The Advancement Of Private Health Insurance Companies

Private health insurance companies stemmed from the publics need for financial assistance in cases of general medical emergencies

. The concept of health insurance is collectivism it collects each individuals small monetary contributions into a pool which can be readily used in case of a person/s medical need. There are also some health insurance companies who cover long term disabilities and nursing needs. Social security is a form of insurance provided by the government through taxes, which can be used to cover a citizen in a medical situation. Healthcare is a need that each individual needs to have to avoid fatality.

Private health insurance companies originated from the concept of Hugh Chamberlen in the late 1600s, but was never enacted until the 1900s. The first form of health insurance came in the nature of accident insurance, which are a lot similar to what we know of today. In the United States, the first accident insurance company was known as the Franklin Health Assurance Company of Massachusetts. The concept of covering sickness in insurance, other than just accidents or sudden disabilities, began in 1866, but was never successfully enacted until the year 1890. As the years progressed, employer-enacted health plans came to effect in the year 1911.

Private health insurance companies didnt start until the middle of the 20th century, when private hospitals began offering individual health plans to patients to help them finance expensive medications. These are the predecessors of what we now know to be HMOs or Health Maintenance Organizations, Blue Cross being one of its original founders. Health care is a big and sensitive issue all over the world, and especially in the United States, with the recent health care reforms from the current president Barack Obama but that is another topic altogether.

Health insurance responsibility and terms are clearly stated on the policy holders booklet, and is largely based on the premium he or she pays on a monthly basis not all services are covered, and there are certain limits to the insurance coverage. Still, with all these, one cant stress enough the importance of health plans to an individual and his or her familys health. There are also several types of insurance plans offered by health insurance companies; long term, short term, scheduled, etc., and their prices may vary as well.

There are a lot of top health insurance companies in the US today: Harvard Pilgrim Health Care, Tufts Associated Health Maintenance Organization, Capital Health Plan, Kaiser Foundation Health Plan, Allstate, and many others. One thing is for sure, though, with the economy as it is, private health insurance companies will surely continue to emerge in the coming years.

by: juliewise1964

POST COMMENT

Commercial Insurance Providers For Businesses Life Insurance Offers Satisfaction Tips To Get A Fair Home Insurance Policy What To Look For When Choosing A Health Insurance Provider How Much Moving Insurance Is Necessary? Do You Know The Largest Life Insurance Companies? Low Insurance Premiums And How To Benefit From Them Top 5 Life Insurance Myths Debunked Group Health Insurance Policies – Some of Its Attributes Things To Consider While Purchasing Van Insurance For Business Or Personal Needs Can A Low Credit Score Lead To Higher Car Insurance Rates? Home Insurance Plan Quotes - What To Consider In Your New Insurance Plan Why Commercial Truck Insurance Is So Important?