Importance Of Health Insurance
Introduction Human beings are exposed to various kind of risks in their daily lives and activities. Earning capacity may be ended abruptly due to death, old age, sickness or accident that may result in disability. Therefore, we need an insurance to solve this problem. Insurance can be defined as an economic institution based on the principal of mutuality, form for a purpose of establishing a common fund, the need for which arise from chance occurrences of nature, whose probability can be estimated. When you buy an insurance policy, you are transferring the risk of a potential financial loss to the insurance company in exchange for a fee. The insurance company, in return, promises to provide you with financial assistance if you face an unexpected loss. The Importance of Health Insurance …show more content…
Having health coverage is associated with better health-related outcomes. For example, it helps people to get timely medical care and improves their lives and health. There will be less unexpected health and medical bills when you enter hospital. Next, it makes quality treatment affordable. Health insurance also involve cashless services and tax benefits. Insurance seems expensive, but not having it can cost much more during the attack of some surprising events such as cancer or
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698 Words | 3 PagesIn order to insure people, not just by coverage when they need it most, but for all health care issues. People must obtain coverage or pay per-month fee which can be hard for some low income families. Coverage can only be obtained during annual open enrollment periods not just any day of the year. One can owe the fee due to forgetting to pay premiums, and then not be able to get coverage until next open enrollment.
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435 Words | 2 PagesHealthcare costs in the United States are constantly rising straining the budgets of families and employers. As a result of the rising healthcare costs, insurance premium rates have been also increased. The premiums rates are increasing more rapidly than income which is part of the reason why Americans aren’t able to have access to affordable health insurance. Although the Affordable Care Act has been passed, there are many people still uninsured. The purpose of the Affordable Care Act was to improve the quality of care, provide more Americans with access to affordable insurance, and minimize healthcare spending in the United States.
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741 Words | 3 PagesFurthermore, with the indication of health coverage, necessary care and improved population health
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1135 Words | 5 PagesThe cause of the Revolutionary War was to end tyranny in Great Britain, because the American Colonies were being taxed without representation. The thought of having more taxes like that is crazy to our society now. There has been a common argument about the United State’s healthcare crisis. People in America are starting to ask questions such as “Why am I paying so much money for healthcare and getting close to nothing back?” The truth is America pays the most money on healthcare but does in fact get nearly nothing back from their healthcare agencies.
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727 Words | 3 Pages46.8 million Americans were reported as uninsured in 2013, which equivocates to one sixth of the population. Those without insurance have revealed that they risk “more problems getting care, are diagnosed at later disease stages, and get less therapeutic care” (National Health Care Disparities Report) and those insured risk losing their insurance. Inadequately covered citizens are often working-class individuals who simply cannot receive insurance due to uncontrollable inconveniences and therefore jeopardize having medical coverage. In these instances, Americans have a chance of being diagnosed with diseases that they had no opportunity to prevent or could not diagnose them at an early stage of the illness. Patients have suffered unnecessarily due to lack of health care, and “18,000 Americans die every year because they don't have health insurance” (PNHP).
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955 Words | 4 PagesInsurance companies are making a huge amount of profit. The profit that these
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889 Words | 4 PagesIn the presence of a free health service helps to boost the economy nation which is a lots of people will raise the standard of living by increase the economic productivity. People will contribute in the economy sector very well if they are healthy. From the source that I get, according to House research Department Universal Health Coverage an Economist Perspective 2007 the author says, health care costs may prevent some individuals from working or seeking higher earnings. Working harder to increase earnings may result in losing their subsidized coverage or having to pay more in premiums. So, the free healthcare for everyone will raise the standard which is can lead more to economic
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928 Words | 4 PagesHealth insurance is one of the main insurances ones can have in life. Without reliable health insurance any small treatment can wipe out a person financially. " health insurance is a type of insurance coverage that pays for medical and surgical expenses that are incurred by the insured" as defined by Investopedia, 2015. The term ‘Health insurance’ was firstly discovered in the United States during the civil war.
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