MEDICAL INSURANCE

Medical Health insurance is a type of insurance in which people collectively pool their risk or individual to minimize their medical expenses. The group insurance may be organized on a non-profit basis for the members of the pool but in some countries health insurance of the group pools may also be managed by for-profit companies. Sometime it also covers disability or long-term nursing or custodial care expensive. Government-sponsored social insurance program, or from private insurance companies provide the health insurance. It can be purchased by group or by individual. In both cases you have to pay premiums and save you from sudden healthcare expenses. Social welfare programs funded by the government also provide you the same facility.

You have to pay a monthly premium or annual tax but it depends upon the kind of healthcare you have chosen and the benefit is provided by such as a government agency, private business, or not-for-profit unit.

Hugh the Elder Chamberlen from the Peter Chamberlen family 1694 was the first to introduce the concept of medical health insurance Accident insurance started in 19 century which was just like disability insurance of today. In 20th century the payment model start continued in some jurisdictions like California where all the laws regulating health insurance actually referred to disability insurance.

When the medical insurance concept was not started the patients have to pay all health care expensive from their own pockets known as the fee-for-service business model but in late 20th century disability insurance transfer into health insurance programs. Now private health insurance programs cover the cost of routine, preventive, and emergency health care procedures, and cost of drugs but it is not possible for ever.

During the first half of the 20th century the concept of hospital and medical expense policies were started and hospital started to give services to the people on a pre-paid basis finally leading to the development of Blue Cross organizations. The predecessors of today's Health Maintenance Organizations (HMOs) originated beginning in 1929, through the 1930s and on during World War II.