According to a recent report by the World Health Organization (WHO), there were approximately 7,500,000 new cases of the cancer in 2018. Out of the 7.5 million new cases of cancer, about 4 million deaths were reported for the year 2018. Other than cancer, there are around 2 million deaths a year due to cardiovascular diseases, which includes stroke, coronary heart disease, and heart failure. Following this increasing trend of life-threatening diseases, it is only natural for people to look for some healthcare protection. According to a article from the US Dept of Health and Human Services, nearly 1
Medical insurance is an important part of our health and well being. It provides a safety net for cases like emergencies, hospitalization, and even specialist treatment. But do you know when you need medical insurance? This blog will walk you through what you need to know before buying it.
What is Medical Insurance?
Depending on the geographical region and the country, medical insurance is a form of insurance that reimburses the policyholder for medical expenses. Most medical insurance is paid for by a combination of the insured person and a group of people, such as an employer or government, though in some countries it is paid for entirely by the government. Different types of health insurance policy. Most policies cover the cost of medical treatment and hospitalization (sometimes called hospital insurance), whereas others, called supplemental policies, will pay you a specific amount of money for medical expenses that the health plan doesn’t cover.
Is Medical Insurance worth getting?
Medical insurance is not a waste of money if you are employed or healthy. It makes you feel secure about any incident of serious illness or accident. It also saves you a lot of money and you could save it in a separate account to use in case of an emergency. But if you are semi-retired like me, it is a waste of money.
If you are in bad health, you would need medical insurance to cover the cost of expensive medical bills. However, if you are in good health, medical insurance is really not worth the money. The reason is simple. In the US, we have the advantage of a competitive market. If you have to pay a deductible, expect that you have to pay more than $1,000. In addition, you have the option to refuse any service not covered by your insurance. This includes the most expensive surgery, if they decide not to cover it. In some European countries, you have no choice and you are forced to use the services of a government-certified hospital.
How to get Medical Insurance?
One of the biggest challenges for unemployed people is finding affordable health insurance. You can’t get Medicare until you turn 65, and Medicaid is only for low-income people . So what can you do? Here’s some information to help you get insured and stay healthy.
In many cases, the healthcare providers require you to purchase a medical insurance policy that meets the criteria of their plan, prior for you to get treatment. Some of the policies that you can purchase on the market include:
How to use Medical Insurance?
For example, if you are hospitalized for an overnight stay, your medical insurance covers the basic costs of a hospital room and the standard amount of care from your doctor. However, if you want to upgrade from a standard room to a luxurious room, you will pay the difference. If you want extra-special care and pampering, you can probably pay for that on your own.
Medical insurance helps in various ways. It helps you to get quality health care in case you fall sick. It helps in providing cashless service in hospitals. It helps you in getting compensation in case of any accident. One can also use medical insurance to get rid of dependency on loans and personal debts. It is important to choose the best medical insurance and maintain the same.
We hope you enjoyed our blog about how medical insurance can be beneficial to you. In today’s world, medical insurance is not a luxury, but a necessity. If you do not have medical insurance, your health can deteriorate quickly, and you could find yourself in a very bad place. So what are you waiting for? It is time to contact your insurance company and see what coverage they have to offer you!