There are several different types of insurance in existence. Health insurance protects you from the high cost of medical care by providing coverage for specific health care services.  Although you generally pay a monthly premium and either co-payments or co-insurance, the cost for insurance, in most cases, is far less than medical care would be if paid fully out of your own pocket.

A health insurance plan was never meant to pay for small everyday occurrences, such as runny noses or sore throats. Health insurance was established and created to insure against catastrophic events.  Because of this and due to rising costs of healthcare, the plans of yesteryear, where you paid a small monthly premium and after a $500 to $1,000 deductible your medical bills were covered at 100 percent, are becoming more and more obsolete.   Fewer companies are offering such benefits to their employees; however, medical costs are on the rise.  This leaves families with higher out of pocket expenses for initial care.