Do You Need Low Income Medical Insurance?

What is low income medical insurance?

Medical insurance policy was first introduced in Germany by OTTO Von Bismarck in the Year 1883 – 84. In Britain, the new national Medical health insurance policy which was brought into effect in the year 1948, provided the complete rules and regulations about health insurance the main motive behind the who health in-thy always. The low income health insurance works just like any other insurance. Any one wishing to insure his health has to make a contract with insurance.

What are the benefits of medical insurance?

Today’s health care costs are high and always getting higher as the days goes by the reason why most people buy other kind of insurance is to protect themselves financially, also having a low income medical insurance protects you yourself and your family in case you need medical care that could any way be very expensive since you can’t predict what your medical bills will be like. Sometimes your medical cost may be low. But if you become ill, your bills may become high so if you have an insurance, most of your bills will be covered their own expense. Types of low income medical insurance

The two major types of medical insurance includes: Private and group insurance. Many among the private Health insurance companies don’t provide the wide coverage which the group insurance offers. The group insurance is where employers provide health plans in order to assist their employee in obtaining medical cover at a better and cheaper rate.

The employer may choose to bear all the cost or carry part of it if he wishes but if an employee should leave the enterprise, then He lose his group medical health insurance automatically.

Article Source: http://EzineArticles.com/?expert=Kingsley_Duru

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