Popular Insurance Programs

Insurance is a form of risk management. It offers protection against contingent, uncertain losses. There are many insurance programs in existence. This is probably because many people tend to get attracted to anything that protects them against losses. Of course, insurance providers have a big market, and who does not like the word “protection?” However, all insurance programs are not the same in the eyes of consumers. There are those that stand out from the crowd, and they are more popular than you can imagine. Let’s explore a few of them.

Medicaid

This is a joint state and federal program aimed at providing low-cost or free insurance coverage to Americans, including pregnant women, poor people, the disabled, and the elderly. A portion of funding for this program is provided by the federal government, which also sets the program guidelines. Medicaid varies from one state to another, and it is known by various names, including Medi-Cal and Medical Assistance. Since its inception, the program has undergone expansion in several states, making it easy for many people to benefit. Eligibility depends on factors such as your family size, household income, and disability. You must also be a U.S. national, citizen, or permanent resident to qualify for Medicaid.

Children’s Health Insurance Program (CHIP)

If you are a U.S. citizen, you will not need to buy a health insurance plan to cover your children if they qualify for CHIP. This program exists to provide low-cost health insurance to children from high-income families that don’t qualify for Medicaid. CHIP also provides coverage to pregnant women in some states. Although the benefits of CHIP vary with state, the program generally covers the following:

• Immunizations

• Doctor visits

• Prescriptions

• Dental and vision care

• Routine check-ups

• X-ray services

• Laboratory services

• Inpatient hospital care

• Outpatient hospital care

• Emergency services