Health Insurance Or Medical Insurance

What is health insurance?Health insurance, or medical insurance, is an agreement between the insured and the insurance company. The insured will pay an amount of premium and in return the insurance company agrees to pay for the medical cost of the insured if he admitted to hospital due to accident or illness.This policy helps to pay off medical expenses; it is also used to cover disability or long-term nursing care, it helps to protect the insured from high expensive medical care costs.The policy lists the kinds of services of medical benefits such as examination, drugs, operation and treatment services. It also lists the kinds of services that are not covered by the insurance company; the insured will have to pay for any uncovered medical treatment.In practice, normally the applicant will receive a medical card. Anytime if he admits to the hospital, he just needs to produce the card, the hospital will provide him with treatment and bill the insurance company later. The card is renewable annually or every two to three years. The premium needs to pay annually or half yearly. If no premium receives the due date, the medical will be void.Individual and family health insuranceFamily health insurance is you, your spouse and your children are all included on the policy, and it is referred to as an individual health plan. Anyone who is self-employed also can purchase this policy.Group health insuranceThis is normally purchase for the employees by an employer, a company or organization. The premium of this type may be fully paid by the employer or partially paid by the employer and partially paid by the employee.Many people would rather get group than individual policy, because it is cheaper and offers more benefits, but for those who are self-employed or work in a small company may not have the opportunity to obtain the former type.