Health Insurance A Necessity of Life

Health is the biggest and most crucial asset of every living being. A health insurance policy is meant to financially assist you in case there occurs a setback to your health. The insurer may be a private organization or a government agency. In a health policy, coinsurance refers to the percentage of the medical bills that the insured individual will have to pay after the deductible is met. There are different types of health insurance but mainly all the health insurance pays a fixed percentage of the expenses for the policy holders bill. There are several means by which an individual can get health insurance. A person may pay for his or her own insurance. A person may receive health insurance as part of an employment package. A person may receive health insurance through local or Federal programs. In many instances, there can be a combining of the premiums paid. What that means is that, for example, an employer might pay a certain amount of the medical insurance premium and the employee pays the remainder of the premium, usually through payroll deduction. In other cases, an employer or government entity may pay the full amount of the premium. As with all types of insurance, health insurance comes in many forms and is available at differing levels of coverage. The best case scenario would be if an employer paid the full amount of the monthly premiums and there were no co-pays or deductibles charged to the patient. This type of coverage is rare, however, unless you are extremely well placed in a company or you are living below the poverty line. Most consumers will be in a co-pay system of health insurance wherein they are responsible for a certain amount of the bill and the insurance company will pay the rest. As you might imagine, there are many different levels of coverage in these arrangements as well.

Advertisements

Tags:

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: