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Health Insurance

 

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    Health Insurance

    Health insurance is a type of insurance that covers medical expenses that arise due to an illness. These expenses could be related to hospitalisation costs, cost of medicines or doctor consultation fees. The purpose of health insurance is to protect an insured against the risk of financial loss he/she cannot individually afford caused by illness, injury or disability. Health Insurance are mainly of 2 types – PUBLIC HEALTH INSURANCE ( such as Mediclaim provided by Govt Companies ) & PRIVATE HEALTH INSURANCE ( include plans that contribute by private companies at market place – eg

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    Importance

    Health insurance protects you from unexpected, high medical costs. Just as if you need car insurance, in case anything happens to your vehicle, health insurance will cover you if you become sick or suffer an injury. Going without health insurance coverage (even for a short period) puts you at serious financial risk. ... Those lacking healthcare insurance may also go to the ER (emergency) for illnesses and injuries, which could have been treated elsewhere. They choose to do this because billing usually happens after treatment

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