Health Insurance 101

Before the specific types, all forms of health insurance falls under two categories; the first is private and the next would be government funded. For private health insurance you can either have one of the following types; Job based, which means you are insured as a benefit of your job in a company (which is also mandatory by law according to the labor code), the next would be individual or person to person policies that you get for your own use, there are also association health plans to which you are insured due to a membership say to the Golf club or country club and last would be Consumer driven health plans or some call it a health pensions that are tax-free. You pay a sum month by month which accumulates and can be used for medical purposes tax-free. Upon reaching retirement age the said accumulated amount can be withdrawn for whatsoever reason you may deem fit tax-free.