Does health insurance make life happier?? Health is a state of complete physical, mental and social well-being and not merely the absence of disease or infirmity. Health insurance coverage can provide “peace of mind,” as it removes the risks of catastrophic healthcare expenses. Second, health insurance coverage can reduce the costs of unmet medical care, thereby improving health. Third, subsidized health insurance coverage can generate income effects.
Health insurance is a type of insurance coverage that typically pays for medical, surgical, prescription drug and sometimes dental expenses incurred by the insured. Health insurance can reimburse the insured for expenses incurred from illness or injury, or pay the care provider directly. It is often included in employer benefit packages as a means of enticing quality employees, with premiums partially covered by the employer but often also deducted from employee paychecks.
Overall view of health insurance is that it makes human insecurities more less and become humans life easier.
Why Health Insurance Is Important?
Health is the most valuable gift from the nature to the mankind. But, this precious gift from the nature is in jeopardy owing to the technological advancements, climatic and man-made catastrophes, and the ever-increasing financial expenses to cover the basic needs. To
protect your health against all these odds, you need health insurance. In today’s scenario, insurance is no more an extra expense or a luxury expense, it is a need, which needs to be meet to secure your future life. Health insurance gives you a coverage against all possible risks that includes hospital/surgical and miscellaneous expenses. Further, In-hospital consultation expense coverage. From maternity coverage to the child health insurance added with the family comprehensive coverage plan. Health insurance cater all your needs from all possible angle so that you can enjoy care free future with your family without any tension of financial support or something else.
Health insurance is too much beneficial for human beings. Every family feel secured because of health insurance. Health insurance reduce risks from life.
Difference between medical insurance and health insurance
Medical insurance will provide you coverage only for hospitalization, pre-specified ailments and accidents that too for a pre-specified amount while health insurance will provide you with comprehensive coverage against hospitalization expenses, pre-hospitalization and post-hospitalization expenses and ambulance.
Health insurance is more effective insurance instead of medical insurance. In health insurance companies provided transportation facility.
Key Benefits Of Having Health Insurance
- Hospitalization Expenses. …
- Pre and Post Hospitalization Costs. …
- Cost for Day-Care Procedures. …
- Refill Sum Insured Amount. …
- Cover your Daily Expenses with Hospital Cash Benefit. …
- Get Your Transportation Costs Reimbursed with Ambulance Cover.
There are many benefits of taking out Health Insurance. You can avoid paying heavy medical costs, long waiting list times and get treated for your illness a lot quicker at your convenience from the leading hospitals. You will also be able to select your own preferred hospital and consultant and be able to recover in your own private room (if required) without paying the heavy unexpected fees from your own pocket.
You will be given the opportunity to select an individual, couple or family Health Insurance cover. In general, the benefits that you will receive from your Health Insurance plan will depend upon the level of cover that you have selected. Another advantage of having your own Health Insurance cover is that faster and quicker appointments can easily be arranged from a large number of approved Network of medical centers and hospitals in your city. Health insurance may also provide you coverage for the critical illness such as heart disease, stroke or cancer treatment etc.
Health and Happiness Are Connected Through Politics
Around the world, health correlates with happiness. The two are inextricably linked in numerous ways and through various channels, but in the end the relationship is a very strong one. Given the connection between health and happiness that the two cause each other, in effect the student of politics draws an immediate connection to the institution that might thus be responsible for variations in both health and happiness across the world: the nature and quality of a country’s health care system.
The simple fact is that the happiest countries, as well as the healthiest ones, tend to be those with some form of universal health insurance covering all citizens. It does not appear to matter what form universal access to care comes from it could be a single payer system as in Canada, “socialized medicine” as in the UK, or the various forms and mixtures of guaranteed private or public insurance that characterizes most countries in Western Europe. What seems to matter is the simple question of whether all citizens have access to affordable, high quality medical care.
The scholarly research clearly indicates that happiness promotes longer lives , better health, and faster recovery from surgery or illness. We also know that a generous social safety net helps promote happiness by freeing citizens from not only actual economic hardship, but also by protecting them from the worst kind of worry over financial disaster should they might become ill, pregnant, unemployed, retire, change jobs, or start businesses. Providing some level of insurance obviously relieves worry and tension, both about healthcare and finances, which in turn promotes health and lengthens lives
Where this safety net originates may or may not be important, but one thing is clear: whether it is provided by government, family, church, private insurance, or even one’s community, its presence frees people to pursue longer, happier, and more productive lives. Since this century is characterized by transience, high divorce rates and nuclear (not extended) families, weakening family ties, and weak ties, it may be obvious that, while not the only way, government offers the most obvious and common way of providing some kind of safety net to all citizens.
What Type Of Health Insurance plans Are Available In Pakistan?
