Health insurance is a type of insurance coverage that covers the cost of an insured individual's medical and surgical expenses. Depending on the type of health insurance coverage, either the insured pays costs out-of-pocket and is then reimbursed, or the insurer makes payments directly to the provider.
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Mediclaim policy is a hospitalization
benefit that is offered by both public and private sector general
insurance companies in India. The mediclaim insurance policy takes care
of expenses following hospitalization/domiciliary hospitalization in
case of any of the following situations-
- In case of sudden illness or surgery
- In case of an accident
- In case of any surgery during the policy tenure
- Private health insurance - the CDC (Centers for Disease
Control and Prevention) says that the US health care system is heavily
reliant on private health insurance. 58% of Americans have some kind of
private health insurance coverage.
- Public (government) health insurance - for this type to be
called insurance, premiums need to be collected, even though the
coverage is provided by the state. Therefore, the National Health
Service (NHS) in the United Kingdom is not a type of health insurance -
even though it provides free medical services for its citizens, it does
not collect premiums - it is a type of universal health coverage.
Examples of public health insurance in the USA is Medicare, which is a
national federal social insurance program for people aged 65+ years as
well as disabled people, and Medicaid which is funded jointly by the
federal government and individual states (and run by individual states),
SCHIP which is aimed at children and families who cannot afford private
insurance, but to not qualify for Medicaid. Other public health
insurance programs in the USA include TRICARE, the Veterans Health
Administration, and the Indian Health Service.
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