Why is HMO Plan important in Nigeria

HMO Plan: Why It Is Important to Have One In Nigeria

Why It Is Important to Have HMO Plan In Nigeria


You’ve overheard individuals discussing HMO plans. Some have emphasized why it is important to have a good health insurance plan in Nigeria. But, you may feel as though you don’t know anything about it. That’s OK since, to be honest, it may be a perplexing issue.


But, like other things, health insurance is simple to understand and grasp the fundamentals of. Hence, the best health insurance company in Nigeria is here to assist you with Health Insurance 101.
So, let’s have a look at some questions together. What exactly is health insurance and how does it work? And do you need health insurance?

Why is health insurance important in Nigeria
Why is health insurance important in Nigeria

What Exactly Is Health Insurance?


According to NHIS, health insurance is a method of paying for medical expenses and health care expenditures. Most people are unable to pay for all their healthcare expenses out of pocket.
Your health plan can help you pay your medical expenses and get the treatment you need. There are different types of health insurance: private and government-run. There are several types of health plans or policies.

The government manages some plans. Private health insurance policies are also available. Many people receive private health plans and benefits via their work. Self-employed persons get private health plans as well.
In the case of commercial health insurance plans, you generally pay a monthly premium to the health insurer. While in the case of government-run health plans, there is no monthly payment.

How Medical Insurance Works


When you have health plan, your medical costs are paid first by your insurance company. Then, depending on the terms of the plan, they pay for a part or all the cost.
In some ways, health insurance is like auto insurance. If your automobile is in a serious accident and requires extensive repairs; or it must be replaced altogether with a new car. Car insurance will cover part or all the costs.


That’s a good thing. Because the expense of repairing or replacing your vehicle might exceed the amount you have in your bank account.
Your health plan, covers more than the costs of a severe accident, unlike vehicle insurance.
Annual exams, vaccines, preventative health, and other “regular maintenance” for your body and mind. These are covered by your HMO company. It’s as if auto insurance paid for oil changes and tire rotations.

Why Should I Buy Health Insurance?

There are two general reasons to get an healthplan:

  • If you become ill, your health plan will cover you.
  • Your health plan can help you prevent being ill in the first place.

Let’s take a closer look at each of these reasons:

  • As a Safety Net

As a safety net, This is very essential. If you become ill or injured, your HMO can assist cover expenditures. Especially when you may not be able to handle it on your own.

Why is HMO plan important in Nigeria
Why is health insurance important in Nigeria

Health-care costs might be exorbitant. It may be a huge financial strain. Surgery, emergency treatment, prescription medicines, lab work, scans, etc.
These expenditures may mount up. They can even be so costly that people become bankrupt or refuse care that they need but cannot afford out of pocket.


But, with the right HMO, you are not faced with these expenditures as an individual. There is an insurance plan assisting you in covering the costs and navigating the complexities of medical billing.
Let’s face it: you don’t want to be dealing with medical expenses while you’re sick, wounded, in a hospital bed, or the emergency department. It’s wise to make difficult financial decisions ahead of time, such as purchasing the right Health plan before becoming ill.

  • Illness Prevention: Another reason why having this is crucial is that it makes it simpler to avoid being sick in the first place.
  • Annual examinations

Immunizations (flu shots, MMR, etc.)
Blood testing and laboratory work
Screenings and scans

All of these things contribute to your overall health and the prompt diagnosis of any illnesses you may have.
Furthermore, health plans assist in covering the costs of managing any chronic diseases you may have, such as diabetes, heart disease, or depression.

For these types of diseases, health insurers generally provide disease management programs. They can also refer you to professionals and other resources that can assist you. It will be easier for you to remain on top of things and stay healthy as a result of this.


Routine and preventative treatment is especially crucial when it comes to children. Children, babies, and pregnant women all require routine medical care to stay healthy and thriving. Early intervention reduces future issues and can even save lives.
It’s not just about physical health: most HMO plans include mental and behavioral health treatment as well.

Why It Is Important to Have Health Insurance In Nigeria
Why It Is Important to Have HMO In Nigeria

Is it Possible for Me to Afford HMO?


Monthly payment is usually required to enroll in a private health plan. At wellness healthcare, we have monthly plans for as low as N2,800. You are more likely to be able to afford health plan than you are to be able to pay for a surgery, illness, or emergency room visit out of your own money.


What if I don’t become ill? Don’t I Make a Loss?
If I sign up for HMO and pay my monthly premium, but I don’t get sick and don’t get any health treatment, then I’ve lost money,” you may be thinking.


But that’s not entirely correct.
To begin, there are many HMO advantages that you may use. Even if you are not sick, like vaccines and checkups, they can help you stay healthy in the long run.
Second, even if you don’t get into an accident, have big healthcare expenditures, or need to use your healthcare benefits. You’ll have peace of mind knowing that if you became sick, you wouldn’t have to bear all those medical costs on your own.

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