Most of the Pakistani insurance companies provide Hospitalization cover plans however some of the leading insurance companies also offer a separate ‘Critical Illness’ plan that provides coverage for the following critical illnesses:
- Heart Attacks and Open Bypass Surgeries
- Cancer Treatments
- Stroke and Paralysis
- Organ Failures and Transplants such as Kidney
Buying private health insurance
If your employer doesn’t offer you health insurance as part of an employee benefits program, you may be looking at purchasing your own health insurance through a private health insurance company. When your employer offers you the option to enroll in an employer-sponsored health insurance plan, they will typically cover part of your insurance premiums.
A premium is the amount of money an individual or business pays to an insurance company; health insurance premiums are typically paid monthly. If you need to insure yourself, you’ll be paying the full cost of the premiums. Because of this, it is common to be concerned about how much it will cost to purchase health insurance for yourself. However, there are different options and different prices available to you based on the level of coverage you need. When purchasing your own insurance, the process is more complicated than simply selecting a company plan and having the premium payments come straight out of your paycheck every month. Here are some tips to help guide you through the process of purchasing your own health insurance.
Keys for purchasing private health insurance
You may need to purchase individual healthcare coverage if you just turned 26, are unemployed or self-employed, work part-time, are starting a business that will have employees, or if you have recently retired.
If you do not have the option of enrolling in an employer-sponsored health insurance plan, a good source for gaining insurance coverage is through the Health Insurance Marketplace that was created in 2014 by the Affordable Care Act (ACA).
If you are retired, you also have the option of enrolling in Medicare, Madigan, or Medicare Advantage, if you are eligible.
Choosing the Best Insurance Plan For You
There are several different kinds of health insurance plans, and each of these plans has a number of unique features.
1.Health Maintenance Organization (HMO)
A health maintenance organization (HMO) is a company that’s organizational structure allows them to provide insurance coverage for their subscribers through a specific network of healthcare providers.
Typical features of an HMO include paying for insurance coverage for a monthly or annual fee. Premiums tend to be lower for HMOs because health providers have patients directed at them, but the disadvantage is that subscribers are limited to accessing a network of doctors and other healthcare providers who are contracted with the HMO.
2.Preferred Provider Organization (PPO)
A preferred provider organization (PPO) is a type of insurance plan in which medical professionals and facilities provide services to subscribed clients at reduced rates. Healthcare providers that are part of this network are called preferred providers, or in-network providers. Subscribers of a PPO plan have the option of seeing healthcare providers outside of this network of providers (out-of-network providers) but the rates for seeing these providers are more expensive.
3.Exclusive Provider Organization (EPO)
An exclusive provider organization (EPO) is a hybrid of the HMO and a PPO plan. With an EPO, you can only receive services from providers within a certain network. However, exceptions can be made for emergency care.
Another characteristic of an EPO plan is that you may be required to choose a primary care physician (PCP)–a general practitioner that will provide preventative care and also treat you for minor illnesses. In addition, with an EMO plan, you usually do not need to get a referral from your PCP in order to see a specialist physician.
4.High-Deductible Health Plan (HDHP)
A high-deductible health plan (HDHP) has a couple of key characteristics. First, it has a higher annual deductible than other insurance plans. A deductible is the portion of an insurance claim that the subscriber covers themselves. Second, high-deductible health plans typically have lower monthly premiums.
This type of plan is ideal for young or typically healthy people who don’t expect to demand healthcare services unless they experience a medical emergency or an unexpected accident. The last defining feature of a high-deductible health plan is that it offers access to a tax-advantaged Health Savings Account (HSA).
An HSA is an account that subscribers can contribute funds to that can later be used for medical costs that their high deductible health plan doesn’t cover. The advantage of these accounts is that the funds are not subject to federal income taxes at the time of the deposit.
5.Consumer-Driven Health Plan (CHDP)
Consumer-driven health plans (CDHPs) are a type of high-deductible health plan. A portion of services that subscribers receive is paid for with pre-tax dollars. Like other high-deductible healthcare plans, consumer-driven health plans have higher annual deductibles than other health insurance plans but the subscriber pays lower premiums each month.
6.Point-of-Service (POS) Plan
A point of service (POS) plan provides different benefits to subscribers based on whether or not they use preferred providers (in-network providers) or providers outside of the preferred network (out-of-network providers). A POS plan includes features of both HMO plans and PPO plans.
7.Short-Term Insurance Policy
A short-term insurance policy is a type of insurance coverage that lasts for a short period of time, typically for three months. However, term lengths vary by state, and in some U.S. states, you may be eligible for a short-term plan for up to 12 months.
Short-term health insurance is also called temporary health insurance or term health insurance. It can be a temporary solution to help fill gaps in insurance coverage if you are between jobs, waiting for other coverage to begin, if you are waiting to become eligible to Medicare coverage, or if you need to enroll in health insurance but it is outside of the designated open enrollment period.
Under a short-term insurance plan, your spouse and other eligible dependents may also be covered. However, one important caveat of a short-term insurance plan is that in some cases, pre-existing conditions can disqualify you from coverage. The definition of a pre-existing condition varies depending on the state you live in, but it is usually defined as something you have been diagnosed with or received treatment for within the last two to five years.
