The 101 Of Health Insurance
Published on October 6th, 2014 | by Joan Makai
Health insurance is an insurance coverage or reimbursement assurance against the medical expenses incurred by an insured individual. In a broader sense it provides monetary claim for sickness or injury, accident, accidental death and disability. There are two ways in which the insurance coverage is provided. One in which the insured pays the cost and is then reimbursed by the insurance company to the policy holder and the other in which the company pays the amount directly to the hospital. Nowadays, there are many government and private health insurance companies which give health benefits to the insured people. The insured has to pay monthly or annual premium to access the health care benefits of the insurance agreement.
About a decade ago, health insurance facility was only for the privileged few, but now due to its affordable premium paying features it has become very popular among the common people too.
Health Insurance and The General Public
Earlier, only few people in the society who could afford to pay heavy premium enjoyed the medical benefits of health insurance. Those who are too tight on the pocket do not find the means to acquire insurance coverage. This however is a thing of the past, because at present anyone who is eligible to get health insurance can easily do so.
Keeping in mind the health care of the general public, several government and private health insurance companies have set low premium schemes for common masses. Besides individual insurance, affordable group health insurance and family health insurance have become very popular to the masses.
Health Care 101
Before choosing the health insurance company the applicant must inquire about the health benefits, accident coverage and rare disease coverage. Many insurance companies do not cover the pre-existing diseases so make sure you understand it well. The insurance agent inquires about the medical history of the applicant and asks for the latest medical reports especially in the case of senior citizens. Some insurance companies require patient to be hospitalized for a minimum period of 24 hours to be eligible to claim the insurance money.
Before getting hospitalized for a pre-planned surgery, the insured must check with the TPA department of the hospital whether the hospital has a tie up with the insurance company or not. In case the hospital is not tied-up with the insurance company then the insurer will have to pay the amount out of his pocket and will have to get it reimbursed later on which is not an easy job.
If you are looking for the most affordable health insurance sector then you must go for government agencies as it is more secured and reliable as compared to private sector agencies. Some insurance companies are ready to tailor the policy plans as per the needs of the client. Before tying up with any health insurance company however, you must first read its terms and policies and get everything clarified and sought after with the insurance agent. To enjoy long term benefits one must choose the insurance company wisely. Also try to compare different insurance companies, their schemes and benefits before getting tied up with any one.