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Health Insurance

Health insurance is a type of coverage that will help you if you ever get sick or injured. Healthcare costs in the US are sky high and health insurance helps to cover those costs. Those who don’t have health insurance are often saddled with expensive bills that get hard to pay - even over a long period of time. If you don’t want to get stuck in the lurch in the event of a serious illness or injury, you will be smart and get it!

The History of Health Insurance

Health insurance started out as “accident insurance” in the 1800s. Companies started to offer it to railroad workers, a job that saw a lot of accidents. The first plans covering illness started in 1890. In the 1920s hospitals allowed patients to pre-pay for services, which led to the first HMOs. After World War II, more companies started to offer health insurance benefits to their employees. Private insurance remained out of reach for most unemployed people including the elderly and low income people until the development of Medicare and Medicaid in the 1960s. The Affordable Healthcare Act was a step closer to universal health coverage, and new developments are being made to healthcare legislation today. You will have to keep reading here to find out the latest developments.

Types of Health Insurance

There are 3 major types of health insurance plans. PPO allows you to go to any doctor you choose that takes your insurance. Some people like the flexibility that this offers. Other people prefer HMOs which allow you only to go their own doctors. Some companies like Kaiser in California have had a lot of success with this model. Another type of plan is known as a HDHP, or high deductible health plan. It’s only available to people under 30 and it’s a high deductible plan for healthy people who assume they won’t need to use their insurance much. Whichever choice you go with, make sure it’s the right one for you by doing your research beforehand.

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