The term health insurance is generally used to describe a form of insurance that pays for medical expenses. It is sometimes used more broadly to include insurance covering disability or long-term nursing or custodial care needs.
It may be provided through a government-sponsored social insurance program, or from private insurance companies. It may be purchased on a group basis (e.g., by a firm to cover its employees) or purchased by individual consumers. In each case, the covered groups or individuals pay premiums or taxes to help protect themselves from high or unexpected healthcare expenses. Similar benefits paying for medical expenses may also be provided through social welfare programs funded by the government.
By estimating the overall risk of healthcare expenses, a routine finance structure (such as a monthly premium or annual tax) can be developed, ensuring that money is available to pay for the healthcare benefits specified in the insurance agreement. The benefit is administered by a central organization, most often either a government agency or a private or not-for-profit entity operating a health plan.
Historical Background Of Health Insurance
A brief history of health insurance coverage reveals that in the aftermath of World War II, the US government sought to provide maximum benefits to the populations in her efforts to reduce the burden otherwise incurred on rise in wages. This policy continued for a number of years, until the introduction of relevant laws in 1950 to provide Medicare for the needy populations of the state.
This was also the first time that the government participated in any form of financing health care on behalf of the populations, and this was accomplished through direct payment to the various health care providers including doctors, physicians and hospitals.
The U.S Government Played A Vital Role In Introducing Health Care Insurance
The US government also introduced the famous "Medical Assistance to the Aged" legislation in the decade of 1960s, opening doors of medical assistance and other health care services to the elderly and poor populations though putting restrictions on the extent of medical expenses.
This was followed by the passage of legislation for the establishment of 'Medicare and Medicaid Programs' in 1965 making a part of the Social Security Act. Responsibilities of these programs was entrusted to the Department of Health, Education and Welfare, all of who are presently covered under a single department of Health and Human Services.
The Medicare program was however run by the Social Security Administration, while the Medicaid program was run by the Social and Rehabilitation Service. Both these areas were then transferred to the newly formed Health Care Financing Administration (HCFA) as of year 1977, and renamed again as the Centers for Medicare & Medicaid Services (CMS).
If You Opt For Low Cost Health Insurance, What Are The Advantages and Disadvantages At the moment healthcare costs in the U.S are spiraling out of control. Health insurance premiums are going up and most people now cannot even afford basic health care insurance. Low cost health insurance is an affordable alternative to normal health insurance coverage.
So what exactly is low cost health insurance? Well, low cost health insurance is basically insurance available at a more affordable or low rate. Here the premium that you pay is a small amount. With low cost health insurance, you do not have to really worry about the medical bills that you will incur. The main aim of low cost health insurance coverage is to look after the health of yourself and your family in an inexpensive manner.
However there are some big disadvantages to low cost health insurance. This is because as you are paying lower premiums this means that you are getting less benefits and coverage.
So what is a good health insurance policy? A good health insurance policy contains several types of coverage. Basic insurance includes hospital, surgical, and physicians' expense. In addition, major medical coverage is necessary in case of an accident or illness. These may be purchased separately, but you will get more complete coverage if they are combined in a single policy.
Basic Coverage
Hospital expense insurance pays for your room and board costs if you are hospitalized. Additionally this insurance typically covers other expenses, such as use of the operating room, x-rays, drugs, anesthesia, and laboratory charges.
Surgical Expense Insurance
Surgical expense insurance pays surgeons' fees and costs related to surgery. Related costs may include assistant surgeon fees, anesthesiologist fees, or operating room charges. Surgical expense benefits are generally paid according to a set schedule.
Physicians' Expense Insurance
Physicians' expense insurance pays for visits to a doctor's office or hospital visits. Usually, the health policy specifies a maximum number of visits per injury or illness.
Major Medical Insurance Major medical insurance is designed to protect against major accidents or illness. It is usually a broad policy with high maximum benefits. Most major medical policies provide at least $250,000 of coverage. And although coverage can vary from one plan to plan, the following are included in most major medical policies:
* Hospital services and supplies (medical and surgical)
* Hospital room and board, including intensive and cardiac care
* Physicians' services (diagnostic, medical, and surgical)
* Nursing services
* Other medical practitioners' services
* Anesthesia and anesthesiologists' fees
* Ambulance service
* Laboratory and diagnostic tests, including x-rays
* Radiology and other therapy
* Blood and plasma
* Oxygen
* Dental treatment resulting from injury
* Prescription drugs
* Outpatient services
* Convalescent nursing home care
* Home health care
* Purchase of prosthetic devices
* Casts, splints, and crutches
However when people opt for low cost health care, they get very few of these benefits which can be detrimental to their health. And if they develop any fatal diseases such as cancer or AIDS their health insurance does not cover any expenses.
