Insurance in the US

Healthcare is one of the most important things, not only in the agenda during budgeting of the country’s expenses for the year. We all take a keen interest in the healthcare we receive every time we fall ill. It is due to this that many governments encourage their citizens to take the necessary measures to ensure that they receive the best healthcare when they need it. The most common measure that many people have taken to ensure the best healthcare include taking healthcare insurance.

What You Need To Know About Insurance In The United States:

In general simple terms, healthcare insurance can be used to refer to any insurance policy taken. This insurance comes in handy when you need to access medical services and even purchase prescriptions and other expenses related to medical care. If you have the healthcare insurance cover, you can avoid paying via cash and use the cover instead. It is also more convenient to have a medical cover than depending on making cash payments for all your medical expenses. Some of the things you need to know about insurance in the US include the following:

• Terms like healthcare coverage and health benefits can also be used to refer to healthcare insurance.
• There are different types of healthcare insurances in the US categorized into 2 major classes, private and public. As the names suggest, the public insurance is mostly for the people who cannot afford to have their own personalized insurance covers. Private insurance on the other hand is a very flexible healthcare insurance that is available for the people who can afford it.
• The number of people in the US who died due to lack of medical cover in the year 2005 were approximately 45,000 people. Studies have also shown that people who do not have a medical cover have a 40% increased chance of facing death.
• Affordable Care Act which was passed in the year 2010 as aimed at increasing the number of people in the US with a healthcare insurance cover. The act has led to the gradual increase in the people with healthcare insurance covers in the US.
• The Tax Cuts and Jobs Act was passed in the year 2017 and is set to be implemented starting 2019. According to this act, people who do not maintain their healthcare insurance cover will not be penalized. This act is guaranteed to bring down the number of people with healthcare insurance covers by a large figure, 4 million.

Healthcare is one of the most important things that countries and individuals take seriously because it could be disastrous when out of control. It is due to this that many governments today are encouraging their populations to take medical covers. This is because they are convenient and they can be used at any time. Statistics have shown that in the year 2005, approximately 45,000 people in the United States of America died due to lack of healthcare insurance. It is due to this that the US government passed an act that encouraged all the citizens to seek a healthcare insurance cover.

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