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The Purpose of Medical Insurance

As of late 2010, over 50 million Americans do not have medical insurance, which is about 16.7 percent of the population, according to MSNBC. The majority of insured Americans receive medical insurance from their job or employer, and the majority of uninsured people do not have insurance because of high costs, according to HealthPAC. Medical insurance serves several purposes.

  1. Routine Care

    • Medical insurance helps members receive routine medical care from their doctor. Patients typically pay small co-pay fees each time they visit the doctor, which are usually between $10 and $50. Without insurance, these visits would cost hundreds of dollars out of pocket. Some insurance plans even offer free routine visits to patients. These visits ensure that the patient is healthy and can help doctors diagnose and treat other health issues.

    Medical Procedures

    • Medical insurance also helps people receive various medical procedures or surgeries. Like routine doctors' visits, these procedures are mostly covered by the insurance, leaving the patient to pay a fraction of the total cost. Some surgeries can cost hundreds of thousands of dollars, but medical insurance pays most or sometimes all of these costs, so important and sometimes life saving procedures can be performed without going into debt.

    Medication

    • Medication is another reason to have medical insurance. Medical insurance helps cover most of the cost of prescription medication, which can be very expensive if paid out of pocket. Insured patients pay only a co-pay or sometimes nothing at all to receive their medication, and the insurance company pays the rest. This does not include over the counter medication, unless a prescription is written by a doctor. Insurance allows people who need medication to get it at affordable prices.

    Insuring Family

    • Individuals with children or families often get insurance plans that cover everyone in their household. This gives parents and spouses peace of mind that if something were to happen to their children that required medical attention, the children could receive the necessary care without the family going into thousands of dollars in debt. Medical insurance for families also allows children to receive routine care to ensure they grow up healthy with consistent medical care.

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