What is Health insurance?

So, you’ve been hearing about health insurance and you’re not quite sure what it means, sit back, and relax, you’re in the right place.

We’re going to be breaking down the concept of health insurance, how it works, if it works, and if you also came with the question; “do I need health insurance”, we’ve got you covered, but first a story!

Ope left his house one Monday morning, he bid his family goodbye as he drove off to work.

It was his second month on the job, and while he was really excited to be working at his dream job, the workload was a lot, and driving back and forth through traffic beginning to take a toll on him. He was feeling unusually stressed this particular Monday morning, even though he barely got enough rest over the weekend due to preparation for his department’s presentation, he felt he could take on the new week head-on.

There was a lot of traffic but it wasn’t strange for a Monday morning in the populated city of Lagos.  He employed his superb driving skills in maneuvering through the busy roads, and got to the office just in time, delivered the presentation excellently, and received a round of applause. He was very excited that his presentation was impressive and as he made to take a bow, he slumped.

Ope woke up some hours later at the hospital, the doctor told him he had passed out due to high blood pressure and was going to be placed on admission for observation. Ope thanked him but was worried that the hospital would be very expensive. While he was assured of quality health care, he was concerned about the medical bills and the effect on his salary. Ope was restless until his colleague came visiting and told him that all employees were covered by health insurance, so he wouldn’t need to pay out of pocket for his medical bills.

Ope was relieved and he finally get some needed rest.

What Is Health Insurance?

Health insurance is a type of insurance coverage that pays for medical, surgical, prescription drug, etc incurred by the insured.  In simple terms, health insurance is a plan that covers your medical bills, the extent of coverage depends on your health insurance plan and HMO provider

Imagine going to the hospital and not paying for your medical bills because your subscription covers it.

How does Health Insurance Work?

You subscribe to a health insurance plan like flexicare and get your unique HMO ID which you can present at any partnering hospital to receive health care services. Your medical bills go first to your health insurance provider and then, they pay for some or all of that bill according to the plan you’re subscribed to.

Why Should I Get Health Insurance?

There are two major reasons why people get health insurance:

1.       Health insurance supports you if you get sick.

2.       Health insurance helps you avoid getting sick in the first place.

Health Insurance as a Safety Net

It is important to have health insurance as a safety net for unexpected medical emergencies such as sudden illness, injury or accidents, health insurance helps to cover costs that you did not envisage or worse cannot afford to pay.

Health care can be very expensive. It can be a crippling financial burden.  Think about the cost of Surgery, emergency care, prescription drugs, lab work, scans, and consultation – these costs can add up very quickly. They can even be high enough to cause individuals to go bankrupt, refuse care that they need but can’t afford to pay out-of-pocket.

With health insurance, you’re not facing those costs as an individual; the health insurance plan helps you cover the costs of medical bills and allows you concentrate on actually getting better.

Medical bills are the last thing you want to be dealing with while ill, injured, in a hospital bed or the emergency room. It’s smart to make wise financial decisions ahead of time, by getting health insurance before you get sick.

Preventing Illness

The other reason it’s important to have health insurance is that it prevents you from getting sick in the first place.

Prevention is better than cure is an ancient proverb that still rings true.

Having health insurance makes it easier for you to access routine and preventive health care. This includes:

• Annual checkups
• Vaccinations
• Blood tests and lab work
• Scans and screenings

These go a long way in keeping you healthy and diagnosing any illness you might have, leading to early detection and treatment.

Health insurance plans that are inclusive of pre-existing conditions, help cover the costs of managing chronic conditions one might have, such as high blood pressure, diabetes, or heart disease. Early detection makes it easier for you to stay on top of health conditions.

Routine and preventive care is especially important where children are concerned. Kids, infants, and pregnant mothers need regular medical checkups to keep them healthy and thriving. Early detection and intervention prevents problems down the road, and can even save lives.

It isn’t only about physical health: health insurance also covers mental and behavioral health care, as well.

Can I Afford Health Insurance?

The cost of health insurance varies from plan to plan; however, the flexicare health insurance plan is super affordable at 1600 Naira Only. You’re definitely more likely to afford health insurance than to pay for a surgery, illness, or emergency room visit out of your own pocket.

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