RE: The National Health Insurance Scheme In Ghana-Finance Video

The government hospitals covered by NHIS almost always give you the same set of drugs regardless of what sickness you’re suffering from.

For this one I can also testify to it. But if you’re fortunate to get a doctor who doesn’t want you to suffer he or she will prescribe the drugs and tell you they don’t have it so you’ll need to get it else where at your own cost.

I have a question about insurance in general though. If you never run into a situation where insurance company has to come to your aid, is there a certain amount you’ll contribute up to and stop?

In general these insurance companies run it like a business. As you know it a business is a risk and if you never make a claim it means that money belongs to the company.

The companies don’t just put the money down when they take them. They use them for other things like investing to make profit and all.

Your money if not claimed is calculated as profit in the long run. So to answer you question; nope you don’t get your money back.

I also want to understand exactly how the insurance company benefits. I don’t think I understand properly yet.

Everyone in business will come out and say oh am trying to help you. I’ve seen you suffering so let me help you but in actual fact they are trying to get your money. In some cases you get quality and some cases you are ripped.

In an insurance sense you are paying monies for your future which you might never even need. Not everyone files for a claim and in the long run that money is theirs.

They also invest the money policy holders bring in other things which return profits.

Overall when you are in deep shit they only cover for part of the cost not all.