- Thesis statement
Health insurance plays a role of protection against the risks of incurring heavy medical expenses among individuals by making an estimate of the total risk of health system and health care expenses and developing a routine finance structure.
- Introduction
Health insurance is an insurance cover designed to work against the risks of incurring excessive medical expenses among its people. This is achieved by making a simple estimate on the overall risk health system and health care expenses of a specific group. An insurer then develops a routine financial structure, like payroll tax or a monthly premium. This is done to make sure that the money is secured and available to cater for the required health care concerns and benefits as outlined in the agreement of insurance.
These benefits are overseen and administered by a specific central organization. Such organizations include private businesses, government agencies and non-profit entities. The Health Insurance Association of America describes health insurance as the coverage that takes care of payments of benefits resulting from injury or sickness.
- Body I
Many people around the world always find it hard to comply with the health care requirements. They perceive it as a crucial financial decision that needs to be thought for quite some time before making the right conclusion. People are always stuck in between buying the insurance and simply paying the penalties involved and getting their chances. This is completely a misconception that people should get rid off and be realistic when it comes to matters of health care. Going without insurance is a tricky gamble and a deadly risk that people shouldn’t take. Health insurance cover may not seem important to people, but the truth is that there are emergency cases where a patient is admitted with very critical conditions. There have been cases where people are admitted for over one month or even two without improving. Such patients will never be discharged from the hospital until an improvement is realised. If the patient does not have a health insurance cover for such conditions, it is always a problem in raising the full amount at once to cater for the hospital bills.
A medical health insurance is very vital for those people who constantly go for check up in hospitals. This range may cover HIV infected patients, diabetic patients, obesity related cases and other groups of patients who require keen medical check up. Walking into a hospital each instance for example on a weekly or monthly basis may be too costly if one was to incur such charges every time they visited the hospital. This may also work for the general body checkups because we don’t need to get sick for us to visit a doctor.
- Body II
According to the Kaiser Family Foundation, people aged between twenty five to thirty four years had a small chance of incurring medical bills translating to five percent. This was estimated at twenty seven thousand US dollars in the year 2011. Keen evaluation reveals that there is a very heavy hospital bill catered for by a very small amount of population.
Creating the health insurance cover therefore makes it even because it is spread across the total population making it easy for those who constantly access medical conditions.
There is a general argument that at some instance, the amount of money incurred by purchasing the policy and paying the monthly premium is much costly as compared to settling medical bills directly. It clearly states that paying penalties and avoiding the health insurance cover may be cheaper and manageable to people who are in a better position to manage and avoid serious injuries and illness. This argument may be correct in its context but we need to consider that, in this world and nature, we cannot control everything. Some things are beyond us including injuries and illness.
- Conclusion
The health insurance policy gives us a choice of whether to purchase or pay the penalties. This therefore, should make everyone asses themselves and come up with a conclusion that is best for their health. In as much as purchasing a policy cover and paying the monthly premium may be expensive, it is crucial we all consider our health more important than the amount of money we spend. It is therefore important we make use of the policy failure of which might end up costing us even more, and most likely our own lives.
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Bibliography
Dickerson, O.D Health insurance. 3rd ed. Homewood, Ill.: R.D. Irwin, 1968.
Morrisey, Michael A Health insurance. Chicago, Ill.: Health Administration Press; 2008.
