Health Insurance

Health Insurance is a system intended to protect people against the risks of financial loss by transferring the risks to a large group who share the financial losses. The Insurer is the company offering protection through the sale of an insurance policy to an insured. The Insured is the person whose risk is transferred and shared.

Health insurance plans are designed to protect the insured against the costs of hospital and medical care or lost income arising from an illness or injury. It is sometimes called Accident or Sickness Insurance, Accident and Health Insurance, or Disability Insurance.

As medical care advances and the cost of treatments increase, health care costs also greatly increase. The purpose of health insurance is to help you pay for your care. It also helps to protect you and your family financially in the event of an unexpected serious illness or injury that could be very expensive.

Everyone needs health insurance as one cannot predict what the cost of medical bills will be in the coming years. If you have health insurance coverage, you will have peace of mind in knowing that you are protected from most of these costs.

You should not wait until you or a family member becomes seriously ill to try to purchase health insurance, as you may be denied coverage or the premiums will be so outrageous that you cannot possibly afford them.

There is a link between having health insurance and getting better health care. Those with health insurance coverage are more likely to get routine and preventive care. Research shows that people with health insurance are more likely to have a regular doctor and receive the care they require when they need it.