They say life is unpredictable and this could not have been truer when you think about accidents and disasters. Nothing can be more devastating than being hit by an accident and having no money to clear your dues. In times like these, medical insurance is what you can count on. However, even before that, you need to understand the true meaning of the need for health insurance.

You might wonder that in the time of recession, why should you even ponder about health insurance. The cliché goes health is wealth, which is completely true. Your priceless wealth is your health. Whatever you do, you cannot risk it. Accidents and disasters do not inform you when they arrive, so is not better to prepare yourself beforehand? Also the inflation and ever increasing costs of prescription drugs and surgeries are one if the many reasons why health insurance holds significance.

There are many types of health insurance policies. The most common one is the free-for-services plans. This includes a certain amount of money to be collected from the patient. After that, the organization pays the majority of your health expenses. Preferred Provider Organizations are another better type. What they do is that they have a predetermined network of health providing organizations and hospitals that agree upon providing lower rates to you.

Points of Service (POS) plans are another type that provides you with a general physician to give you primary health care facilities. He is the person who decides what further medical assistance you might need. Also he is responsible to advise you about which doctors to turn to, keeping your condition in consideration.

Furthermore, the Health Maintenance Organizations (HMO) plans provide good insurance by giving a low monthly pay. However, this mode is seen to be the most inflexible type of health insurances. For other families who cannot seem to afford general health facilities, the government provides health care known as Medicaid.

Even though you might wonder you do not need a medical insurance if you are young, however this is not true. Health insurances are to help your family in case you fell ill and obviously, there is no age boundary to when you might be ill. Although it is wise to invest your money in places that give you great benefits, but just think about the innumerable benefits you may get when you get little or no burden on your pocket when you feel sick. Secure present and future for yourself as well as that of your family.