Health Insurance Info Guide

What can supersede the importance of health? Good health is one of the most precious assets of a human being. Thus it is not just important but mandatory to insure and thus secure your biggest asset against all kinds of threats.

Health insurance can be defined as a policy that will pay a fixed amount of money for medical expenses and treatments. Health insurance is basically a way to ensure protection against any sickness or injury. Health insurance includes various types of insurance such as accident insurance, disability income insurance, medical expense insurance, and accidental death and dismemberment insurance.

Health insurance is your best friend in the hours of need. It is a great support to your family when hefty medical bills fall over their heads and there is immense expenditure on recovery of the person concerned.

Based on the needs and requirements of people there are different kinds of health insurance policies available-

o Fee-for-Service Plans- is that where the insurance companies pay fees for the services offered to the insured people. The insurer only pays for part of your doctor and hospital bills and pays monthly fee called premium. Before the insurance payments begin, a specified amount of money in the form of deductibles is to be paid. After paying the deductible for the year you share the bill with the insurance company and then your part is known as ‘coinsurance’. Fee-for-service comes in two ways- Basic protection and Major medical.

o Health Maintenance Organizations- these cbdhintcom are prepaid health plans. HMO members pay a monthly premium in return of which the HMOs provide complete care to you and your family. This also includes the visits of doctors, hospital stays, emergency care, surgery, lab tests, x-rays and other therapies.