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The Curious Bag
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A health insurance plan is an agreement with a company, the government or a nonprofit agency that approved medical expenses will be paid for by the insurer on behalf of the insured.
Background
With continued advances in medicine, the cost of health care in the United States has risen steadily and continues to rise.
Purpose
The purpose of health insurance is to help you pay for the cost of medical care. Insurance exists particularly to protect against the high cost of emergency and serious illness and injury.
Medical Debt
According to a 2007 study published in the American Journal of Medicine, medical problems contributed to at least 62.1 percent of all bankruptcies in the five states studied, up almost 50 percent from 46.2 percent found in the 2001 study.
Mortality Study
A study conducted by Harvard researchers and published in the December 2009 American Journal of Public Health estimated that nearly 45,000 annual deaths are associated with a lack of health insurance.
Considerations
A variety of health insurance options are available. The government offers Medicare, Medicaid and the State Children's Health Insurance Program, if you qualify. Many people receive health insurance through their employer, while others purchase insurance individually from an insurance company.
Source:
Questions and Answers About Health Insurance
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