What is health insurance?
What is health insurance?
Health insurance is a type of insurance coverage that covers the cost of medical and surgical expenses of an insured person.
Depending on the type of health insurance coverage, the insured pays out-of-pocket costs and receives a reimbursement, or the insurer makes payments directly to the provider.
In countries without universal health coverage, such as the United States, health insurance is commonly included in employer benefit packages.
The types
There are two main types of health insurance:
Private health insurance: The Centers for Disease Contro and Prevention (CDC) says that the health system in the United States depends heavily on private health insurancePublic or government health insurance: in this type of insurance, the state subsidizes medical care in exchange for a premium.
Health savings accounts: a US innovation in health insurance
In the United States, the health insurance industry has changed rapidly in recent decades. It is the traditional health insurance in which the medical provider (usually a doctor or hospital) is paid a fee for each service provided to the patient covered by the policy. An important category associated with compensation plans is consumer-directed medical care (CDHC). Consumer-directed health plans allow people and families more control over their health care, including they spend on health care services.
Health insurance for small businesses: the best policy is a great agent
For many consumers, buying a health insurance policy on their own can be a huge undertaking. Buying a health insurance policy is not like buying a carsince the buyer knows that the engine and transmission are standard and that electric windows are optional. A health insurance plan is much more ambiguous and, often, it is very difficult for the consumer to determine what type of coverage is standard and what other benefits are optional. In my opinion, this is the main reason why most of the insured do not realize that they do not have coverage for a specific medical treatment until they receive a large hospital bill that states "the benefits were denied."
Sure, we all complain about the insurance companies, but we do know that they serve a "necessary evil". And, although buying health insurance can be a frustrating, daunting, and slow task, there are certain things you can do as a consumer to make sure you are buying the type of health insurance coverage that you really need. fair price
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