Category:
Medical and Health
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Medical Care Availability and Planning
There are a number of insurance policies today for nearly every kind of risk that people fear. One particular type of insurance is known as 'Medical Health Insurance". Medical health insurance is basically the insurance for your health. In case you fall into any kind of illness, the expenses which would occur will be paid by the insurance company.
Medical Health Insurance
There are a number of insurance policies today for nearly every kind of risk that people fear. One particular type of insurance is known as 'Medical Health Insurance". Medical health insurance is basically the insurance for your health. In case you fall into any kind of illness, the expenses which would occur will be paid by the insurance company.
A better explanation is as follow:
HEALTH INSURANCE:
Prepayment of medical care needed at the time of illness or disability. It is normally done through voluntary plans, either nonprofit or commercial or by compulsory national insurance plan, usually in compliance with a social security program.Now the question entails what is social security program?
Social security programs are made up for providing assistance by the government to the citizens those who incapable of earning or are dependant on others, confronting disabilities and illness. These plans are conducted by the employee's efforts.HISTORY:
Accident and illness insurance was initiated in the year 1883-84 in Germany by Otto von Bismarck, and then it was adopted by many leading countries like Great Britain, France and Soviet Union after the World War 1. In Britain, the national health insurance act of 1946, which was brought into effect in 1948, provided the complete rules and regulations of health insurance.HOW DOES IT WORK?
- Well the health insurance works like any other insurance. The person who wants to insure his health has to make a contract with an insurance company. In that agreement he agrees that he will be paying premiums to the insurance company at certain decided amount (normally here the amount is not too much as compared to other insurances) then until and unless he suffers illness or any kind of disability, he gets his cash value amounted to the agreed.
As there are many advantages of health insurance there are certain disadvantages such as:
- Insurance companies normally don't announce their insurance premium more than a year in advance. This means that if one gets ill he finds that his premiums have greatly increased. This is the reason why many think not to having insurance.
- If insurance companies try to charge every individual according to their health then there will be a thought of discrimination among the people.
- When a claim is made, the insurance company has to take the help of any legal lawyer as there are many people who don't pay their premiums on time.
- Health insurance is normally given according to the salary and employments of the person. This gives a disadvantage to unemployed people.
