What is Health Insurance and its Types
Health insurance is an agreement between a health insurance company and a policy-holder. Health insurance basically covers the surgical and medical expenses of a person. Usually there are two options of getting financial protection in case of medical emergency. Either the person pays to the hospital or clinic from his/her own pocket and then get this money back from the insurance company or insurance company have its own partner hospitals and clinics. This option is depends upon your insurance plan. There are certain other things that are to be decided before selecting a health insurance plan. Most of the people do not have knowledge about the health insurance and they find it very difficult to select insurance company.
In this article we will tell you about the different types and importance of health insurance and how to select a good insurance plan that will not cost too much on your pocket.
It is usually said that a good health is the blessing of God but at times human get diseased or ill. A Person do not know when a horrible accident may occur. In such time it becomes very difficult to manage the medical expenses. Health insurance is the companion of person in such situations. It also provide protection for the upcoming life. Most of the people don’t even bother to think about the health insurance but whenever they entrapped in medical emergency then they are forced to think about the health insurance.
Health Insurance Types
There are 2 major types of health insurance Managed and Traditional care which are further divided into 4 sub types.
• Preferred Provider Organizations
• Point of Service Plans
• Health Maintenance Organizations
• Traditional Indemnity Plans
Each of type of insurance plan has its own importance. But the selection of plan depends upon your needs. Some people think that Health Maintenance Organizations Plans is more better than Point of Service Plans. Before deciding a plan check the following things.
How many time you go to hospital in a month
Whether you have a genetic/chronic disease
You have a disease that needs medication regularly
How much amount you can pay in a month to your insurance company
1,Sun Life Insurance Company,AXA Insurance Company,Kaiser Permanente Insurance Company
2,TD Insurance Company,Zurich Insurance Company,Blue Cross and Blue Shield of Illinois Insurance Company
3,The Co-operators Insurance Company,Aviva Insurance Company, Humana Insurance Company