Health insurance is often seen as an expenditure that can’t be met and is put off and put off until something happens and you suddenly find you need it, by which point it’s too late to organise anything and any expenses and costs incurred will be much higher than any monthly payment plan would have been.
At any time of our lives, but particularly as we get older, it’s important to take care of your health with regular check ups, first to ensure you’re in good physical condition and second to catch anything irregular before it becomes too serious. If you don’t have health insurance, then treatments, medication and medical procedures will end up costing you a lot of money.
The main reasons people cite for not taking out insurance against sickness or accidents is generally down to the high monthly premiums involved, but when you calculate the risk you’re taking if you should have to go to hospital for treatment then the cost overall is a lot lower than the hefty hospital bills and medical expenses sure to throw you heavily into debt.
Most working people get their health insurance supplemented by their employer which makes it affordable, knowing you and your family are protected puts your mind at rest and makes life a lot less stressful. However for those who are unemployed or don’t have any insurance every day is a worry, carry out some research into the various types of health plans available as there are lots of options that are affordable to those on a low income.
How much you pay for health insurance comes down to a number of elements, including your age, current health record, and how you live your life. For example, if you are a 50 year old who smokes and drinks heavily then your policy will be a lot more than a 25 year old keep-fit fanatic with a clean bill of health.
As well as premiums differing for each individual there are also varying levels of coverage available. If you want to protect yourself against any eventuality and have dentist and doctor bills included then the monthly payments will be much higher than just being covered for the minimum. Study the various policies at your own pace and decide which plan and amount of coverage suits your lifestyle and needs and is affordable on your income.
Health plans can also include other elements, such as check-ups, prescription charges and visits to the dentist and opticians, depending upon how flexible your budget is. A specialist can advice and help you come to a decision on the best policy, they have the knowledge to find the perfect plan for your lifestyle and the ability to answer any questions.
Families in financial trouble are opting for catastrophic coverage health insurance which allows them to pay only the most basic premium each month, this means that they can still receive benefits should there be a big medical expense to pay but anything else, such as routine doctors’ visits and prescriptions are not covered and they have to pay themselves.
Insurance companies manage to keep monthly payments low by attaching high deductibles to the premiums, these can be anything starting from $500 and $1,500 and more. Many low-income families don’t have a lot of savings and this amount of money can be difficult to get hold of in an emergency, so if you are opting for a catastrophic plan then you should aim to have your deductible put aside in the bank where it can be held until needed, as the insurance company won’t pay anything out until the deductible has been met.
Find out more about catastrophic health insurance cost and what it covers by searching online where all your questions are answered.