Health is wealth, as the popular adage goes. This is true especially today when the cost of medicines and hospitalization is expensive. People try to avoid getting sick by living a healthy life and taking vitamins daily. However, people cannot totally avoid being sick which is why one must always be ready for such an eventuality. One way to minimize the cost of unexpected sickness is through health insurance. Health insurance is an insurance against the risk of incurring medical sickness among individuals (Wikipedia). This means that when the insured individual gets sick, the insurer will have the burden of paying for all medical expenses according to the agreed coverage of the insurance. The most important benefit of health insurance is the protection it gives the insured in times of sickness.

A health insurance policy is a contract between an insurer/insurance provider and the insured or his sponsor. The contract will specify the type and amount of health care costs covered by the insurer. This contract is also called an Evidence of Coverage. In exchange of the risk being transferred to the insurance provider, the person who takes out a health insurance, either for himself or a third party, must pay a premium to the insurer. Premium payment varies depending on the insurance provider. Most health insurance providers allow one-time premium payment or installment premium payments.

There are many benefits that can be derived from health insurance. The most important benefit from health insurance is the coverage the insured enjoys in times of sickness. Another benefit of health insurance is the free annual check up included in the insurance package. By having regular check-ups, the insured will also detect health issues early and avoid serious illnesses. During the time of sickness, insured individuals are guaranteed fast treatment. Uninsured individuals who refuse to purchase health insurance think that they will be treated in the emergency room anyway. This may be true, however, emergency rooms tend to be crowded and one can’t always get priority treatment especially when there are more urgent cases in the hands of ER doctors and other medical personnel. An individual who has health insurance, on the other hand, has the benefit of getting primary care from a doctor who may have access to the patient’s medical history. Regular health care is much better than the emergency room care.

Health insurance has many benefits, the most important of which is the health care coverage enjoyed by the insured in times of sickness. To avoid further suffering in an already trying time, individuals must consider getting health insurance.