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 ?
According to data from Ipsos MORI, 12% of consumers had private medical insurance in 2007.
On the supply side, we examine the new products that have been launched in response to changing market conditions, while the demand for private medical insurance is investigated through in-depth and exclusive consumer research.
IIC will continue to develop the existing IL portfolio of international private medical insurance.
Rady Children's offers a number of programs for patients and their families, many of which are not reimbursed by private medical insurance, according to hospital officials.
Simplyhealth officially agreed with the details of of its new private medical insurance (PMI) offer for SMEs to replace its Preferential, Accessible and Sante schemes.
The Snapshot reports are focused on a number of key areas and markets within the financial services industry including Insurance, Non-Life/Life Insurance, Motor Insurance, Private Medical Insurance, Property Insurance, Consumer Borrowing, Credit Cards and Commercial Banking.
The European Commission has approved under EU State aid rules the state compensations to be granted through the new risk equalisation scheme (RES) for the provision of private medical insurance in Ireland for the period 2013 to 2015.
An additional LL500 million was granted by ministry for covering the expenses of hospitalization for patients who don t have NSSF or private medical insurance coverage.
The Tories have also pledged to take taxpayers money out of the NHS to subsidise those who already have private medical insurance.
Increasing policy count and premium on private medical insurance in recent years has often been attributed to increased corporate sales while private sales fell .
The next difference you will find is that it is relatively easy to sign up for the European Health Cash Plan in comparison to traditional private medical insurance - the application process is straightforward and simple with no medical required and guaranteed acceptance.