What Is Health Insurance? Type of Health Insurance
Health insurance policy is a type of insurance policy that handles the cost of a covered person’s medical and surgical bills.
In health insurance policy plan terminology, a hospital, clinic, doctor, health care practitioner, laboratory, or pharmacy that treats a person is known as the “provider.” The “insured” is the owner of the insurance policy or the person with the medical/health insurance policy plan coverage.
Depending on the type of health insurance policy plan coverage, either the covered costs out of pocket and is then refunded, or the insurer makes payments straight to the insurance company.
In countries without having universal health care protection, such as the United States, health insurance policy plan is generally included in company benefit packages. It is usually seen as a profession advantage.
According to the Kaiser Family Foundation, In the United State, the number of without insurance people has decreased from 44 million to less than 28 million. The investigators put this down to the latest changes in legislation.
A Commonwealth Fund 2011 record well informed that 25% of all U.S. citizens of working age group experienced a difference in health insurance policy plan coverage. Most people in the survey lost their health insurance policy plan when they possibly became unemployed or changed jobs.
The place of treatment in emergency sections varies significantly based on what type of health insurance policy plan a person has.
Type of Health Insurance:
- Private health insurance:
- Government or public health insurance:
Private health insurance: CDC (The Centers for Disease Control and Prevention) says that the United State medical care system depends on personal health insurance policy. In the National Health Interview Survey, investigators found that 65% of people under the age of 65 years in the U.S. have a type of personal health insurance policy coverage.
Government or public health insurance: In this type of insurance policy, the state subsidizes medical care in exchange for a premium quality service. Medicare, State Medicaid programs, the Veteran’s Health Administration, and the Indian Health Service are good examples of public health insurance policy coverage in the United State.
Other Types of Health Insurance:
- Managed care plans
- Fee-for-service plans
- Health maintenance organizations (HMOs)
- Preferred provider organizations (PPOs) and
- Point-of-service (POS) plans