What it is
Health and wellness insurance is a protection program for individuals and employees who are looking to avoid large, out-of-pocket expenses for unexpected and debilitating diseases or situations. Health insurance is one of the hot button political topics of the day with the Affordable Care Act fundamentally changing how health insurance is viewed in the United States and across the world.
2 – Who it is for
Health and wellness insurance is meant for every individual regardless of race, age, health or other variable.
3 – How it works
Depending on the contract that is signed between the insurance underwriter and the individual who is looking for insurance, this kind of package can work in many different kinds of ways. For the most part, the insurance package will pay out upon the individual meeting some criteria that is usually negative in nature. For instance, a health package that protects an employee from accidents on the job will begin to pay out if that employee suffers an accident that does not allow him or her to work for an extended period of time.
There are also health packages that pay a percentage of other health costs without necessarily having to incur a particular situation. In most normal health plans, an insurance company will pay a certain percentage for a procedure at a doctor’s office after the patient pays what is known as a “deductible.”
4 – Different types of coverage in existence
There are many different kinds of health packages in existence. They can be provided for individuals, families or groups of people who are under the same employment umbrella. There are also health packages that are meant to be preventive in nature or protect against incredibly expensive procedures such as heart transplants.
5 – Major benefits
One of the major benefits of a health plan is that the individual under the plan can avoid a large out-of-pocket expense if an unexpected accident occurs.