Definition of health insurance
We talk about health insurance all day, but what is health insurance?
Health insurance is a form of insurance to pay for medical expenses, including those covering disability or long-term nursing or custodial care needs. Many private companies or government sponsored social insurance programs provide health insurance. Companies and individuals pay premiums or taxes for their insurance to protect themselves from unexpected healthcare expenses.
What is the difference between health insurance and health plan
Generally, they are the same. While HMOs use "health plan", most insurance companies tend to use the term "health insurance". But health insurance has a broader meaning of subscription-based medical care arrangement offered through HMOs, preferred provider organizations, or point of service plans.
Health insurance varies according to different countries. When somebody says health insurance, he could mean different from your meaning. If you are moving to another country, consult the local insurance department first.
Related:
Health cash plans generally provide money for the annual cost of physical examinations, routine eye screening, dental costs and prescription costs. Most health cash also includes complementary and alternative therapies, and often cover children for free if one or both parents are enrolled in the plan.
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