just like car insurance or home insurance, you choose a plan and agree to pay a certain rate, or premium, each month. In return, your health insurer agrees to pay a portion of your covered medical costs. Payments by your health insurance are typically based on discounts they negotiate.

What are the types of health insurance?

Group medical cover

Is an insurance that provide health coverage to a defined group of people. This kind of coverage are usually offered by many employers to employees and sometimes their dependents with the same benefits.

Premium here is based on the aspects of the risk balanced over the entire group using general details such as age or gender on members of the group.

Individual Medical cover

This is an insurance coverage that you purchase for yourself or family basis and not through employer or associations. These policies are often obtained with the supervision of an insurance agent to help understand the plan choices and premium cost.

Family Medical cover

This is an insurance coverage designed for a spouse, children and other dependents. This cover provided in the form of group medical insurance through an employer or association or private health insurance paid separately.

In this cover age limit is important. Dependents under 18 years old can be included in this scheme, above that will be covered as a principle.