Health insurance, a system for financing medical expenses through contributions or taxes paid into an investment fund to pay for all or part of the insurance or legally defined healthcare. The key elements common to most health insurance schemes are the advance payment of insurance premiums or taxes, the pooling of resources and the right to benefits based on contributions or benefits. occupation.
Health insurance may cover limited or full medical services and may provide for full or partial reimbursement of the costs of specific services. Benefits may be entitled to certain medical services or reimbursement of certain medical expenses of the insured. Some types of Health insurance may also include income benefits for working time lost due to sickness (ie invalidity leave) or parental leave.
A health insurance scheme organized and managed by an insurance company or other private agency and specified in a contract is known as private or voluntary insurance. Private health insurance is usually funded in groups, but most plans also provide for individual policies. Private group plans are usually funded by groups of employees whose payments can be supported by the employer by allocating money to a special fund. Hospital insurance is the most common form of private health insurance; the second type is the main protection of medical costs, which protects high medical costs but avoids the financial and administrative burden of insuring low costs.
All schemes that are funded by statutory contributions or fees and whose provisions are defined by their legal status are known as government insurance or social security. Such a sickness insurance scheme dates back to 1883, when the German government initiated a plan based on contributions from employers and employees in certain sectors. In the United States, Medicare and Medicaid – health insurance for the elderly and the poor, respectively – are government insurance programs. The distinction between public and private programs is not always clear, as some governments support private insurance programs.
The health programs of the government (sometimes described in the United States as “socialized medicine”) are quite different. owned by the government. The UK National Health Service and the Veterans Health Agency program administered by the US Department of Veterans are examples of such systems.
In the United States, health care facilities (HMOs) became popular at the end of the 20th century as a way to control medical costs for medical services and prescription drugs through pre-agreed fees. An alternative to HMOs is the Preferred Provider Organization (PPO), also known as the participating provider option, which offers features of traditional payment insurance plans, such as patient capability. choose your own healthcare providers, but also follow WMO’s cheaper strategies. For example, PPO registrants can consult a doctor at any time without a referral from a primary care physician; however, if the insured uses one of the insurance company’s preferred providers, the company will usually pay a higher percentage of the costs. And in HMOs and PPOs, the insured person is usually responsible for a portion of the cost of medical services, with a lump sum (paid by the insured during an office visit) being one of the most common costs.
Casualty insurance
Casualty insurance, provisions for the loss of persons and property covering both legal and accidental diseases. The main classes of victim insurance cover liability, theft, aviation, compensation of employees, credit and property rights.
Casualty insurance contracts may cover liability arising out of the use of a vehicle, the activities of a company, professional negligence (misconduct insurance) or possession of property. The Insurer agrees to pay on behalf of the Insured all amounts that the Insured must pay. The insurer also agrees to the legal protection of the insured.
Theft insurance contracts cover losses due to theft, robbery and other thefts. Employee compensation insurance financed by employee benefits compensates employees for work-related injuries; benefits may include medical benefits, temporary disability benefits, permanent disability benefits and, in an increasing number of countries, retraining benefits.
Many forms of credit insurance cover the risk of credit risk due to insolvency, death and disability; the risk of losing savings due to bank failure; the risk of losing the export credit for commercial or political reasons. Property insurance insures the buyer of real estate against the disappearance of deficiencies in the ownership of the purchased property.
Friendly society
Friendly societies were born in the 17th and 18th centuries, and more numerous in the 19th century.
Friendly society began with the burial associations of artisans in ancient Greece and Rome. In the Middle Ages, guilds in Europe and England extended the idea of mutual assistance to other conditions of anxiety, such as illness. Friendly societies have taken a step forward in trying to define the extent of the risk it intended to pose and how many members should respond to that risk. The rhymes of friendly societies include trade unions, fraternal subscriptions (such as the International Order of Strange Companions), and life insurance companies. Some insurance companies in the UK and other Commonwealth countries still call themselves friendly companies.