| Benefits of Health Insurance.... |
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jiten702
Full Member
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Location: India
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| Benefits of Health Insurance.... |
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If you are taking care of all your expenses on your own then it is a wise decision to buy an individual health policy. Ideally you should look for the following benefits that these health policies give like:-
- It provides coverage for your hospitalization and medical bills
- It reduces saving huge amount of financial losses, risk of financial breakdown in case of expensive medical and post-illness care.
- It induces a sense of financial security to the insured & his family members.
- It also provides a monthly benefit to help maintain financial stability while you recover from a disability.
- You can also avail tax benefits on the premium paid under section 80D of the Income Tax Act.
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Thu Oct 07, 2010 6:47 am |
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financegenie
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Location: Mumbai
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I do know that Health insurance is like other forms of insurance, is a form of collectivism by means of which people collectively pool their risk, in this case the risk of incurring medical expenses. The collective is usually publicly owned or else is organized on a non-profit basis for the members of the pool, though in some countries health insurance pools may also be managed by for-profit companies. It is sometimes used more broadly to include insurance covering disability or long-term nursing or custodial care needs.
Well your suggestion of getting benefits of health polices might help lots of people.thanks
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Sat Oct 09, 2010 8:04 am |
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Ohioquotes
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Location: Ohio
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Health insurance does not provide a monthly benefit. I wish it did.
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Sat Oct 16, 2010 12:34 am |
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Elena C.
Contributing Member
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Location: Chicago
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You gotta have it. You can't go without it.
The cost keeps going up. My health insurance policy premium has double in the last four years. And four years ago it doubled from the previous four years. What can you do? It's one of those expenses that's absolutely necessary.
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Sun Oct 17, 2010 7:46 am |
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wringle
Member
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| Benefits of Health Insurance.... |
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It is very important for us to know the meaning of health insurance. There are different types of products which offer a range of health covers which depend on the choice and need of individuals. The expenses which are incurred on hospitalization are covered by the policies of health insurance. The expenses connected with injuries and illnesses are reimbursed by the health insurer, not only this but the health insurer also offers a direct payment to hospitals which is a cashless benefit. The health plan covers the amount of health care costs which are specified in the documents and policy wordings.
Besides the basic advantage of protection also comes with many benefits like it comes with an attractive benefit of tax which is considered as an added incentive. The tax benefit which is provided for health insurance is authorized by income tax act of the country. One can get a deduction on the income tax that they have to pay to the government if they pay their premiums for medical insurance. When one has a medical insurance plan they also have an access to routine care and regular checkups to ensure good health. All these tests are very essential after the age of 35 as at this stage man becomes prone to a number of diseases due to lifestyle and changes in the body. When a person has a policy they have something to depend on so they are not scared of going in for adequate treatments if there is a need to do this.
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Thu Nov 11, 2010 5:48 am |
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sweetums
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Location: us
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Yeah I agree if you are not on any prescriptions then it is like car insurance it is there for a back up if you were to ever get hurt but hence the reason I am only covered by catastrophic.
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Sun Nov 14, 2010 2:09 am |
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roxferdmeccos
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Location: fsaf
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Health insurance is really good for people. These are It's benefits :
* Cover the risk of life
* Convenient and give us good services
* Good for family
* Cheaper
* Flexible plan
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Wed Jun 22, 2011 7:32 pm |
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danielcraigsuper
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Health insurance premiums can be expensive, especially if you accept to purchase them on your own. However, in the end, accepting health insurance is a most often less expensive than remaining uninsured.
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Sat Jun 25, 2011 10:49 pm |
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SweatyGirl
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quote:
Originally posted by Ohioquotes
Health insurance does not provide a monthly benefit. I wish it did.
me too 
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Fri Jul 01, 2011 5:52 pm |
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rozerleft
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Is usually the collective public, otherwise it is a non-profit organisation based on the members of the pool, although in some countries, health insurance pool may also be managed for-profit company. It is sometimes used more widely to include insurance covering disability or long-term care or care needs.
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Mon Aug 08, 2011 5:38 pm |
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jerryshudson
New Member
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Joined: 16 Aug 2011
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Benefits we get from health insurance are :
1 Eliminate lifetime limits and restrictive annual limits
2 Cover preventive services and immunizations without cost-sharing
3 Cover an enrollee’s dependent children
4 Offer tax credits to small businesses to purchase coverage.
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Tue Aug 16, 2011 6:18 pm |
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debedwards
Preferred Member
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Joined: 19 Aug 2011
Location: Connecticut
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Health insurance can also provide payments for prescription drugs and even dental care. The benefits of health insurance actually vary depending on who provided the insurance if it's a group health insurance or individual health plan.
elder care specialist | long term care insurance costs | life line screenings
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Fri Aug 19, 2011 1:27 pm |
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keshavmish
Full Member
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Location: india
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Health insurance provides compensation to the insurers when they unexpectedly face health problems and urgently need financial assistance. Health insurance covers most of the medical expenses that are required at the time of hospitalization, follow-up, diagnosis, consultation and different medical exams. Health insurance agencies may be publicly owned privately owned or may be owned by non-profit institutions but all these organizations provide insurance policies for individuals or groups. Health insurance may be a program sponsored by a company to the employees or even an individual may create an health insurance policy for him and his dependents. Many developed countries provide health insurance assistance to the public through their programs sponsored by the government such as United States Mediaid program. The insured should pay some expenses to get the coverage and benefits such as fee, deductibles, premium and some out-of-pocket expenses.
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Sat Aug 20, 2011 4:53 am |
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