Catastrophic health insurance is a type of insurance plan that is typically only available to adults ages 30 or younger. In order to qualify for catastrophic coverage, you must receive a hardship exemption from the government. Catastrophic health insurance typically has lower premiums than other health insurance plans.
These types of plans are intended for people who cannot afford to spend very much money every month on insurance premiums but who don’t want to be without insurance in the event of a catastrophic accident. While catastrophic health insurance plans may have low monthly premiums, they typically have the highest possible deductibles.
Once you’ve decided on the type of plan that is best for you, you’ll need to determine how much you can afford to pay as a deductible. Remember, a deductible is the defined amount you pay for covered healthcare services before your insurance plan starts to pay. What can you afford to pay in out-of-pocket medical expenses each year? With most health insurance plans, the higher your deductible is, the lower your monthly premium will be. If your monthly cash flow is low, you might have to opt for a higher deductible.
Key Consideration When Buying A Health Insurance Plan
There are certain factors which may impact the cost of your Health Insurance policy. Your current health and medical history is an important factor for potential insurers. They will need to know this vital information whilst taking out the Health Insurance policy. Your age will also be considered and whether you are a smoker or a non-smoker. Usually, elder policyholders are more likely to make Health Insurance claims than the younger policyholders. The level of excess that you have set up on your policy will also need to be taken into consideration. Any existing medical conditions will be taken into consideration by the Health Insurance provider in order to calculate your premium.
Role Of Your Personal Information In Buying Health Insurance
Health insurance help you to cover the costs of private medical care for you or your family and enables you to receive the treatment quickly as and when required. Your personal information plays a critical role in buying a health insurance policy. It is very important that accurate information is provided on your behalf whilst taking out the Health Insurance as any incorrect personal information may invalidate your policy in the event of a claim. As with any type of insurance cover, you will need to check what level of coverage is provided through the terms & conditions and your policy statement. In general, the more coverage that you select then naturally the more expensive your premium is likely to be.
Personal information is require in health insurance, it is most important factor in health insurance policies without your personal information you cannot take all of the benefits.
What Is Not Covered In My Health Insurance Plan?
Whilst taking out the Health Insurance plan, the insurance company will need to know if you suffer from any current illnesses so that they can assess your current medical situation and give you the right cover which is needed. Usually, companies do not provide cover in case of any existing critical illness and treatment. In addition, the following treatments are also not covered by regular health insurance plans:
- Cosmetic surgeries treatments for infertility such as IVF
- Sun glasses
- Surgeries required to treat weight loss
- Long-term disability care
You will need to check with your existing Health Insurance provider of what illnesses are not covered. This will be mentioned in more detail in the terms and conditions section of the policy document.
What is happiness?
Happiness is that feeling that comes over you when you know life is good and you can’t help but smile. It’s the opposite of sadness. Happiness is a sense of well-being, joy, or contentment. When people are successful, or safe, or lucky, they feel happiness. … No one ever complained about feeling too much happiness.
What is happiness according to psychology?
According to psychology, happiness is about more than simply the experience of a positive mood. … In other words, happiness is “people’s evaluations of their lives and encompasses both cognitive judgments of satisfaction and affective appraisals of moods and emotions.
Why is happiness so important?
The fundamental reason why happiness is so important is that it’s extremely vital to our own goals in life and can help us achieve many other cherished personal ambitions and goals. Also, by being happy, we have the potential to change many other lives just by being ourselves.
How Does happiness affect our life?
Scientific evidence suggests that being happy may have major benefits for your health. For starters, being happy promotes a healthy lifestyle. It may also help combat stress, boost your immune system, protect your heart and reduce pain. What’s more, it may even increase your life expectancy.
Does health affect happiness?
A new study found that the degree to which a disease disrupts daily functioning is associated with reduced happiness. A new study published in the Journal of Happiness Studies found that the degree to which a disease disrupts daily functioning is associated with reduced happiness.
Frequently Asked Questions
Are people with health insurance healthier?
The best evidence suggests that health insurance is associated with more appropriate use of health care services and better health outcomes for adults. … Overall mortality and general measures of health status.
How much does the average person pay for health care?
According to the CDC, during 2015 health expenditures per-person were nearly $10,000 on average, with total expenditures of $3.2 trillion or 17.8% GDP.
How much does the average Canadian pay in taxes for healthcare?
Canadian healthcare isn’t free
But it’s paid largely by Canadian tax dollars. While there isn’t a designated “healthcare tax,” the latest data from the Canadian Institute for Health Information (CIHI) in 2017 found that on average a Canadian spends $6,604 in taxes for healthcare coverage.
Why is health care cost rising?
Increasing costs for medical services, caused by both a growing and aging population play a large role. But so do other factors such as the growing number of people with chronic disease, increased costs for outpatient and emergency room care, higher premiums, and higher out-of-pocket costs.
Mostly peoples want to known that health insurance make life happier? After overall view i said yes it makes because health insurance is very important in human life unexpected illness any time become in life if you have a life insurance you have no worry about your health.