Chelsey Tucker graduated with a Bachelor of History degree from Metropolitan State University in 2019. She now writes about insurance with her specialty being life insurance and has been quoted on Help Smart Phone and MEL Magazine.

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years. He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com.

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Mar 19, 2020

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The lowdown...

  • A medical insurance policy, also known as a health insurance policy, is a type of insurance that helps you pay for medical services and other health-related expenses
  • There are many types of health insurance policies that range from full-coverage to only basic emergency care
  • The Affordable Care Act made it a legal requirement for every individual to have qualified health insurance or face a tax penalty
  • If you can’t afford to pay for a medical insurance plan, you may qualify for free health insurance through Medicaid

A medical insurance policy is a specific protection that refers to your health care. Doctors, as well as surgeons, get expensive when you pay out-of-pocket. However, health insurance exists so that you do not go bankrupt during a major illness or emergency.

Medical insurance policies work by you either paying out-of-pocket and being reimbursed or having your health insurance provider paying the provider directly. A provider falls into the category of health care specialists such as doctors, surgeons, and specialists.

A person with an insurance policy is referred to as the insured and the company that holds the policy is known as the insurer or insurance company. The most common way people were protected prior to the release of The Affordable Care Act was through their workplace and group insurance plans. The plans often included dental and vision along with medical.

However, since the introduction of The Affordable Care Act, the government mandates employers to insure their employees that work a specific amount of hours. You are also free to choose your own medical insurance policy through the Marketplace or a private insurer of your choosing.

Find your own health insurance through FREE quotes. Enter your zip code above to get started!

Why Health Insurance is Important

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Some believe that having a comprehensive health care policy is a matter of human rights. Others see insurance of any kind, part of capitalism and consumerism. Regardless, having a medical insurance policy that covers you and your family is for your benefit and wellness.

Accidents occur, and severe illnesses are part of participating in society. You do not want to be caught without insurance because not only is it mandated by law, but doctors, surgeons, and emergency room visits are expensive and can pile up quickly.

When you have a medical insurance policy, you have a point of contact that will assist you with all of your needs as it relates to your insurance claim. It is their responsibility to remain in touch with you and your health care providers. The insurance agency works for you because either you are self-paying or your employer is paying the premiums.

You want a quality policy that will not cost an arm and a leg. Instead, gather quotes and do enough research that you know you and your family are adequately covered at an affordable rate. You even have the option of opting out of insurance through your workplace if you feel there is a better medical insurance policy available for you.

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Medical Insurance Policy Options

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The Affordable Care Act was signed in 2010 and held up by the Supreme Court in 2012. The Act mandates that health insurance is required. You may have insurance through work, through the Affordable Care Act’s Marketplace, or a private insurance agent.

You may also qualify for deductions under The Affordable Care Act when shopping in The Marketplace. If you have children, they may also qualify for CHIPS, the Children’s Health Insurance Program. CHIPS covers more than simple health insurance and benefits children that lack insurance.

Both fall into the category of universal health care, and you would need to go through the Marketplace to check which deductions you may qualify for if your children fall under CHIPS, and if there is a medical insurance policy that best fits your needs.

Private insurance agents are also available. The agent still has particular governmental mandates to meet in order to insure anyone. Allowing dependents on insurance until the age of 26 and cover anyone with pre-existing conditions.

The one option that should not be a and that is not having insurance at all. It is against the current law of the land, it is a gamble on your health, and a larger risk for the lives of those that depend on you.

Finding The Medical Insurance Policy For You

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Premiums, deductibles, and other fees can get pricey. By learning about health insurance requirements and looking at the options in full, you may find you will not only discovered better insurance but at a cheaper cost.

If you are getting family coverage, keep their health needs in mind when looking for a medical insurance policy. Your child may play sports, and insurance coverage saves an out of pocket expense of a broken arm or torn muscle.

You may already be on medication or specific treatments when looking for an insurance policy change. Be sure to ask a health insurance agent or company representative about their prescription drug coverage options Some insurance coverage focuses more on preventive than current conditions. You do not want to overpay for a medication you need and have been on for years.

Start shopping for medical coverage today —  enter your 5-digit zip code in the box below to get free quotes right now!