Health insurance is a type of insurance coverage that pays for medical and surgical expenses incurred by the insured. Learn more at: -insurance-learning-center/obamacare-vs-term-health-insurance-premiums Short Term health insurance is streamlined medical insurance, it covers many benefits in the case of illness or accident, but it does not include all ten of the essential minimum benefits of Obamacare.
The remaining 45% of health care funding comes from insurance premiums paid by the public, for which companies compete on price, though the variation between the various competing insurers is only about 5%. However, insurance companies are free to sell additional policies to provide coverage beyond the national minimum.
In some countries, such as the United Kingdom or Canada, health care coverage is provided by the state and is seen as every citizen’s right – it is classed along with public education, the police, firefighters, street lighting, and public road networks, as a part of a public service for the nation.
If you have a medical insurance that covers you and your senior citizen parents (and you are not a senior citizen yourself), you stand to avail a benefit of Rs.25,000 for yourself / family and Rs.30,000 for holding an insurance policy for your parents.
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