Insurance is probably one of the most important things to have, whether its personal cover, car insurance, professional insurance or health insurance, it offers a cushion of support in the event that one picks up an unfortunate costly charge. In a world that is moving fast the cost of medical healthcare is increasing by the day such that it’s almost an obligation to have healthcare cover especially if you are at a risk of needing medical attention. Professionals like doctors, surgeons and nurses need constant medical cover given the daily risks they are exposed to, it’s a good thing there are insurance companies that offer doctor’s insurance to cover medical professionals.
What is health insurance?
Health insurance is a form of coverage that covers the cost of medical and surgical expenses. The insurance exists in may different types with the most common being the costs out-of-pocket coverage where the insured individual pays all their healthcare related costs and reimbursed at a later date or the coverage where the insurance provider covers the cost and the insurer makes payments to the provider.
In some countries health insurance is universal and covered by the government while in other places people have to pay for their own insurance or get cover as part of employment benefits.
When an individual is covered by health insurance they are protected against the risk of incurring very high medical expenses that could lend them in debt for a really long time. As such, insurance providers come up with financial structures like payable premiums so they always have liquid cash to pay for the medical costs as per coverage agreement. This has lead to the development of different cover policies with some offering better cover than other policies.
Why should you get health insurance?
While it’s true that no one really plans to get sick or need medical attention the fact is it can happen anytime. You can be involved in an accident that requires costly surgery or you could very well catch a nasty infection that requires costly medication. The truth is an emergency can occur at a time when you are financially squeezed and you need help covering the bill. At times you may have a healthy bank balance but the cost of health care is so high that having a health cover proves much cheaper than paying from your own pocket. Health insurance offers a neat cost effective cushion including many other benefits:
- Protection form unexpected and high health care costs
- Reduced health care costs as compared to paying from your own pocket
- Free preventive care like vaccines, screenings, and some check-ups
- Financial cover for serious accidents and sickness
- Disability cover in the event of an accident
Health care insurance for medical professionals
Medical professionals are the most exposed people when it comes to health care. Doctors, surgeons, nurses and medical students are exposed everyday to some of the most hazardous health risks like infections and injuries at the hospital. In fact, the risk are so high that some insurance providers do not offer cover for this group of individuals or if they do they make it difficult to get the coverage with high premiums and complicated claiming procedures.
For medical professionals, it’s important to get a doctor’s insurance that offers adequate cover. You may practice preventive care but there are some conditions that can develop at a later date, for example if you work with radioactive substances and or material it can be a while until the medical side effects kick in and they usually are very costly to treat.
When choosing health insurance its also important to find out if the policy includes post employment coverage as it can be expensive to sign up with a new insurance policy when you leave work or when you develop some conditions linked to your former employment role.
As you can see there are many reasons why one needs health insurance, including the health care providers themselves.
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