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The Curious Bag
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Medical insurance, also known as health insurance, usually is meant to denote the form of insurance responsible for paying the medical bills of the insured, but it often is used to denote the form of insurance covering disability needs.
Public or Private?
Medical insurance can be provided either by a government in which a welfare program is set up to pay the medical bills of its citizens, also known as socialized health care, or by private organizations known as insurance companies.
Premium
A premium is the amount of money paid, either in the form of a monthly bill or through taxes, that protects the insured from unexpected health costs.
Costs
The cost of an individual premium will depend either on one's income, in the case of socialized health care, or one's level of risk for incurring health-care needs, factoring in family history, behavioral habits and age.
Variance Among Countries
Some countries, such as the United States, are almost completely privatized in insurance matters, but other countries, such as Great Britain, are completely public. Others are like the Netherlands, which has a combination of both.
Criticisms
Some people claim privatized health-care systems are unreliable and too focused on profits, but others say public systems are inefficient and expensive.
Source:
Resource:
Travel Insure
Anthem
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