Health Insurance Industry

The term insurance is not new. Insurance is dated back to Chinese and Babylon trader in the era around 1750 BC. Insurance was initiated to cover the risk of financial loss. Initially, insurance was somewhat part of the investment.These days it is separate from the investment. Moreover, insurance now covers much more than financial loss. It includes stock insurance, health insurance, worker`s compensation insurance, vehicle insurance.

What is Health Insurance Industry?

According to health insurance association of America, health insurance is “Coverage that provides for the payment of benefits as a result of sickness or injury.” This insurance pays for the expense of death, medical bill, disability. With the passage of time companies started up showing interest in health insurance. People feel like saving for health issues is effective. This interest gave rise to health insurance industry. The strength of health insurance industry is on mutual benefits. The importance of health insurance can be seen through the fact that more than 1300 companies are serving to 200 million American.


Health Insurance coverage area:

Health insurance is related to health issues we all know but sometimes geographical area of health issue occurring matters too. Such health insurance where location doesn’t matter is defined as “anywhere in the world.” Generally, health insurance is like “anywhere in the world.” Health insurance of a student or employee is more specific. Sometimes health insurance covers only accident occurs during the study or working period.

Disease Covered by Health Insurance:

To be clear, not all diseases are covered by health insurance. Most health insurance covers emergency situations. This includes accidents, emergency surgery or hospitalization. To be more specific, these health insurance covers cases in which there is do or die situation. On the other hand, health insurance doesn’t cover chronic disease like cancer or diabetes. If such chronic diseases are covered, then this is a limitation of cost. Cost exceeding prescribe one will be handled by the person himself. Cosmetic surgery is also not covered by health insurance.

What is Provided by Health Insurance?

Health insurance usually covers Outdoor patient. The health insurance usually covers the mother`s health before and after the child birth. It also considers and pays for child`s health before and after he or she has born. Payment of medicine or another tool, i.e., injection is also included in health insurance. The cost of items requires for surgery. People usually think that health insurance is all about physical health but not it is also for mental health, its treatment and psychotherapy. Pediatric services and cost of lab test is also part of health insurance.


Last but not least, though Health insurance industry to cover and provide relief to our health but remember everything can’t reverse.We all believe that it is better to take care of our health by adopting healthy lifestyle.Somethings are even not covered by health insurance, e.g. health insurance will not pay cost of food helpful for recovery.  Some companies or educational institutes provides regular health insurance, but they have strict term and condition accosted with these.