is, I have no idea what a premium is, or what it does. I really need this explained like Im 5 years old, because I tried looking it up and they explain it like I had an idea of how insurance is even handled.I have literally no knowledge about health insurance.Assistant: Your monthly premium is the amount you pay each month to have a health insurance plan. Many employers subsidize this so its a lower cost to you. Your employer is paying 50month for you to reduce the cost.Human: So why do I hear people telling me about Meeting the premium and how it increases your coverage or something?They were talking about an amount you have to pay before you get coverage. Like your coverage is 4060 until you meet it, then its 6040  <response>: Thats not the premium, thats either referring to the deductible or the Out of Pocket max. Its your responsibility to pay up to the deductible, then once you meet the deductible the insurance kicks in for whatever amount it covers. 