Health insurance is a type of insurance coverage that covers the cost of an insured individual’s medical and surgical expenses. … Depending on the type of health insurance coverage, either the insured pays costs out of pocket and is then reimbursed, or the insurer makes payments directly to the provider.
Health insurance, also known as private medical insurance, is designed to ensure that if you need medical treatment in future, you won’t need to worry about paying for the cost of the treatment.
If you are treated privately, health insurance will pay all or some of your bills.
It should get you diagnosed and treated quickly, as well as offer you a prompt referral to a consultant and admission to a private hospital at a time and place that is convenient for you.
With health insurance, you will have a choice of private hospital from an agreed list provided by your insurer.
The main benefits of private health insurance are:
- Shorter waiting times for treatment
- Better facilities
- Faster diagnosis
- Choice from a range of private facilities
- Choice of convenient time for appointments and treatments
What it does – and does not – cover
- Health insurance covers an array of things, including exclusive drugs, hospital stays, scans and surgical procedures.
- Inpatient treatment where you require a hospital bed is covered with most plans.
- Outpatient treatment where you visit external specialists or consultants is usually available on more expensive policies. Different plans will offer different options.
- Not usually covered, however, are any existing condition, chronic problems, elective surgery, organ transplants, and non-essential cosmetic treatments.