Health insurance plans are contracts between individuals and insurance companies that provide financial coverage for medical expenses. These plans help pay for services like doctor visits, hospital stays, and prescription medications. Depending on the plan, individuals may pay a monthly premium, deductibles, and co-pays for services received. There are various types of health insurance plans, including HMO (Health Maintenance Organization), PPO (Preferred Provider Organization), and EPO (Exclusive Provider Organization). Each type has different rules regarding provider networks and out-of-pocket costs. Choosing the right plan depends on personal health needs and financial situations.