Health Insurance: Nigerian Youths Suffering A Great DealEven if enticing, a brief look at the above importance of health insurance and the many types of health insurance may deter unemployed Nigerian youth who have no other source of money.
By Grace Ayuba Manga
The Nigerian youth feels that as long as he is young, he should be healthy, and hence pays little or no attention to matters like health insurance. However, when one grows older and their health begins to decline, they recognize the need of having health insurance coverage.
When an unemployed Nigerian kid is ill, he usually cannot afford to pay such enormous sums, especially when the amount of care required is unclear.
Insurance firms have done significant research into risk, and their purpose is to collect enough premiums to pay their clients' medical expenses.
- Pharmaceutical Care: Pharmacology (a branch of medicine and pharmaceutical sciences concerned with drug or medication action) is critical in modern medicine, which is why drug prescriptions are covered by health insurance plans. Even though the amount covered varies by plan, pharmaceutical insurance will always cover drug prescriptions and the issuing of medications as needed.
- Routine Care: This includes laboratory tests, physical examinations, injections, and vaccines, among other things. Routine visits may be covered, but only to a limited extent, depending on the degree of health care provided by the insurance plan.
- Chronic Condition Treatment: The majority of the cost of treating a chronic condition is usually covered by insurance. As long as there isn't a pre-existing ailment or illness. When necessary, the coverage frequently allows for multiple treatments, ongoing testing, and exclusive medication.
- Medical Assistance in an Emergency: Health insurance will always cover a variety of medical emergencies. Drug overdoses, car accidents, heart attacks, acute illnesses, unexpected injuries, and natural disasters are just a few examples.
When it comes to health insurance, there are a few different sorts of plans to consider:
- Preferred Provider Organization (PPO): A PPO plan is a health insurance plan that is provided by a preferred provider organization. Employees are encouraged to use a network of preferred doctors and hospitals under this health insurance plan. Out-of-network services can result in greater out-of-pocket expenditures for a PPO plan.
- HMO (Health Maintenance Organization): An HMO is a health maintenance organization that offers health insurance. Employees spend less money out of pocket with this plan. However, as compared to other plans, it offers less choice in terms of choosing doctors and hospitals.
- Point of Service (POS): A POS is a health insurance plan that is sold at a point of service. It includes the benefits of both an HMO and a PPO, and it may require employees to select a primary physician.
- EPO (Exclusive Provider Organization): EPO is a health insurance plan offered by an exclusive provider organization. They, like HMOs, have a network of doctors that members must use unless they are in an emergency.
- Indemnity: Indemnity is a fee-for-service health insurance coverage. It pays a fixed percentage of the costs of covered services to the member.