Health insurance provides compensation to insurers when they face unexpected health problems and need emergency care. Health insurance covers most of the medical expenses required during admission, follow-up, diagnosis, consultation and various medical tests. Health insurance organizations are the sole owners of the community or the owners of non-profit organizations but all of these organizations offer insurance policies for individuals or groups. Health insurance can be a company-sponsored scheme for employees or even a person who can formulate a health insurance policy for himself or herself and his dependents.
The concept of health insurance was developed by Hugh the Elder Chamberlin in 1694 because of the frequency of accidents. He noted how people become physically disabled as a result of the dangers they face. Initially health insurance was a claim that was paid in the event of accidents and medical treatment was required. Health insurance was formerly known as accident insurance. Other companies such as the Franklin Health Assurance Company worked at the time to provide claims to insurers on train or road accidents or steamboat accidents. Gradually, health insurance companies introduced policies that included patient patient costs, follow-up, diagnoses, and other medical examinations. In 1920’2 many insurance companies started operating.
There are many ideas for health insurance that one should be aware of before making an insurance policy. Everyone knows that health insurance is an agreement between insurance and insurance. The insurance policies developed can be long-term or temporary.
The guaranteed person must pay a certain amount of money in the future, which may be monthly, quarterly or annually to receive future benefits known as ‘premium’. The insurer must also pay a certain form in his or her own pocket to the extent that he or she goes to the clinic, is examined, treated or diagnosed before receiving the benefits of his or her ‘known’ policy ‘. The amount due as deducted is determined by the company at the time of signing the contract. The insurer must pay a certain amount each time following a clinic known as a ‘co payment’ before obtaining insurance benefits. To treat insurance dependents who pay a certain amount of money known as ‘capitation’. Some companies offer a bill to hospitals that will pay a certain amount as compensation to insurers so hospitals should treat the patient based on the payment made by the insurance company known as ‘pre-authorization’.
Insurance plans may be combined or planned. Comprehensive programs have a fixed amount of hospital fees after a patient has paid a deduction. Complete programs are paid for in bulk. Planned plans are programs that are paid by insurance companies to insurers to meet the general costs associated with hospital care such as doctor’s fees etc.
There are basically two types of health insurance. One of them is a service fee and the other is a managed service. The two policies are different from each other and are similar to each other. Under the ‘Service for Fee’ program, the patient visits a doctor for a check-up or other routine follow-up and pays the clinic fee. The medical aid organization can also include the fees to be paid for providing the service to the patient. Under Regulated Health Care there are only three types of plans HMO, PPO, POS. Many plans are available in three types of plans. These plans may be complete or scheduled.
Under the HMO program the insurer has a wide selection to choose his or her doctor or medical organization. In most HMO programs the insured person has to pay a certain amount of money before getting the service from the medical professionals for each visit known as a ‘co-payment’. Most costs are incurred by the patient before receiving coverage and the patient must also pay for a lab test. Under the PPO plan the doctor is not scheduled, the patient signs a contract with the hospital and the hospitals charge a small fee to the insurance providers. Certain factors should be considered before choosing a PPO network such as doctors working under the PPO, hospitals that have introduced the PPO program, etc. Under the POS program a physician is selected from a network of covered service providers under the POS program. Your doctor is referred by an insurance company and you should only get services from their company.