Health Insurance: Why It Is Important

In case you don’t know, health insurance is a type of assurance that is given based on agreed terms in case the insured person falls sick or needs medical treatment. The insured life may have a chronic condition requiring medical care for years to come. Let’s know more about it.

Who will pay for the medical expenses?

This is one of the most common questions that people ask. If you have a health insurance, you can have the peace of mind that your health will be taken care of. Actually, it is a type of agreement or contract between you (policyholder) and the company providing health insurance. The purpose of the agreement or contract is to provide protection against costs. At times, the costs are so high that the sick person is unable to pay the bills. As a result, the person is unable to get the care he needs to recover.

While you will pay a monthly or annual premium, you should expect that the amount of premium you are going to pay w

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Health Insurance Solutions

Much has been said about the latest in the healthcare sector. Politicians’ continue to bicker and have no solid plan to replace the current plan. Certain Analysts believe if this Trump Administration plan passes the Senate their proposal will leave over 23 million people without coverage by the year 2026. The Affordable Care Act law is and was simply put in place to help the American people who were once unable to get any type of coverage, finally get the care he or she may need. Secondly, it has also helped more than enough individuals with pre-existing conditions get coverage as well. And thirdly there is the concern of affordability; this is for people who do not have enough money to pay for insurance on their own, the current law provides financial assistance for those eligible to receive money from the government.

The problem with today’s guidelines are the plans are based on: age, geographic location, the ability to pay, the rising cost of medical technology

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Grasp How Health Plans Work – Part II

Some insurers have figured out this new model and are masterminding new designed plans that include high deductibles and also higher co-insurances to the degree many carriers are profiting. There are some carriers who have not profited so well with entering this new territory; due to the fact of miscalculating the risk involved with insuring people with chronic health conditions. For carriers who analyzed and targeted their profit margins accurately they are faring well in this market.

In the beginning when the government first chose to have this mandate of insuring all people, their idea with the Bronze level plans would payout at a 60% co-insurance level. However, as time has progressed; carriers are designing plans to meet individuals budgets and to fit consumers lifestyle by having high deductible plans that appeals to those with higher incomes.

Ask yourself this question; why should I have such a high deductible and pay high premiums at the same time, in order to

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