Health insurance is a crucial component of risk management. What is termed medical insurance can be divided into two broad categories. They are hospital and surgical (H&S) as well as hospital benefits.
H & S policies cover your expenses for surgery, X-rays as well as other fees. Hospital benefits guarantee to pay an amount of money for each day you stay in hospital, up to a maximum number of days.
Group insurance is typically cheaper becauses of the lower administrative costs involved in dealing with big groups of people. Most major corporations provide this benefit to some extent though the new employee should check with the human resources department. In this kind of insurance, the employee does not have an option as to what kind of coverage he or she is entitled to. The kind of services, doctor referred to and the class of ward are often stipulated by the company. Even though this may sound comprehensive to you, there are some scenarios that can throw your healthcare plans into the wind. They include:
H & S policies cover your expenses for surgery, X-rays as well as other fees. Hospital benefits guarantee to pay an amount of money for each day you stay in hospital, up to a maximum number of days.
Group insurance is typically cheaper becauses of the lower administrative costs involved in dealing with big groups of people. Most major corporations provide this benefit to some extent though the new employee should check with the human resources department. In this kind of insurance, the employee does not have an option as to what kind of coverage he or she is entitled to. The kind of services, doctor referred to and the class of ward are often stipulated by the company. Even though this may sound comprehensive to you, there are some scenarios that can throw your healthcare plans into the wind. They include:
- medical options when unemployed
- what happens when you retire?
- because the coverage extends only up to a certain age, what happens after that?
