Health insurance is basically a kind of insurance which pays a certain portion or the entire risk of an individual incurring incurred medical expenses in case of injury or illness. Health insurance is highly recommended by all health insurance companies because they know that it’s a business. The only way to gain maximum profit from the business, insurance agents are well aware of, is to attract as many people as possible to avail of their health insurance policies. It is considered a right for every person to have his health insured because it serves as a sort of safety net in times of unexpected health emergencies. Since everyone has medical needs at some point of time, it is only fair that he should be compensated for these medical costs.
Health insurance works on two basic principles: The health insurance policy owner pays a monthly premium to the insurer. The insurer then takes on a certain risk. In exchange, the insurer pays a certain monthly amount to the policy holder in the event that the policyholder gets ill and needs to seek medical care. In return, the insured pays monthly premiums to the insurer which is used by the company to offset the cost of medical care when the insured gets sick. As with all other plans, there are many different kinds of health insurance policies available. There are three broad categories of plans – PPO plans, HMO plans, and Indemnity Plans. Each category has its own set of benefits and limitations. The PPO plans offer the insured the freedom from out of pocket expenses in case the insured meets with an illness or becomes injured during an illness, while HMO and Indemnity Plans insure against financial hardships that may arise due to illness.
There are several factors which influence the premiums that you will pay for your health insurance plans. These include your age, gender, profession and family history. The age of the individual also affects the premiums as old people are more prone to get sick and they require higher medical treatment expenses. For this reason, HMO and PPO plans are usually limited to people below 35 years of age. Males, females and people with a family history of diabetes and heart conditions are more prone to get sick and they require higher medical insurance premiums. If you have had previous illnesses or injuries, then the premiums for your health insurance plans will also be high.
There are several plans available for individuals like those offered by private insurance companies. These health insurance plans are called Individual Health Policies. The most popular health insurance plan in the United States is the Medicare program. The Medicare insurance program covers some of the major medical expenses including hospitalization, surgical services and advanced surgical services. The Medicare supplement also covers some dental expenses and some prescriptions. In addition, the Medicare Supplement Plan can cover some part of your prescriptions and some medical expenses, which are not covered by the original Medicare program. Some of the services which are not covered by the original Medicare program, such as certain vision care and dental plans can be obtained through the supplemental plans. In the united states, United Healthcare of America, one of the largest providers of health insurance, offers a wide variety of individual health care policies. The agency also provides assistance to plan owners who want to switch their health insurance plans.