Why is Health insurance important?

1. Why is Health insurance important? For each and every individual in India, medical health insurance has changed into a necessity. It provides risk coverage against expenditure which is caused by unforeseen medical emergencies. Getting hurt or sick isn’t something a person wants to happen, but unexpected medical events do occur. Having a medical health insurance plan helps purchase some of those unexpected costs. It provides financial protection against ongoing large medical bills. Medical emergencies come unannounced. To get the best medical facilities without a financial burden you will need a health insurance. There are several means by which an individual can get health insurance. A person may pay for his or her own insurance. A person may receive health insurance as part of an employment package. A person may receive health insurance through local or Federal programs. 1.Health insurance covers essential health benefits critical to maintaining your health and treating illness and accidents 2.Insurance companies offer network services that cost far less that out-of- network physicians and hospitals, making healthcare more affordable for policyholders. 3.It is always advised to plan for healthcare early because you never really know when an emergency situation will strike. On a more technical side, your savings get time to multiply and grow. 4.The price of medical service is very steep and rising rapidly. Once, a person is admitted to a hospital, there are various costs, which a person has to pay. They involve not only doctor’s fee but also charges for various diagnostic tests, medically prescribed expensive drugs and sometimes even a re- examination fee. 5.It is important to note that cashless benefit is the most important advantage of purchasing health cover in the country. This facility helps tremendously when a policyholder falls under medical emergency which requires immediate medical attention. During the treatment whatever medical expense is incurred, it is borne by the insurance company. Thus, not only will you be able to avail the quality medical facility, but at reduced costs.

2. 6.An insurance company will often evaluate and review the profiles of patients which cost them more money. They will pinpoint on those who require frequent medical care. A person who is aging may require blood tests for diabetes, cholesterol or blood pressure checks. While providing health insurance plans to the aged, insurers try to protect their own interests by hiking the fees of the services in the form of premium. As older people are a higher cost to the insurance company, they pay a higher premium. Hence, you must take note of the fact that insurance premiums will increase as you grow older. It is recommended that you act early if you want to invest in a health insurance plan. The importance of having health insurance should not be dismissed or underestimated. Rising medical costs can wipe out a lifetime of savings with just one major medical event. Even probably the most routine of surgeries could cost tens-of-thousands of dollars, and more sophisticated procedures can simply come across the hundreds-of-thousands of dollars. Health insurance can help pay that skyrocketing cost and help save you from financial ruin. More On: http://www.stockmaster.in/