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What is health insurance?

Health insurance is what covers an individual’s medical expenses which can include illness, injuries, surgery due to accidents, general health problems which may happen at any time. It depends on the type of health insurance coverage on whether a person pays costs that are out of pocket; then reimbursed or if the insurance agency would make a payment directly to the provider.

A provider can be a clinic, doctor, hospital, laboratory, pharmacy, or health care practitioner. The person who is insured is then the owner of the health insurance policy and who has the health insurance coverage.

Countries like the USA do not have universal health care coverage and health insurance can commonly be part of an employer benefit package which is considered to be an employment perk.

Typically, health insurance is something an individual would select and then pay for on their own. This is called “individual health insurance.”

It is important to have health insurance because accidents and health problem may happen any time and medical expenses are very high which can cause bankruptcy. This is to help safeguard a person’s way of life and a family’s physical and financial well-being.

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