Health insurance covers the whole or a part of the risk of a person incurring medical expenses. It is basically a type of insurance coverage that covers the cost of an individual’s medical and surgical expenses. Medical insurance can protect you against the financial and health risks of illness or injury
The Purpose of Health Insurance
Every individual should must have a health insurance policy to cover the expensive medical costs for various health related expenses. The coverage benefits and costing differ from plan to plan and varies with every insurance provider. When you purchase a health insurance policy, you are given a health insurance identity card which you present to the clinic, doctor or hospital for verification purposes. Health insurance policies generally involve monthly payments called premiums. In addition, a health plan member may have to pay a deductible, which makes him responsible for total charges up to a certain level before the insurer will begin paying a portion of claims.
Benefits of Health Insurance
Emergency and Chronic Care:
Chronic patients have a higher risk to consult an emergency department than other patients, especially if their chronic care is not systematically organised. Health insurance provides access to and financial protection against medical costs in the event of an accident, injury or diagnosis of a chronic illness that requires ongoing treatment by a specialist. The insurance policy gives patients access to medical care and alleviates at least some of the worry associated with treatment costs.
15 Common Chronic Conditions Used to Define Multiple Chronic Conditions
|High blood pressure|
Ischemic heart disease
Chronic kidney disease
Chronic obstructive pulmonary disease (COPD)
Most health policies covers a set of preventative care. Preventative health care consists of measures taken for disease prevention, as opposed to disease treatment. It allows individuals to manage the cost of health care related to the birth of a child, preventative care and treatment for complaints such as a headache or the common cold. The need for and interest in preventive care is driven by the imperative to reduce healthcare costs while improving quality of care and the patient experience.
For example, depending on your age, you may have access to preventive services such as: Blood pressure, diabetes, and cholesterol tests. Regular checkups and some standard medical tests, generally paid by the health insurer, also allow physicians to detect and treat health problems that could become serious illnesses.
Preventive care is the care you receive to prevent illnesses or diseases. It also includes counseling to prevent health problems. Preventive care may also help reduce your health care costs down the road if you catch a problem early, or if an immunization keeps you from getting a serious illness.
There are 3 set of preventive services :
- For Children
- For Women
- For Adults
- A cumulative bonus/No Claim Bonus benefit varies from insurer to insurer that is provided to the policyholder for every claim free year.
- Cashless facility or cashless hospitalisation in health insurance gives you facility to get treatment in hospitals having a tie-up with Third Party Administrators (TPA) and/or insurance companies, anywhere in the country where all expenses of your treatment will be paid directly by the company to the hospitals.
- Health Check ups: Insured individuals can avail free health check ups at regular intervals at medical establishments enlisted with the insuring agency.