So while low cost health insurance is fine for some, it has plenty of disadvantages as well.
What Is The Need For Health Insurance In order for one to have a secured life, there are particular things that need to be done. Safeguarding one’s self is the most important, and this may take place in the form of a healthy lifestyle. It must be asserted that having a healthy life style is not the only thing that one needs to consider because there are unforeseen things that could happen.
Benefits Of Health Insurance
Though one may take great care of him or herself, there is always a chance of a person falling ill. This means that any type of ailment can befall a person; it may even be severe and last for a long period. Types of illnesses that can take one by surprise include cancer. This type of illness is something that requires a great deal of consideration; it needs to be considered that it requires a great deal of expense treat, and those with out treatments do not have a chance of surviving.
Though one may not be able to prevent getting a disease, there is a lot more that s/he could do to prevent having slimmer chances of survival in case of disease. If a person gets him or herself insured, treatment can be taken care of.
Health insurance is a means of backing one self up in case of unforeseen circumstances. It is a method of providing funds for treating an illness that one could get unexpectedly. A person single-handedly may not be able to take on the expenses of a serious ailment, and for this reason s/he would need help. The help that one can get is in the form of health insurance, but this requires input on a regular basis. This input is referred to as premium.
Premiums may vary by the amount one has to put in on a regular basis, and the amount is dependent on the level of coverage. The higher a person’s chances are of developing a serious ailment, the higher the premium would be. Also, the amount of coverage that one wants influences the premium and the length of insurance as well.
Considering the chances of a person developing a serious illness, it must be asserted that insurance companies need to assess a person’s condition before ensuring them. If they find out that a person has already gotten symptoms that are close to the early stages of cancer or any serious disease, the insurance company may reject the individual’s application. If they do decide to insure a person in spite of their high chance of developing a serious illness that is costly to treat, they may insure the individual for a much smaller amount.
The chances a person then has of dealing with an ailment, should it develop, will be limited. This is due to the lack of funds. Appropriate medical attention that is required cannot be supplied, and for this reason a person may die. Hence, it is advised that a person should get a medical checkup and insurance as early as possible before any disease develops. A person’s chances of survival are greater in this way, and even incase of minor illnesses one can cover a great deal of the cost.
It is better to be safe than sorry as is said, and so, getting health insurance at the earliest possible time is the best ting to do.
It may be provided through a government-sponsored social insurance program, or from private insurance companies. It may be purchased on a group basis (e.g., by a firm to cover its employees) or purchased by individual consumers. In each case, the covered groups or individuals pay premiums or taxes to help protect themselves from high or unexpected healthcare expenses. Similar benefits paying for medical expenses may also be provided through social welfare programs funded by the government.
By estimating the overall risk of healthcare expenses, a routine finance structure (such as a monthly premium or annual tax) can be developed, ensuring that money is available to pay for the healthcare benefits specified in the insurance agreement. The benefit is administered by a central organization, most often either a government agency or a private or not-for-profit entity operating a health plan.
Historical Background Of Health Insurance
A brief history of health insurance coverage reveals that in the aftermath of World War II, the US government sought to provide maximum benefits to the populations in her efforts to reduce the burden otherwise incurred on rise in wages. This policy continued for a number of years, until the introduction of relevant laws in 1950 to provide Medicare for the needy populations of the state.
This was also the first time that the government participated in any form of financing health care on behalf of the populations, and this was accomplished through direct payment to the various health care providers including doctors, physicians and hospitals.
The U.S Government Played A Vital Role In Introducing Health Care Insurance
The US government also introduced the famous "Medical Assistance to the Aged" legislation in the decade of 1960s, opening doors of medical assistance and other health care services to the elderly and poor populations though putting restrictions on the extent of medical expenses.
This was followed by the passage of legislation for the establishment of 'Medicare and Medicaid Programs' in 1965 making a part of the Social Security Act. Responsibilities of these programs was entrusted to the Department of Health, Education and Welfare, all of who are presently covered under a single department of Health and Human Services.
The Medicare program was however run by the Social Security Administration, while the Medicaid program was run by the Social and Rehabilitation Service. Both these areas were then transferred to the newly formed Health Care Financing Administration (HCFA) as of year 1977, and renamed again as the Centers for Medicare & Medicaid Services (CMS).
If You Opt For Low Cost Health Insurance, What Are The Advantages and Disadvantages At the moment healthcare costs in the U.S are spiraling out of control. Health insurance premiums are going up and most people now cannot even afford basic health care insurance. Low cost health insurance is an affordable alternative to normal health insurance coverage.
