What is Health Iinsurance?
Health insurance is a form of protection that eases the financial burden people may experience as a result of illness or injury. You pay a premium, or fee, to the insurer. In return, the company pays most of your medical costs. Plans vary, but some of the things that they might cover are hospital stays, doctors’ visits, medications, and treatment of chronic illness.
Health insurance includes both medical expense insurance and disability income insurance.
- Medical expense insurance typically pays only the actual medical costs.
- Disability income insurance provides payments to make up for some of the income of a person who cannot work as a result of injury or illness.
Health insurance plans are available in different forms like group health insurance, individual health insurance, and critical illness cover.