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| Home » Information on Health Insurance » History of Health Insurance |
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History of Health Insurance
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The History of Health Insurance dates back to 1694 when Hugh the Elder Chamberlen from the Peter Chamberlen family proposed about this concept. If we look at the origin of health insurance, it is evident that early 19th century health insurance was actually disability insurance. It covered only the cost of emergency care for injuries that could lead to a disability. This model was continued until the start of the 20th century, where all laws of health insurance actually referred to disability insurance.
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Health insurance history suggests that patients were required to pay all other health care costs out of their own pockets. During the middle to the late 20th century, traditional disability insurance gave way to modern health insurance programs. At present the most comprehensive private health insurance programs cover the cost of routine, preventive, and emergency health care procedures along with the prescribed drugs.
The old history of health insurance has changed a lot. A Health insurance policy is an annually or monthly renewable contract between an insurance company and an individual. The individual pays a certain amount to the company. In return, the insurance company takes care of most of the medical related expenses.
Some health care centers also agree to bill the insurance company directly if the patients are willing to sign an agreement that they will be responsible for the amount that the insurance company doesn't pay. Health insurance history has evolved a lot and the Health Insurance companies are now offering Health Incentive accounts. This plan is to reward users for living healthy and making healthy choices, like stop smoking, losing weight and so on. These plans may get your funds added into your Health Incentive Account, and it can lower your pocket costs. The health incentive accounts also carry over from year to year but if you chose to leave the program you will loose all the benefits.
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