Being In The Know Concerning Health Insurance
Most everyone has some form of insurance coverage; from auto to health to home owners
. Yet very few can actually explain how it all actually works. Most will admit that they pay the monthly or annual premium and continue with their monthly routines. They understand it is protection when they need it. As basic as this knowledge is, that what most people know about insurance. One possible good explanation concerning health insurance is that the policy is handled almost exclusively by the employer.A collective pool is how health insurance is formed, making everyone within the collective covered under the same umbrella, regardless of the health or medical conditions of any single individual. The pool knows that there will be more healthy individuals than ones with costly health issues and that a balance is created and affordable for everyone.
A pool is a random sampling and it benefits the health insurance companies to have pools because this cuts down their risks and since they charge based on the average they are assured that while some will be using a ton of benefits in the coming year, others will only use a very small percentage. Since the money also goes into a collective pool, however, essentially if you are a person who uses less of your benefits and someone else uses more of theirs then you are paying for some of their benefits as well.
This concept is a very important one for anyone wanting to understand the bigger picture. Opponents to the health care reform will argue that the reform would make the system very unfair for anyone who is healthy and placing more burden on them for the ones who will need more costly services while contributing less. Apparently they have overlooked the fact that this same scenario has been happening in the current health care system. The only difference is that the government will add thousands of people to the active insured status list, regardless of their health issues and complications as well as thousands of healthy persons to balance out the scales.
Collective pooling in the area of health insurance is really the only way to make sure that everyone receives the coverage that they need. When you look at it while you may be one of the healthier individuals in the pool now, no one really knows what the future may hold and just because you start out on the top of the ladder on serious illness could send you plummeting to the bottom very quickly.
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