Health insurance policies are designed to cover the cost of medical treatments such as hospitalization, doctor or physician costs, medicine, and surgery expenses. Health insurance gives you financial support when facing a medical emergency or needing to cover healthcare costs. There is over 90% health insurance coverage in the USA, 30% health insurance coverage in India, and less than 10% of insurance policyholders are under health coverage in Bangladesh.

Defining Health Insurance:

A health insurance plan is a type of coverage where the medical expenses of the insured are covered directly by the insurance company. Depending on the terms of the policy the insured may claim reimbursement from the insurer and the insurer pays for all or some of the healthcare costs. The insured person pays a monthly premium for this plan.

Different types of health insurance:

There are different types of health insurance described below:

• Health Maintenance Organizations (HMOs)
• Exclusive Provider Organizations (EPOs)
• Point-Of-Service (POS) Plans
• Preferred Provider Organizations (PPOs)

Health Maintenance Organizations (HMOs):

HMOs give you a local network of participating doctors, hospitals, and other healthcare professionals and facilities that you must choose from. These health insurance plans also need to select a Primary Care Provider (PCP) from the network.

Exclusive Provider Organizations (EPOs):

EPOs offer you a network of participating providers to choose from. Except in the case of an emergency Most EPO plans do not include coverage for out-of-network care.

Point-of-Service (POS):

POS plans combine features of HMO and PPO plans. The provider network is typically smaller than a PPO plan and the costs for in-network care are typically lower, like an HMO. POS plans also require choosing a Primary Care Provider (PCP) from within the plan’s network of doctors and other primary care professionals.

Preferred Provider Organizations (PPOs):

PPOs typically offer you a large network of participating providers so you have a lot of doctors, hospitals, and other healthcare professionals and facilities to choose from.

Types of Health Insurance Plans:

There are different health insurance plans designed for the people.

• Individual Health Insurance,
• Senior Citizens' Health Insurance,
• Critical Illness Insurance, and
• Group Health Insurance

Universal health coverage:

Universal health coverage (UHC) means that all people have access to the full range of quality health services they need, when and where they need them, without financial hardship. It covers the full continuum of essential health services, from health promotion to prevention, treatment, rehabilitation, and palliative care.