Health insurance will protect you and your dependants against any financial constraints arising on account of a medical emergency. Basically, the client pays a sum of money called the Premium and in turn the Insurance firm would commit to pay a predetermined sum of money to meet the customer’s claims.
Health insurance like other forms of insurance is a form of collectivism by means of which people collectively pool their risk, in this case the risk of incurring medical expenses. It is sometimes used more broadly to include insurance covering disability or long-term nursing or custodial care needs. It may be provided through a government-sponsored social insurance program, or from private insurance companies. It may be purchased on a group basis or purchased by individual consumers. In each case, the covered groups or individuals pay premiums or taxes to help protect themselves from high or unexpected healthcare expenses. Similar benefits paying for medical expenses may also be provided through social welfare programs funded by the government.
Health insurance companies offer many innovative policies and schemes to their customers nowadays. The latest product in this line is ‘cashless hospitalisation’. Under this plan, individuals insured do not have to pay for their hospital bills in case of hospitalisation; the insurance company settles the bill directly. But, certain terms and conditions have to be met. For example, the hospital needs to have a tie-up with the insurance company and the documents need to be in order.
Health insurance will protect you and your dependants against any financial constraints arising on account of a medical emergency. Basically, the client pays a sum of money called the Premium and in turn the Insurance firm would commit to pay a predetermined sum of money to meet the customer’s claims.
Health insurance like other forms of insurance is a form of collectivism by means of which people collectively pool their risk, in this case the risk of incurring medical expenses. It is sometimes used more broadly to include insurance covering disability or long-term nursing or custodial care needs. It may be provided through a government-sponsored social insurance program, or from private insurance companies. It may be purchased on a group basis or purchased by individual consumers. In each case, the covered groups or individuals pay premiums or taxes to help protect themselves from high or unexpected healthcare expenses. Similar benefits paying for medical expenses may also be provided through social welfare programs funded by the government.
Health insurance companies offer many innovative policies and schemes to their customers nowadays. The latest product in this line is ‘cashless hospitalisation’. Under this plan, individuals insured do not have to pay for their hospital bills in case of hospitalisation; the insurance company settles the bill directly. But, certain terms and conditions have to be met. For example, the hospital needs to have a tie-up with the insurance company and the documents need to be in order.
Tags: Health insurance
This entry was posted
on Wednesday, February 10th, 2010 at 9:48 am and is filed under Health insurance.
You can follow any responses to this entry through the RSS 2.0 feed.
You can leave a response, or trackback from your own site.
