As a subject, Health Insurance can be quite confusing for many. Although there is a lot of information available online about the basics of health insurance, here is a detailed approach that gives you all the information about the What, How, and Why of Health Insurance.
What Is Health Insurance?
Health Insurance is a type of insurance that helps pay for your medical expenses that might arise from an illness or accident. This can help you stay free from any financial worries and focus on improving your health.
Among the different types of health insurance available, there are those that are provided by the government and those that are provided by private insurance companies. Medicare and Medicaid are government-run health insurance.
Medicare is available for people who are 65 years of age or older, and for those who are disabled.
Medicaid is available for people who belong to the low-income category.
There are many private companies that provide health insurance plans. These are usually purchased by employers on behalf of their employees. Self-employed individuals also purchase these private health insurance plans. They typically require monthly premiums to be paid while government-run health insurance does not require any.
How Does Health Insurance Work?
Health insurance works more or less like your car insurance. When your car meets with a bad accident that necessitates a lot of repair work, the insurance company picks up a sizeable portion of the costs. In the same way, when you are suffering from an illness or a serious injury that requires hospitalization, the health insurance company will pick up some or most of your medical bills.
Apart from hospitalization, health insurance also covers various other things such as vaccinations, annual checkups, routine maintenance, and also preventive health.
Why Should You Buy Health Insurance?
One main reason why you should buy health insurance is to cover your medical expenses in case you get sick. Another important reason why you should buy health insurance is to avoid getting sick in the first place. Here is a low down on this:
Health Insurance acts as a Safety Net
Health insurance does act like a safety net if you happen to get injured or sick unexpectedly. It will be there to take care of your medical expenses in case you are not able to pay for them from your own pocket. In today’s world where health care treatments are getting more expensive by the day, health insurance can be a blessing in disguise. However, this is one decision you need to take ahead of time, as you never know when you might need it.
Health Insurance can Help Preventing Illness
Avoiding sickness is the best way to stay healthy and health insurance makes this possible. Most health insurance plans cover preventive health care and routine health care expenses such as:
· Vaccinations
· Annual checkups
· Scans and Screenings
· Blood Tests and Lab Work
All of these can help in maintaining your overall health and diagnosing any sickness before you even start showing the symptoms.
In case you have any pre-existing chronic health conditions such as heart disease, cancer, depression, or diabetes, you can get them covered in your health insurance by paying a higher premium. There are many health insurers who offer certain disease management programs, especially for these conditions.
Preventive and Routine Health care can be especially helpful for infants, kids, as well as pregnant mothers who need constant medical attention to stay healthy. Apart from physical health care, health insurance also covers behavioral and mental health care.
The Bottom Line
Now that you have a good understanding of health insurance, it is time to start looking for health insurance providers through health insurance leads. Get your quotes and compare their coverage and premiums before you finalize the best provider.