what is health insurance An Overview - Healthy Food House
Home / Health A To Z / what is health insurance An Overview

what is health insurance An Overview

What Is Health Insurance?

Health insurance is a type of insurance coverage that substitutes the cost of an insured person’s medical and surgical expenditures. It depends on the type of insurance coverage, first the insured pays cost out-of-pocket and later that is refund and second is insurer makes payments right to the provider.
In health insurance terminology, ‘provider’ is used for clinic, hospital, doctor, laboratory or any pharmacy. And ‘insured’ is a person who is the owner of the health insurance policy.
It also ensures that if in future you need any medical treatment, you would not have to stress about NHS (National Health Insurance) waiting list and treatment’s paying cost.

health insurance

How to choose which Health Insurance cover is good for you?

There’s quite wide range of covers available. Some people decided to choose all-inclusive cover, whereas others opt to cover themselves in one or two fields. Your choice depends on the number of factors that are involved in your budget. If you want excess, it includes blood tests and x-rays along with the hospital you want to access. If you want a lower price, add a six-week safety net to bring the cost down.

Always make sure about these considerations because it also ensure that you’re getting the right policy for yourself, your family and also for your budget.

Types of Health Insurance Plans:

When you shop for health insurance, you have choices. If you are buying insurance from the marketplace, you’ll choose from the health plans that are arranged by level of benefits they offer:
Platinum: covers 90% of your medical cost, you pay only 10%
Gold: covers 80% of medical cost, you pay 20%
Silver: covers 70% on average of your medical cost, you pay 30%
Bronze: covers 60% of your medical cost, you pay 40%

Insurance brands are also associated with care levels. And each insurance brand offers you one or the more of common types of plans:
Health Maintenance Organizations (HMOs)
Point of Service (POS) plans
High Deductible Health Plan (HDHP) plans
Preferred Provider Organization (PPO) plans

Health Maintenance Organization (HMO)

This type of health insurance plan is considered as the most popular type you can buy. In this plan, a network of health care providers offers you to its whole services. For coordinating with all your health services and care you have to choose your own primary care provider.

Preferred Provider Organization (PPO) plans

A lessen amount of freedom is there to choose your health care providers. Under this plan, you can see any specialist that is in their network. It requires higher out-of-pocket cost if you see other doctors that are not in their network.

Point of Service (POS) plans:

POS mix the points of HMO with PPO. You will have to select your own primary care provider for regular check-ups. This plan is also considered as versatile plan and can be right for those people who want to pay little more for extra flexibility.

High Deductible Health Plan (HDHP) plans:

If you choose this plan then you have to pay less for your insurance. With HDHP plans, you have one of these health plans: HMO, PPO, or POS. This plan is right for those people who are with low monthly income and who want to save money. And for those who don’t plan to use their medical coverage extensively.



About habib

Check Also


Mysterious Honey Discovered That Kills All Bacteria Scientists Throw At It

Mysterious Honey Discovered That Kills All Bacteria Scientists Throw At It Australian researchers were amazed …