We rely on insurances to help cover certain costs associated with different things such as health, or materialistic such as our car, home, etc.
One type of insurance that every person needs is medical insurance. Medical insurance is a type of insurance that covers the costs associated with health expenses such as doctors appointments, surgeries, etc.
Whenever we visit a clinic, hospital, laboratory for certain testings, and even pharmacies, we can show our insurance and get financial help from our insurer. The insurer can help you by directly making payment to the provider (hospital, clinic, lab, etc) or reimburse you after you’ve paid out of your own pocket. This all depends on the type of medical insurance you have.
Depending on the country, medical insurance can come in two types. If your country doesn’t have universal healthcare, then you’ll have to resolve to private insurance. Some countries do have universal healthcare, but those who don’t have insurance included in their employee benefits packages.
Source: South China Morning Post
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Types of Medical Insurance
In the U.S., there are two types of medical insurance, private and public. We will explain both in this article.
· Public Insurance
Public insurance in the U.S. works through premiums. You pay the premium and the public healthcare provider pays for your medical expenses. There are a couple of public medical insurance types in the U.S. such as Medicaid, Medicare, and others that are specifically designed for U.S. veterans, Indians, etc.
Public medical insurance can be acquired by anyone but works differently to private insurance.
· Private Insurance
Private insurance seems to be more effective in solving the medical insurance question in the U.S. According to various data from the CDC, almost 67% of all Americans are privately insured. There are a lot of private insurance companies that offer private insurance to Americans.
To find the most affordable private insurer with $0 premium plans, head over to https://www.medicareadvantageplans2020.org. This website will find you the most affordable private insurance based on your location by contacting private insurers who they’ve partnered with.
Source: Vox
When is Medical Insurance Important?
As we mentioned, medical insurance helps cover the costs associated with medical expenses. If we aren’t insured, then medical costs can really be hard to pay off.
Medical costs can sometimes be astronomical. If you aren’t insured, a broken leg will cost you $8,000! Having medical insurance will help you from having to pay such expected and high medical costs.
Medical insurance also protects you from preventive services such as getting a shot of vaccines or doing various testings. By being insured, you won’t pay a single dollar for preventive services.
How to Apply for Medical Insurance?
To apply for medical insurance, you need to contact the Health Insurance Marketplace. This can be done in four ways.
The first is to call the marketplace itself and talk with a person who will give you all the necessary details in regard to getting medically insured.
The second is to go there in person and talk to a counselor for a medical insurance plan.
The third is to send an email, in which you will explain what you need. Emails are usually returned in less than two weeks.
And the last, and more convenient, one is to apply online by visiting the Health Care Marketplace website.
