Health Insurance

Need health insurance? Once upon a time, when people needed medical attention, they paid the doctor directly for his or her professional services. But times have changed. Modern medicine can work miracles our grandparents and great-grandparents never dreamed of, but at a staggering price for the health insurance.

Health insurance was initially seen as protection against catastrophic loss caused by accidents or serious medical conditions. But now health plans have become broader. Benefits are available for everyday medical expenses-not just the “big ticket” items. This shift has caused Americans to expect their insurance to pick up most of the tab at the doctor or hospital.

Nowadays, most Americans rely on a third party-either a private insurer, or a public governmental entity-to help them finance the cost of their medical needs.

The majority of Americans get their health insurance coverage through an employer or through a government program, but five percent of the population purchases private health coverage on an individual basis. Each state separately regulates how individual policies may be marketed and sold.

Today, health care costs are high, and getting higher. You buy health insurance for the same reason you buy other kinds of insurance, to protect yourself financially. With health insurance, you protect yourself and your family in case you need medical care that could be very expensive.