One Medical Insurance

medical insurance is important to every individual because one never knows when he will need it. Due to the advances in modern medicine, medical diagnostic and treatment procedures are now a lot more expensive than before. Not everyone can afford the full cost of medical treatment which could easily add up to thousands of dollars.

The tremendous increase of medical insurance prices in recent years has been attributed to various health-related factors such as lack of regular exercise, unhealthy food choices, exodus of doctors away from poor areas and rural areas, alcohol consumption, cigarette smoking, the popularity of drug addiction, increased body fat leading to obesity and the sedentary life led by most individuals nowadays.

medical insurance coverage originated in 1694 by Hugh the Elder Chamberlen, who first thought of the concept of medical insurance. In the late 19th century, medical insurance was called disability insurance because medical insurance was limited only to medical costs of such injuries that would potentially lead to disability.

medical insurance is a program in which the insurer pays the medical costs of the insured should the insured become afflicted with sickness due to diseases or accidents covered by the insured’s plan. There are private organizations and government agencies who offer medical insurance.

medical insurance is classified into private or non-government coverage or government-sponsored. A private medical insurance is purchased from a private medical insurance company and it is further classified into employment-based medical insurance, which if offered through one’s employment. “Direct-purchase” is plan where the individual purchases the medical insurance himself from a private company.

Private medical insurance is controversial because the insurance company needs to remain solvent while the insured should remain in good health.

When the medical insurance includes plans funded by the government, it is called government medical insurance and it may be on a federal, state, or local level. This medical insurance includes medicare, medicaid, military health care plans, state plans, and the State Children’s medical insurance Program (SCHIP).

Medicare is a government medical insurance which pays health care costs for those 65 years old and above. Medicaid is a government medical insurance coverage which helps families with dependent children, those who are disabled, blind people and the others who have disabilities and need medical insurance. These two medical insurance coverage programs complicate the current United States medical insurance crisis because they unintentionally determine the price of medical diagnostic and treatment procedures.

The State Children’s medical insurance Program provide medical insurance to children who are part of low-income parents not qualified for Medicaid while military health care is medical insurance provided by civilians and the Department of Veterans Affairs (VA). medical insurance provided by some states for low-income constituents who have no insurance is called state-specific plan.

Individuals who wish to buy medical insurance should first fill out a comprehensive medical history form that includes the history of smoking, the person’s weight, the individual’s past diseases and hospitalizations. This is used because individuals with pre-existing medical conditions are not eligible to that medical insurance. Discounts may be given to applicants who are proven to be healthy, and who have no vices like smoking and drinking alcohol regularly.

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I hope you enjoyed the post. As Always, comments are welcome and encouraged.

To Our Success,

Mark