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Low Cost Health Insurance

Being without Health Insurance can be financially devastating for two reasons, unbearably high premium payments, and cost of medical treatment. That’s why health insurance quotes from many sources is undeniably necessary to find a reasonably priced plan that can eliminate tremendous costs due to premium price increases and advances in modern medicine.

Perhaps you know of a family that went bankrupt due to an unexpected illness. After all, modern diagnostic and treatment procedures are more expensive than ever before. Not everyone can afford the full cost of medical treatments that could easily add up to many thousands/hundreds of thousands of dollars. Getting low cost health insurance is an absolutely necessity.

The tremendous increase of health insurance prices in recent years has been attributed to various health-related factors such as the lack of regular exercise, unhealthy food choices, an exodus of doctors from poor and rural areas, alcohol consumption, cigarette smoking, drug addiction, obesity and the sedentary lifestyle of most modern individuals.

Health insurance was originated in 1694 by Hugh the Elder Chamberlen. Until the late 19th century health insurance was called disability insurance. It was called disability insurance because it was limited only to cover the medical costs of injuries that potentially lead to disability.

Today, health insurance pays the medical costs of the insured if afflicted due to disease or accident. Both incidences can be covered by the insured’s plan.

There are private organizations and government agencies that offer health insurance. Therefore, health insurance is classified into private sector or government-sponsored coverage.

A private sector health insurance – health insurance individuals – and/or group health insurance is purchased from a private health insurance company. Most often these are large corporations. Also, travel health insurance for individuals has become popular for those who like to see the world. These policies are further divided into two classifications as follows:

– Employment based group health insurance through one’s employer – “Direct purchase” individual health insurance from a private company

Private health insurance is controversial because the insurance company needs to remain solvent regardless of claims. Private health insurance carriers assume that the insured should remain in good health or be willing to pay a much higher price for coverage. They reserve the right to refuse claims and/or coverage to those individuals or groups they deem “high risk” or “unfit”.

Government health insurance is funded by a government entity. It may be funded on a federal, state, or local level. This health insurance includes Medicare, Medicaid, military health care plans, state plans, or the State Children’s Health Insurance Program (SCHIP).

Medicare is a government health insurance which pays health care costs for those 65 years old and above. Medicaid is also a government health insurance coverage which helps families with dependent children, those who are disabled, blind people and the others who have disabilities and need health insurance. These two health insurance coverage programs complicate the current United States health insurance crisis because they unintentionally determine the price of medical diagnostic and treatment procedures.

The State Children’s Health Insurance Program provides health insurance to children who have low-income parents that do not qualify for Medicaid.

Military health insurance is provided to active duty military personnel and their civilian dependents as well as veterans through the Department of Veterans Affairs (VA).

State Specific Health Plans are health insurance plans provided by some states for low- income constituents who cannot afford insurance.

Individuals who wish to buy health insurance are required to fill out a comprehensive medical history form that includes – history of smoking, drinking, height, weight, past diseases and hospitalizations. This medical history is necessary because individuals with pre-existing medical conditions may be excluded from coverage for that particular condition or may not be eligible to qualify for health insurance at all.

Additional low cost health insurance discounts may be given to applicants who are proven to be healthy, and who have no vices such as smoking, drinking alcohol regularly, and/or drug abuse.

The final analysis is – No one can afford to be without health insurance

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