Health Insurance & Health Care Options with Details

Health Insurance & Health Care Options

In this article we will describe about Health insurance and Health care facilities worldwide.

Health insurance is an insurance that covers the whole or a part of the risk of a person incurring medical expenses, spreading the risk over a large number of persons.

According to the Health Insurance Association of America, health insurance is defined as "coverage that provides for the payments of benefits as a result of sickness or injury.

The national system of health insurance was instituted in 1945, just after the end of the Second World War.

Germany has the world's oldest national social health insurance system, with origins dating back to Otto von Bismarck's Sickness Insurance Law of 1883.

There are two major types of insurance programs available in Japan – Employees Health Insurance (健康保険 Kenkō-Hoken), and National Health Insurance.

In India, provision of health care services varies state-wise. Public health services are prominent in most of the states, but due to inadequate resources and management, major population opts for private health services.

The Australian public health system is called Medicare, which provides free universal access to hospital treatment and subsidised out-of-hospital medical treatment. It is funded by a 2% tax levy on all taxpayers, an extra 1% levy on high income earners, as well as general revenue.

In 2006, a new system of health insurance came into force in the Netherlands. This new system avoids the two pitfalls of adverse selection and moral hazard associated with traditional forms of health insurance by using a combination of regulation and an insurance equalization pool.

Since 1974, New Zealand has had a system of universal no-fault health insurance for personal injuries through the Accident Compensation Corporation (ACC).

The UK's National Health Service (NHS) is a publicly funded healthcare system that provides coverage to everyone normally resident in the UK.

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Short-term health insurance plans do not satisfy the requirements of the ACA, and they do take pre-existing conditions into account for new applicants.

Here is Top 5 Companies of Health Insurance

1. UnitedHealth Group Incorporated

Country of domicile: United States of America

Net premiums written: $158.5 billion

2. AXA S.A.

Country of domicile: France

Net premiums written: $104.5 billion

3. China Life Insurance (Group) Company

Country of domicile: China

Net premiums written: $97.6 billion

4. Ping An Insurance (Group) Company of China Ltd.

Country of domicile: China

Net premiums written: $90.3 billion

5. Allianz SE

Country of domicile: Germany

Net premiums written: $86.8 billion

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