Health Insurance In USA- What Should You Know About It?
What Is Health Insurance?
One term that you often hear is health insurance, which is coverage of your medical expenses. It is common, and various companies provide health insurance plans. Still, many of us don’t know much about it. Here is everything that you should know about health insurance.
Health insurance is the coverage of your medical payments. That includes medicines, surgery, and other related things. As per what health insurance plan you decide, either you pay the cost out of your pocket, which is later reimbursed, or the insurance company pays the medical bills directly.
When you talk about health insurance, the term “provider” means a hospital, doctor, healthcare, pharmacy or laboratory. The term “insured” means the one who owns the health policy, i.e., you.
Is health insurance a right or a product to buy?
Health insurance is available in almost all countries of the world. In major countries like the USA, health insurance is also included in every employer benefits package. It is an additional thing, which an employer gives to its employees.
In many countries, health insurance is provided by the state, and it is considered as a citizen’s right to claim for it. Examples of such countries are the United Kingdom and Canada. Just like education, health is viewed as a part of public service.
In other countries, the idea of health insurance is different. It is a citizen’s responsibility to insure him for health. The only exception is some groups of citizen’s, i.e., older adults, disabled, veterans, etc.
This model of health insurance is followed in all other countries including the USA. Lately, President Obama of USA introduced laws, which makes it mandatory for everyone to get a health insurance. In case of a failure, there are specific penalties that get imposed on the citizen.
All of us need an assistance to cover our medical expenses at a particular stage of life. The medical treatment and attention are never free unless your country is a welfare state. To avoid a problem in payments of medical bills, it is a good idea to consider health insurance.