Health Insurance

Health Insurance and Accessibility

No one knows about tomorrow, especially in the current Millenia. There has been a tremendous rise in deaths due to lifestyle diseases
and other medical complications. Most, if not all of these deaths could have been avoided if an individual or families had access to health insurance. Some types of ailments especially the terminal diseases such as lung and kidney failure can cause financial strain
since most families or persons cannot be able to foot the Medical bills.

The only way out to avoid such pain and problems is to have health insurance for you and your dependents. You also have to ensure that your
contracted insurance firm is timely and reliable when it comes to medical billing. Medical billing is the actual process of following up claims with the insurance firms after submitting a claim. This is in order to get the payment that was rendered by the health facility.

What is a Health Insurance Cover?

It refers to a type of coverage which is used to enfold the cost of an insured person’s medical and surgery expenses. Most of the insurance firms use the term “Provider” to refer to hospitals, pharmacies, laboratories or healthcare practitioners that attends to the sick person. There are several types of Health insurance Covers.

Types of Insurance Covers

Health Management organization covers.

These are the most affordable kind of plans. They are Mostly of a group of specialists generally working together.

Preferred Provider Organization.

These are health insurance plans sponsored by the employer.They give you the liberty to chose your hospitals and the kind of specialists
you wish to see. They are a bit Costly as compared to Health Management organization cover.

Exclusive Provider Organization.

They are almost similar to Preferred Provider Organization insurance cover but no liberty to chose your doctor or the kind of health
a facility that you prefer.

Point of service plan

It is a blend of EPO, HMO AND PPO. But it is generally less expensive.

Catastrophic Coverage.

This is only used under emergency circumstances. It has a general low premium

How Accessible are these insurance Covers?

Most of the insurance covers are not accessible to many individuals. This is fact can be attributed to the fact that most of the people are either not aware due to low sensitization or the cost of the premiums are quite costly and unmanageable to maintain. Also the kind value they get does not really correspond to their contribution, hence most of the people prefer to do without.

Characteristics of a good Health Insurance Cover.

It should have a positive outlook.

It can be purchased at an affordable price.

It has been customized and developed according to the health needs of the people.

· It can be renewed.

· It has the best services and Facilities.

· Has simple and easy issuance procedures.

· It should not have limits to the coverage provided.

· They should make the claim process to be much simpler.

Merits of Having a Health insurance Coverage

· Life-related diseases are the verge of increase and most common nowadays. Therefore its good to be on the safe side before it strikes you.

· It puts families and dependants on the safe side in case there is a sudden need to raise huge amounts of money during treatment.

· Most of the families have their wealth in the form of fixed assets which can prove to a tough job trying to liquidate during an emergency.

· Most types of illnesses and healthcare are becoming extremely expensive and burdensome.

Demerits of Having a Health insurance Coverage.

· Most of the health insurance Covers are very costly. Most individuals end up struggling to make payments. It can turn out to be burdensome to those people who have low income.

· People with the previous history of illness will have to wait for long periods of time before they start benefiting in the scheme.

In a nutshell, it can be deduced that even though insurance coverage can seem to be expensive depending on one’s scheme, it will be paramount as an individual and family to be under insurance especially under these unpredictable times. It will save A critical ailments such as cancer, stroke, and paralysis can leave you helpless. But all this can be a foregone problem if a person can be able to organize in advance and secure an insurance cover. It gives you the much-needed financial relief especially if they have simpler and faster medical billing processes.