Health Insurance is one of the important insurance we need to get. Especially in these trying times where pandemic struck. Teaching us to make health as a top priority in our lives.
But how can we make our health a top priority ? The answer is Health Insurance.
Here’s the simple definition of health insurance for starters.
Health Insurance for starters. First of all, It’s a form of insurance wherein it pays all the medical expenses incurred as a result of an illness. These expenses are hospitalization bills, medical consultation fees or cost of medicine.
There are 2 types of health insurance, Private and Public Health insurance.
In Private Health Insurance. It covers the cost of private healthcare. Same like other insurance, wherein you need to pay monthly or annual premium. Your Insurance Provider will pay most or all of the cost on your private medical treatment. It’s a helping hand especially when you need it the most.
On the other hand, Public Health Insurance is more affordable than the private one. It requires no deductible and a lower administrative cost. The public health insurance are plans by the government for low-income individuals. The seniors are also part of the scope. Example of these are low-cost health insurance for adults. And free medical insurance for adults.
However, public insurance is less flexible than its private counterpart. Public policy holder have a limited selection on medical service providers.
How health insurance work ?
Your health insurance provider will cover the cost of the medical care. If you think you have a health problem, you can visit a healthcare facility. And let them know if you have private or public cover.
The difference is if you have a private cover. You may able to choose private hospital or specialist. While on the other hand the public cover have a limited option.
Then you need to tell your insurer about the claim. And they’ll confirm it if the treatment you need or choose are covered by the policy that you have. Insurer will approve the claim if the treatment is in the policy.
How much health insurance cost ?
The cost of health insurance differs from person to person. They calculate the premiums by the following factors:
The age – Age is an important factor when calculating for your health insurance premium. As you get older, the more you become at risk of developing health conditions.
The lifestyle – Your lifestyle also affect your premium. For example you’re a smoker, it will drastically affect the premium because they see you as a higher risk. Reducing alcohol and cigarette intake may help you bring the costs down.
Cover options – You can choose your own cover, basic or comprehensive. You can decide what you need the most this will help you lower the costs down.
Is there a free medical insurance for adults ?
Yes, Medicaid health insurance is free for those people who qualify. Also, it’s a government-based health insurance to help people with low-income or seniors.
Affordable Care Act Subsidy. Like Medicaid health insurance, it’s also a government plan to make health insurance less expensive. It can give low-cost health insurance for adults. Also, low-income earners can now buy and use inexpensive health insurance.