The exorbitant price of health care delivery is the fundamental principle under which health insurance is built. This is just as Dr. Amooh of CEO of Acacia Health Insurance Company puts it in an interview with Ghana Talks Business,
“Health care is expensive” irrespective of financial status.
Dr. Dan Armooh
For this reason, health insurance came into play. To relieve the burden of expensive health care. A good reason why every Ghanaian needs health insurance.
Dr. Amooh explained how health insurance works. He mentioned that contributions/fees paid by patients or individuals aren’t necessarily for the service rendered but to a larger extent,
“it actually goes to pay for those who are in charge of the healthcare systems and the structure of the healthcare system amongst others. Should the healthcare system become a “needs-based way of accessing the service, a lot of us will not be able to get access to healthcare.”
Dr Dan Amooh
Being in good health is being in a state of physical wellness, psychological wellness, and social wellness as well as restoration to full health in periods of a health crisis. It takes some form of investment to keep your state of good health. One such investment is health insurance.
Health insurance creates a premium “an amount that any individual who wants to access healthcare would have to pay”. This premium is low enough, such that the average person can afford. Once the premium is paid, it goes into a pool of funding available that others can also access who contribute to the insurance scheme, Dr. Amooh explained. The health insurance policy thus becomes a vehicle by which one can access good health care at a fraction of the cost.
Even for the high-earning affluent persons who can afford to pay for their medical bills, there have been times when such persons just are not able to afford any more. This particularly happens in situations of prolonged sicknesses. This is where health insurance kicks in.
Your most valuable asset
Ghana’s National Health Insurance Scheme is deemed the biggest revolution in the healthcare system under the John Kufuor administration. The National Health Insurance System sought to eliminate the “cash and carry system” of healthcare delivery in the country of which it did.
NHIS thus became the fresh breeze that soothed many who faced difficulty in affording healthcare delivery in the country. Private health insurance providers such as Acacia Health Insurance Limited are presently sharing in the role of the NHIA, to provide essential health insurance to individuals and corporate institutions.
Dr. Amooh, in his interview, explained the most important reason why health insurance is your most valuable investment asset. Ill-health has the potential to create a huge financial burden when we are not covered by any form of health insurance. The financial burden could arise from lost income due to reduced or complete inability to make income. This is in addition to the potentially high medical bills one is saddled with. This can take a toll on any individual and family. Without the ability to pay for your medical bills, you are faced with the reality of the struggle for your health.
Health insurance, therefore, protects you from facing such financial burden during that moment of medical crisis. Hence the reason why every Ghanaian needs health insurance.
