Health Insurance - An Introdution
Health is wealth. Is that true? Of course, everyone wants to be healthy and this is why we say health is the greatest wealth in the world. Apart from a balanced meal, exercise, and so on, we need to have a health insurance to be in good health. Health insurance is, basically, a promise by an insurance company or health plan to provide or pay for health care services in exchange for payment of premiums.
Insurance policy has started since the 18th century. However, at that time, we had Accident Insurance. The first accident insurance company was Franklin Health Assurance Company of Massachusetts which was founded in the year 1850. This insurance was mainly offered because at that time there were a lot of accidents and injuries due to railroad and steamboat. Accident insurance agencies soon started sky rocketing. It was indeed very successful. People had started realising how important insurance is. In the year 1866, there were around sixty accident insurance companies which were set up and ultimately, the number of insurance companies kept on mushrooming.
Health insurance was proposed by Hugh the Elder Chamberlen in 1964. A health insurance is a contract renewable either monthly or yearly between the insurance company and the person. The Insurance company will provide you with a quotation of the insurance company. In the quotation, you will have the term of policy, that is how long are you covered with the health insurance. The duration of the health insurance will depend on the age of the insurance holder. If he is young, the insurance company may advise him to take a long term health insurance and if the person is old, it might be the contrary and get affordable health insurance. Apart from age, there are other factors like health and income which are taken into consideration when quoting a health insurance. Some insurance companies also do a medical check up before provide a health insurance policy. In the quote, you will also find how much you have to pay on a monthly or a yearly basis. The health insurance quotation all consists of all the benefits which it covers. Certain health insurance covers the insurer 100% but certain not. There are several conditions which are applied. Different amount is paid in case of natural death, accidental death, loss of one limb or two limbs or in case of permanent disability.
There are mainly four different types of health insurance plan, which are namely:
- Fee-for-Service Plans
- Health Maintenance Organizations (HMOs)
- Point-of-Service Plans (POS)
- Preferred Provider Organizations (PPOs)
These four different types of insurance may have different names however their goal is to provide medical care to people. Fee-for-service plan is the more affordable plan. However it has got some limitations. Preferred Provider Organization has got more options; however, this is the most expensive. Its up to you to decide which type of insurance is the best and which one you would like to purchase.
To get a better medical care, it is very important to have a good health insurance plan. You have health insurance companies all around your country; however, you have to decide which one is the best and will provide you with the best medical facilities. You can have health insurance quotes of different companies online. You can compare the price as well as the medical benefits which are provided by the health insurance company on the internet along with its quote.
Since health insurance has now become a necessity, do not waste time, get connected to the internet, compare prices and benefits and purchase a good health insurance.