What Is Health Insurance?

Insurance coverage varies greatly, but basically is a type of insurance policy that pays a percentage of pre-negotiation of an insured is covered for medical treatment. Do you really need health insurance or can not live without it? The answer depends on whom you ask, and the question is not always easy.

What Is Health Insurance?

Like other forms of health insurance does not really become a problem until you need it. Car insurance does not do you any good until a car accident. Life insurance does not do anything good until you die. And health insurance does not do anything good until you need medical assistance. If you believe in Murphy's Law, that anything can go wrong, it is, then you probably should consider getting health insurance.

In some countries, health insurance is not offered by private companies as it is in America. In England, France, Canada, Sweden and Norway, for example, are doctors and hospitals are reimbursed by the government instead of an insurance company.

United States, there are three basic types of insurance:

1) Self-Insured/Uninsured. This is where a person has no insurance or health insurance but are responsible for paying 100% of insurance premiums. This group is estimated to be at least 30% of the U.S. population.

What Is Health Insurance?

2) care plans. Care plans are divided into three categories. All are essentially networks to provide contracted services by specific providers at contracted prices:

i) health organizations (HMOs) are prepaid plans in which members pay a fixed monthly fee, regardless of how medical care is required given month. HMOs provide health care varies from hospital visits and outpatient surgery, and usually insist that to stay within the network when you need the services of doctors and hospitals.

ii) preferred provider organizations (PPO) are groups of doctors and hospitals that provide medical services only to certain groups. PPO members typically pay for services they provided, and the PPO sponsor reimburses normally the cost of treatment. In most cases, the price of each type of service, negotiated in advance health care providers and the PPO sponsor.

iii) Point of Service (POS) plans are not as common as the other two. A type of managed healthcare system where you pay no deductible and usually only minimal co-payment when using a provider within your network. You must also choose a primary care physician is responsible for all referrals in the sales network. If you choose to go outside the network of health care, you will be subject to excess charges or deductibles.

What Is Health Insurance?

3) insurance plans allow participants to seek medical help when needed. Participants can visit any doctor or specialist, as often as deemed necessary. There are no restrictions when seeking medical help, but is by far the most expensive type of health insurance.

Which of these types of health insurance is right for you depends on your personal situation. Choosing health insurance is a tedious task and it can certainly be frustrating, but it's something everyone should consider, sooner rather than later.


See Alos: Car Insurance, Health insurance

Compulsory Insurance

Most people do not have the money to pay for losses they might cause while driving, so that governments require drivers to carry a certain amount of insurance to cover losses they might cause others suffer.Some governments, including every province and territory in Canada, also require drivers to carry coverage for their medical expenses and loss of income resulting from injuries related to driving

Compulsory Insurance

The three most important factors in determining your car insurance in Canada is your age, driving record and the amount of your deductible. First year drivers are paying much higher car insurance, but after a year of safe driving record and more tickets, you should be able to get a substantial discount on your car insurance. If you do not, then you should shop around for better prices.

Compulsory Insurance

If you drive an older car consider dropping collision coverage on your vehicle to reduce payments on your auto insurance. Another thing to consider is the fact that drivers who have completed an approved driver training in the last 3 years pay lower premiums. Car insurance in Canada can vary by hundreds if not thousands of dollars to boost security, respect for traffic laws and shop around for the best rate, and you should be able to find a decent price for your insurance car. Enjoy some of the many websites with free online quotes auto insurance before buying. If you are looking for a car loan, the easiest way is to compare the Internet, as there are many companies offering auto financing options and value-added products.

Compulsory Insurance