Health insurance (NHIA/HMOs)
Understand why nHIA vs HMOs: NHIA is the government-administered scheme — historically underfunded and limited in coverage, but expanding.
In this lesson
Health insurance (NHIA/HMOs) is part of Insurance and Risk Protection. This preview shows how financial-independence connects to everyday family decisions such as earning, saving, spending choices, goals, approvals, or parent-guided money conversations inside Progress Penguin.
Today’s money mission
Imagine this situation: An HMO plan costs 120000 in local currency/year. In that year, you have a malaria episode (25000 in local currency), a dental issue (40000 in local currency), and a minor surgery (300000 in local currency) — all covered. Was the insurance worthwhile?
How it works
NHIA vs HMOs: NHIA is the government-administered scheme — historically underfunded and limited in coverage, but expanding. Private HMOs (Hygeia, AXA Mansard, Reliance HMO) offer broader networks, better facilities, and more comprehensive coverage at higher premiums. Many employed Nigerians have HMO coverage through employers; self-employed individuals must buy individual plans.
Apply it to a real decision
Real-life money moment: You are 17 with no health insurance. You have 200000 in local currency in savings. Estimate the financial impact of: (A) malaria requiring hospitalization (80000 in local currency), (B) appendix surgery (600000 in local currency), (C) road accident (2000000 in local currency+).
Activity preview
Connect the ideas
Use the lesson to complete this short practice activity.
Quiz preview
Health insurance protects you against:
An HMO plan costs 120000 in local currency/year. In that year, you have a malaria episode (25000 in local currency), a dental issue (40000 in local currency), and a minor surgery (300000 in local currency) — all covered. Was the insurance worthwhile?