What is health insurance?

Health insurance is one of the type of insurance coverage that covers the cost of an insured individual's medical, surgical expenses and so on. Affordable Care Act requires certain health benefits be covered in all health plans. It also tells that every health insurance company is unique in what coverage they provide and how much those covered benefits cost.  Taking health insurance is one of those things an individual cannot ignore. Inflation in medicare or medical treatment is a lot higher when compared to general inflation ,or inflation in other categories like food and clothing. While inflation in most categories is in single digits, inflation in medicare is often higher than others.

The different types of health plans include Health Maintenance Organization (HMO), Point-of-Service (POS), Preferred Provider Organization (PPO), Fee For Service (FFS) etc. Here some plans cover vision and dental. Two main types of health insurance include Private health insurance, Public or government health insurance. Insurers can also be categorized by the way they administer their plans and connect with healthcare providers which Managed care plans, Indemnity, or fee-for-service plans,  Health maintenance organizations (HMOs), Preferred provider organizations (PPOs), Point-of-service (POS) plans etc. The Centers for Disease Control and Prevention (CDC) say that the U.S. healthcare system relies heavily on private health insurance and  In public and government type of insurance, the state subsidizes healthcare in exchange for a premium.

Medicare or medical costs are rising year on year, here the  inflation in medicare is higher than inflation in food and other articles. Inflation in food and clothing is in single digits, while medicare costs usually escalate in double digits. There include various need for a health insurance. One way to provide for health-related / medical emergencies is by taking health insurance and it  offers considerable flexibility in terms of disease / ailment coverage. For instance, certain health insurance plans cover as many as 30 critical illnesses and over 80 surgical procedures now. The insurance plan disburses the payment towards surgery/illness regardless of actual medical expenses which make more beneficial for the patients. The policy continues even after the benefit payment on selected illnesses, such that with health insurance, ew are assured of a more secure future both health-wise and money-wise. This makes health insurance policiescritical for individuals, especially if they are responsible for the financial well-being of the family. For more