Medical insurance is an insurance that covers only a portion or an all of the cost of a patient incurring medical expenditures, spreading the expense among many people. It is similar to health insurance but it does not cover dental and hospital costs. It is mostly available to cover the costs incurred due to emergency and acute illnesses like diabetes, epilepsy, high blood pressure, etc.
Medical insurance companies provide different plans based on the type of illness and the extent of the ailment. The most common medical insurance plans are hospital insurance, long term medical insurance, etc. Long term medical insurance covers the period of stay in the hospital and also the long term treatment like surgeries and medical operations for a period of five years.
The different types of insurance are also determined by the category of insured people. For example, if a patient has acquired a life insurance policy with the medical facility coverage in his plan, it will be deducted from his monthly premium. If you are an insured individual and you have not availed the insurance coverage then you will get the same amount as premium from the insurance company.
There are many medical insurance plans which are offered by private companies. The premiums charged for this insurance vary according to the amount of coverage provided. In general, the cheaper the coverage, the higher will be the rate of premium.
Many insurance companies provide the services of a medical assistant to their insured individuals. The medical assistants are employed to assist the patients with their medical queries and also prepare the documents required for their claims. They act as a liaison between the patients and their doctors.
Most of the medical insurance plans to provide medical assistance for a period ranging from a few months to a year and some even extend the same period. This is a great help to those people who are unable to bear the burden of expenses incurred because of their medical ailments.
Medical insurance also helps the patients in paying the cost of medicines prescribed by their doctors. The prescribed medications are usually very expensive, so this assistance helps them meet the cost of the medicines without having to bear heavy medical bills. This is especially useful for those people who have spent huge sums of money on the prescription drugs and medicines.
Some medical insurance policies offer coverage for hospitalization, while others provide coverage for surgery. for people with chronic illnesses. The rates of premium differ according to the kind of insurance offered and also according to the duration of the insurance plan.
Before purchasing any kind of medical insurance, it is highly advisable to do a lot of research and check the details regarding the coverage offered by the company you are considering. You can also make comparisons among the plans offered by . . . . . . different insurance companies.