Question

how do you provide effective medical benefits while also controlling the cost?(about individual health insurance)

Answer 1

INTRODUCTION-:

Health insurance is an agreement between the insurance provider and an individual where the former guarantees to take care of certain medical costs of the latter based on the investment made by them. Individual health insurance plans covers only an indiidual that is the policyholder, who will gain the benefits of insurance for the investment made.

BENEFITS WITH CUTTING COSTS-:

The individual health insurance provides a plan best suited for individuals with higher health risks. An individual who wants higher protection than the amount insured under the family plan , can go in for it. A cashless facility is also available for the claim settlement under it. This policy also covers the hospitalization charges for their policyholders. The best benefit available is the tax deduction under Income tax act. It covers various other charges like the surgery costs, room rent, physician's fees ,etc. The insurer is required to pay a predetermined amount for the health care only, which helps the policyholders to fix their expenses.

Therefore, these were the effective benefits of medical insurance while controlling the costs.