Health Care

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What is Health Insurance?


Health insurance or health coverage is a kind of insurance that covers the medical and surgical expenses of an insured individual. However, the process highly depends on the type of health insurance coverage that an individual availed. Either the insured can pay the medical costs out of his or her pocket and is then recompensed, or the insurer makes the payments straight to the provider.


In terms of health insurance jargon, the “provider” is a doctor, health care practitioner, clinic, hospital, laboratory, or pharmacy. On the other hand, the “insured” is the holder of the health insurance policy.


Broad types of health insurance


Generally speaking, there are two types of health insurance:


Private health insurance


According to the Centers for Disease Control and Prevention (CDC), the US health care system is heavily reliant on private health insurance. Around 58% of America’s population is covered by private health insurances.


Public (Government) Health Insurance


In order for public health insurances to be viable, premiums need to be collected even if the coverage is provided by the state. The most common example of public health insurance in the USA is Medicare. It is a national federal social insurance program for people aged 65 and above. Another is Medicaid, which is funded together by the federal government and individual states. SCHIP, on the other hand, is aimed at children and families who cannot afford private insurances. Other public health insurance programs in the USA include the Veterans Health Administration, the Indian Health Service, and TRICARE.


How University Insurance Agency, LLC Can Help You


Life is full of surprises. Unfortunately, among these unexpected events is ill health. At University Insurance Agency, LLC, we fully understand how sickness can extensively affect you in terms of your finances. That is why we provide comprehensive individual and family health insurances.


We have the needed experience and vast knowledge to assist you in choosing the right health insurance. Our committed customer care professionals will research and compare the most competitive insurance plans in the market. Then, we will give you the information you need to make the best decision for you and your family. At University Insurance Agency, we have got everything covered!