What Is The History Of Health Insurance?

It was Hugh Chamberlin in 1694 that brought the idea of health insurance in to play. Around the 1880’s, people buoyed the accidental insurance which busted out to be a blessing in disguise for those who got injured in accidents.

Earlier health plans offered compensation only when the victim suffers from an injury during accident. However at that instant of time the persons were prone to more injuries which were related to some other circumstances, therefore it helping in preparing the people for some more comprehensive types of plans which were installed later by insurance companies.

Around 1847, the Massachusetts Health Insurance of Boston was the first who offered the first scheme policy with comprehensive benefits. By the time of 1890’s there were individual policies setup by insurance companies which covered everything related to injuries and accidents to diseases and sickness

Health Insurance during the course of war:-

There were no group insurance plans by the time of start of 1929, until when it was decided by some group of teachers to create their own plan. They worked together by doing a deal with Baylor Hospital in Dallas, Texas. There they were paid monthly salary in exchange with some recovery care and medical attention whenever it was needed by any member of the group. Then there were subsequent designation of the blue cross health plans. These health plans were specifically negotiated by some doctors and local hospitals. There were discounts provided to the plans holders and this entire plan succeeded quite well.

It was almost around the 1940’s when there was a need to think that more than these health insurances were necessary. There were people who couldn’t pay off their monthly fees but still they were in need for having protection afforded by insurance. This was the term when the employee health insurance gained popularity and become common among them. The employers negotiate a deal with their workers while they were working in specific workplace; you were covered by their health plan.

Along the term of the Second World War, there came a wage freeze .no individual was offered higher salaries; this made it almost impossible for the company to lure the best worker. Before the Second World War ended in 1945 there were around hundreds of businesses who offered health insurance if someone works for them in exchange.

In 50’s and 60’s government took interest in social security and health care and there came disability insurance around 1954. Ultimately there came Medicaid and Medicare around the 90’s.