The need of Health Insurance

Health Insurance

Health insurance (also known as health care or medical care) is the business and organisation of providing a pool of funds to help with the costs associated with illness, injuries, disability, or disease. It collects a fee from the individual who uses its services and distributes that money to members who are enrolled in its plan.

5 reasons why you need health insurance

1. Medical care is expensive:
In the United States medical care is expensive due to its market based approach. The average American spends over $2,000 each year on health care expenses but only receives around $300 back after deductibles and copayments are paid. In other words, Americans save $1,700 in health care costs each year that they do not pay for.

2. Benefits of having health insurance:
Despite the misconception that health insurance companies have a hard time finding providers, the opposite is true. In fact, many people can't find health insurance because there are so many companies to choose from. If you are healthy and make a small amount of money, you may pay almost no cost for your health insurance. If you are unhealthy and make a high amount of money, you may pay more for your healthcare than if you were uninsured.

3. No Claim Bonus (NCB)
Some people think that the way to get a no claim bonus from your health insurance company is to go without medical care. This is not true, however. If you are healthy, you must go to the doctor when you need medical care. The reason for this is simple; if you don't go to the doctor when medically necessary, then you will certainly be turned down for no reason if yet another accident occurs.

4. Specialty medicine
Another myth about health insurance companies is that they are against cutting edge medicine. Specialty medicine Another myth about health insurance companies is that they are against cutting edge medicine. On the contrary, many companies are quite willing to accept new medical treatments and research. The challenge is finding a company that can pay for these treatments. In both law and medicine, there is a concept of specialty medicine. Specialty medicine is the use of highly specialised forms of treatment which may be used by individual doctors or hospitals within their field. Treating diseases with holistic methods A lot of people turn to holistic healing in order to treat their health issues as opposed to going through drugs and surgery for every single thing that goes wrong with them.

5. Tax benefit in health insurance
Many people fear that health insurance companies will not offer great benefits for their family as well as high deductibles. In reality, there are a lot of tax benefits in health insurance plans that can help you lower your taxes. For example, if you are retired or have a pension, your employer may offer you health care insurance that can be separated from your employment and tax-free.

How to select the right health insurance policy

January is the time when insurance companies that offer coverage for individuals will make decisions about what health plan to offer for next year. Choosing the right policy can save you a lot of money on health care in most cases. It also lets you take steps to better protect your family from high medical bills, reduce stress by knowing that your family’s health care is covered, and help avoid some of the restrictive rules in the individual market.

Here are a few tips to guide you through the buying process:

● There are different types of health plans: health maintenance organisations (HMOs), preferred provider organisations (PPOs), point-of-service (POS) plans, and fully-insured plans. If you have a pre-existing condition or if you smoke, consider a fully-insured plan.
● If not, most people should get coverage through PPOs or HMOs that cover every major medical condition.
● Those who know their family’s medical history will find it easier to find a plan that meets their needs. HMOs and PPOs have lower premiums, which makes them great for people who have fewer medical bills.
● In choosing an HMO or PPO, make sure you understand the rules about referrals and when you must get care from a primary care doctor or specialist under the plan.

Different types of health insurance policies

Americans spend more than $200 billion a year on health care, but it's not always easy to understand exactly what these policies cover and what they don't. You can't rely on your friends or relatives to discuss the issue with you either, given that they might have very different perspectives on what you need in a plan. Health Maintenance organisation (HMO) ● HMO provides consumers with information on all types of health insurance policies and the basics of each.
● The organisation's website also includes a guide on how to choose a policy, as well as links to state-specific information. For those who are interested in learning more about health care reform, they have links to articles written by The New York Times, The New England Journal of Medicine and Business Weekation.
● HMOs are health insurance companies that restrict or prohibit access to some types of care or services. These restrictions can include what kinds of facilities you may go to if you need care, and can even extend to health care providers.
● The organisation's website provides information on every major health insurance company that exists, as well as links to state-specific information. In addition, consumers can find out which HMO has the best coverage for their area and compare the costs of different plans.

Preferred Provider Organisation (PPO)
To enhance the health care experience of its members, The Preferred Provider Organisation (PPO) was created. PPOs offer a range of services to plan members and ensure that they receive quality care. However, it is important to understand the benefits, bonuses and features of membership in a PPO in order to choose which plan would be best for your particular needs. Below is a brief introduction to the various PPOs.

● The Premier Group Health Insurance Plan (Premier Group) provides basic health care coverage for its members through Blue Cross and Blue Shield of Ohio (BCBSOH) in the service area of Columbus, Ohio, and surrounding areas. "Blue Card" is offered to all persons between the ages of 18 and 64 who are not eligible for Medicare or Medicaid.
● For those who qualify, cash benefits are allowed for certain inpatient and outpatient hospital services. Only the deductibles and coinsurance amounts must be paid out of pocket.
● Premier Group is also a preferred provider organisation (PPO), referred to as a Premier Select PPO.
● This means that non-network medical providers provide services at negotiated prices different from retail or customary charges. The member only pays their deductible, coinsurance and copay, with no premium for their insurance plan.


In today's world of fast moving lifestyles and high standards of life, health care insurance helps people out financially with the cost of their own health care. As a growing number of people are not able to afford their healthcare coverage and obtain insurance for the longer life expectancies we face today, health care insurance is more important than ever.

Health care insurance protects individuals from major financial losses that could occur due to illness or injury. Health Care Insurance can be obtained through a variety of different sources including employer-sponsored plans, individual plans, or self-funded options. When obtaining and maintaining health care insurance, it is important to ensure that the policy selected meets your specific needs.

There are a number of different factors to consider when choosing the right health care insurance program. These considerations include the type of coverage, the cost, deductibles and copayments, limitations of coverage and other factors.

Individual plans may be suitable for individuals who do not receive benefits from their employer or are self-employed and don't have group health insurance benefits.