So what exactly is low cost health insurance? Well, low cost health insurance is basically insurance available at a more affordable or low rate. Here the premium that you pay is a small amount. With low cost health insurance, you do not have to really worry about the medical bills that you will incur. The main aim of low cost health insurance coverage is to look after the health of yourself and your family in an inexpensive manner.
However there are some big disadvantages to low cost health insurance. This is because as you are paying lower premiums this means that you are getting less benefits and coverage.
So what is a good health insurance policy? A good health insurance policy contains several types of coverage. Basic insurance includes hospital, surgical, and physicians' expense. In addition, major medical coverage is necessary in case of an accident or illness. These may be purchased separately, but you will get more complete coverage if they are combined in a single policy.
Basic Coverage
Hospital expense insurance pays for your room and board costs if you are hospitalized. Additionally this insurance typically covers other expenses, such as use of the operating room, x-rays, drugs, anesthesia, and laboratory charges.
Surgical Expense Insurance
Surgical expense insurance pays surgeons' fees and costs related to surgery. Related costs may include assistant surgeon fees, anesthesiologist fees, or operating room charges. Surgical expense benefits are generally paid according to a set schedule.
Physicians' Expense Insurance
Physicians' expense insurance pays for visits to a doctor's office or hospital visits. Usually, the health policy specifies a maximum number of visits per injury or illness.
Major Medical Insurance Major medical insurance is designed to protect against major accidents or illness. It is usually a broad policy with high maximum benefits. Most major medical policies provide at least $250,000 of coverage. And although coverage can vary from one plan to plan, the following are included in most major medical policies:
* Hospital services and supplies (medical and surgical)
* Hospital room and board, including intensive and cardiac care
* Physicians' services (diagnostic, medical, and surgical)
* Nursing services
* Other medical practitioners' services
* Anesthesia and anesthesiologists' fees
* Ambulance service
* Laboratory and diagnostic tests, including x-rays
* Radiology and other therapy
* Blood and plasma
* Oxygen
* Dental treatment resulting from injury
* Prescription drugs
* Outpatient services
* Convalescent nursing home care
* Home health care
* Purchase of prosthetic devices
* Casts, splints, and crutches
However when people opt for low cost health care, they get very few of these benefits which can be detrimental to their health. And if they develop any fatal diseases such as cancer or AIDS their health insurance does not cover any expenses.
So while low cost health insurance is fine for some, it has plenty of disadvantages as well.
What Is The Need For Health Insurance In order for one to have a secured life, there are particular things that need to be done. Safeguarding one’s self is the most important, and this may take place in the form of a healthy lifestyle. It must be asserted that having a healthy life style is not the only thing that one needs to consider because there are unforeseen things that could happen.
Benefits Of Health Insurance
Though one may take great care of him or herself, there is always a chance of a person falling ill. This means that any type of ailment can befall a person; it may even be severe and last for a long period. Types of illnesses that can take one by surprise include cancer. This type of illness is something that requires a great deal of consideration; it needs to be considered that it requires a great deal of expense treat, and those with out treatments do not have a chance of surviving.
Though one may not be able to prevent getting a disease, there is a lot more that s/he could do to prevent having slimmer chances of survival in case of disease. If a person gets him or herself insured, treatment can be taken care of.
Health insurance is a means of backing one self up in case of unforeseen circumstances. It is a method of providing funds for treating an illness that one could get unexpectedly. A person single-handedly may not be able to take on the expenses of a serious ailment, and for this reason s/he would need help. The help that one can get is in the form of health insurance, but this requires input on a regular basis. This input is referred to as premium.
Premiums may vary by the amount one has to put in on a regular basis, and the amount is dependent on the level of coverage. The higher a person’s chances are of developing a serious ailment, the higher the premium would be. Also, the amount of coverage that one wants influences the premium and the length of insurance as well.
Considering the chances of a person developing a serious illness, it must be asserted that insurance companies need to assess a person’s condition before ensuring them. If they find out that a person has already gotten symptoms that are close to the early stages of cancer or any serious disease, the insurance company may reject the individual’s application. If they do decide to insure a person in spite of their high chance of developing a serious illness that is costly to treat, they may insure the individual for a much smaller amount.
The chances a person then has of dealing with an ailment, should it develop, will be limited. This is due to the lack of funds. Appropriate medical attention that is required cannot be supplied, and for this reason a person may die. Hence, it is advised that a person should get a medical checkup and insurance as early as possible before any disease develops. A person’s chances of survival are greater in this way, and even incase of minor illnesses one can cover a great deal of the cost.
It is better to be safe than sorry as is said, and so, getting health insurance at the earliest possible time is the best ting to do.
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