Health insurance

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Health Insurance

An insurance policy that provides coverage when the policyholder (or his/her dependent) becomes ill. For example, a health insurance policy may pay for most or all of the costs of a surgery. Health insurance may cover doctor's visits, medical procedures, prescription drugs, and so forth. The policyholder pays a premium each month in exchange for the coverage; additionally, the policyholder often must pay coinsurance and/or a copay for certain procedures. In the United States, many people procure health insurance through their employers because it is often expensive to buy on one's own. Likewise, many people have group insurance to provide medical coverage. A significant amount of debate exists as to the appropriate role of the U.S. government in regulating health insurance providers and whether the government should assume this role directly.

Health insurance.

Health insurance covers some of or all the cost of treating an insured person's illnesses or injuries. In some cases, it pays for preventive care, such as annual physicals and diagnostic tests.

You may have health insurance as an employee benefit from your job or, if you qualify, through the federal government's Medicare or Medicaid programs.

You may also buy individual health insurance directly from an insurance company or be eligible through a plan offered by a group to which you belong. As you do with other insurance contracts, you pay premiums to purchase coverage and the insurer pays some of or all your healthcare costs, based on the terms of your contract.

Some health insurance requires that you meet an annual deductible before the insurer begins to pay. There may also be coinsurance, which is your share, on a percentage basis, of each bill, or a copayment, which is a fixed dollar amount, for each visit.

Health insurance varies significantly from plan to plan and contract to contract. Generally, most plans cover hospitalization, doctors' visits, and other skilled care. Some plans also cover some combination of prescription drugs, rehabilitation, dental care, and innovative therapies or complementary forms of treatment for serious illnesses.

References in periodicals archive ?
Such plans generally cost 20 percent to 60 percent less than conventional low-deductible health insurance policies.
The Mental Health Parity Act, a federal law passed in October 1996 and scheduled to go into effect in January 1998, is an important step forward The act is limited in scope: It does not affect deductibles or co-payments, does not require that health insurance policies offer coverage for the treatment of mental illness, and applies only to large group plans.
A TECHNIQUE used to "map" moles should be included on demand under general health insurance policies, it has been claimed.
com)-- Healthcare Reform requires mandated loss ratios for individual health insurance policies of 80% and group health insurance policies of 85%.
Abu Dhabi Expatriates in the emirate of Abu Dhabi have until July 27 to renew their health insurance policies or subscribe to new ones, before the end of the amnesty period announced in May by the Health Authority Abu Dhabi (HAAD).
The Insurance Regulatory and Development Authority ( IRDA) has sent a circular to all insurance companies saying all health insurance policy holders subscribing to health insurance policies with a cover for three years or more can surrender them within 15 days if they are not satisfied with the terms and conditions of the agreement.
Blue Cross insures 50 percent of all Californians with individual health insurance policies.
The purpose of the Maryland regulation was to prevent the sale of insurance policies, which essentially served as health insurance policies for small businesses, but which did not comply with the consumer protection laws applicable to health insurance policies.
The number of Maine residents covered by individual health insurance policies has decreased to about 35,000 from 92,000 in 1992, according to the Bureau of Insurance.
Nowadays patients are accustomed to low out-of-pocket medical expenses, and big companies are expected to give their employees gold-plated health insurance policies.
Fortunately, some group health insurance policies also have special provisions that allow for continuation of health insurance for children with disabilities when they reach the maximum age for coverage as dependents.

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