Health Insurance

Health insurance is insurance that covers the whole or a part of the risk of a person incurring medical expenses, spreading the risk over a large number of persons. By estimating the overall risk of health care and health system expenses, an insurer can develop a routine monthly premium, to provide the money to pay for the health care benefits specified in the insurance agreement. Health insurance is defined as “coverage that provides for the payments of benefits as a result of sickness or injury. It includes insurance for losses from accident, medical expense, disability, or accidental death and dismemberment”

health insurance policy is:

  1. contractbetween an insurance provider and an individual.  The contract can be renewable (e.g. annually, monthly) or lifelong in the case of private insurance. The type and amount of health care costs that will be covered by the health insurance provider are specified in writing, in a member contract or “Evidence of Coverage” booklet for private insurance.

The individual insured person’s obligations may take several forms:

“Health Insurance, sometimes known as income protection, protects the consumer against unforeseen circumstances such as disability and long-term illness by providing financial help to replace lost income.  BMGIA provides options from the top Insurance Companies in The Bahamas and gives you an overview of rates to fit your unique needs and budget.  Start the Process today to insure you are covered incase of a health condition.”

Insurance Form 2018