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Occupation. The more likely you are to suffer injury or illness because of the work you do, the more likely the health insurance industry will be to charge excessively for benefits. The Best Health Insurance Texas may be well and good for professional deep-sea divers. But the industry has begun to stretch the concept into areas that have nothing to do with the inherent danger of the work. The New York Times recently published an expose on the increasing number of professions to which health insurance companies will not issue policies. According to the Times, coverage is not denied because the professions are inherently dangerous, but because high numbers of homosexuals are thought to be among their members. In essence, what the health insurance carriers are trying to avoid is the likelihood of paying for the treatment of AIDS.
Best Health Insurance Texas
Risk, Premiums, and Insurance Policies
Basically, insurance is about spreading risk. For our purposes let’s define risk as the potentiality that on a given day you may incur an incident that causes you to lose something. This may be a fire, in which case you may need Best Health Insurance Texas; or and auto crash, in which case you risk losing your car, your health, and possibly, after the legal fees, your savings. Then again, the risk could concern your health and the necessity to retain doctors—another expensive proposition. In short, then, every day in virtually every way, we are all at risk of losing something of benefit to ourselves, known in insurance jargon as loss.
Losses come in two types: first-person losses and third-party losses. A first-person loss occurs when the policyholder is personally damaged for not having Best Health Insurance Texas. For example, if your car is stolen, you have experienced a first-person loss. A third-party loss exists when the damage occurs to someone else but in such a way that the policyholder is responsible. An auto accident is a classic example, where one person often must pay damages to another (the third party) for damages caused by the collision.
Both types of losses can make their unwelcome arrival together when using Best Health Insurance Texas. The auto accident is again a good example. If you are in an accident you may incur a third-party loss as we just described. But you may also have a first-person loss in damage to your own car, in your own medical bills, and in legal fees if and when you are sued.
The question then becomes this: Who must bear the burden of loss; that is, who has to pay? Without insurance, if your house burns down, you must pay to rebuild. If you lose a lawsuit, you must pay the verdict (not to mention the lawyers). If your appendix must come out, so must your wallet.
…..Continued in Business Health Insurance Texas
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