Major Health Insurance Plan Homepage

Health Insurance Plans

Personal Health Insurance

Medical Health Insurance

Business Health Insurance

Student Health Insurance

Pet Health Insurance

An Overview Of Accident & Health Insurance

One of the recent money-spinning sectors is the accident & health insurance industry. This is not only true for its shareholders but also for its customers. The possession of an accident and health insurance to indemnify you can ease a lot of pressure and make situations easier in case of health situations. For such kind of trust we place in our accident and health insurance, it will be of a profit if we acquire the knowledge of how they began. The main aim of this article is to recount the inception of the accident and health insurance and discuss its growth over the years.

Key Features Of Accident & Health Insurance

These industries specialize in providing coverage for accidental injuries and sickness. They include establishments that provide health insurance protection for disability income losses and medical expense coverage on an indemnity basis. Sometimes, for the sake of product promotion, accident and health insurance providers love to collaborate with fellow firms in the field (pharmaceutical companies, medical professionals, managed care organizations, etc) to offer cheap insurance packages that involve flexible payment plans to their customers.

A Historical Perspective

The concept of accident and health insurance goes back to over 2000 years ago. However, the first glimmer of this kind of insurance was seen in the United States when the Congress established the U.S. Marine Hospital for service men. Then, seamen had to contribute modest premiums from their salaries for protective cover in case of injury at work and for maintenance of health. However, the modern form of accident and health insurance has its roots in the 1930s due to the Great Depression. Accident and health insurance adopted comprehensive medical plans to cover enormous medical cost at low premium fees.

The Growth Of The Accident & Health Insurance Industry

From 1960s until date, premium fees for accident and health insurance has been fair to customers. The main reason for this is that the main health risk has been shifted to employers that offered employee insurance plans. Hence, health care providers have little cause to control the costs since the employers are footing the bills. In addition, tax benefits were offered to employers offering insurance plans to employees, while employees' premiums were not taxed at all. These advances allowed for reduced cost as well as improved services.

The idea of employers footing the main insurance bill for employees later changed in the 1980s. This came to being because of economic stagnation that necessitated the employers shifting more insurance burden on the employees. In addition, health cost began to skyrocket faster than inflation. Today, it is worthy of note to say that rates increase is still one of the accident and health insurances' Achilles' heel.

Personal Health Insurance Is Important For All

An Overview Of Accident & Health Insurance

An Overview Of Catastrophic Health Insurance

Family Health Insurance Is A Financial Necessity

The Need To Purchase Individual Health Insurance

An Overview Of International Travel Health Insurance