No one plans to get sick or hurt, however, most people need medical care at some point. health insurance isn’t cheap and it will be tempting to go without health insurance. With the expensive monthly price and due costs, you will be wondering if you really need health insurance.
“Being fit and healthy can’t guarantee you won’t get injured, suffer an accident or medical emergency,” David says. “Health insurance protects you financially for all types of situations – from having your tonsils removed, breaking your arm or leg or sports injuries. It additionally reduces wait times for many types of treatment and offers you the choice of your preferred doctor or physician.
Most people cannot afford to pay the high cost of health care on their own. That’s where health insurance comes in. You pay a premium monthly, and your insurer pays for a little of the covered medical costs. The insurance company could also be ready to negotiate better rates from the doctors and hospitals. so instead of paying many bucks in out-of-pocket costs for a doctor visit, or thousands for a surgery, you pay a lesser amount depending on your plan.
Since Health insurance is a contract between you and your insurance company. once you get a plan, the company agrees to pay part of your medical costs when you get sick or hurt.
Health Insurance Will Help You Stay Healthy.
Many people consider health insurance as something you use when you’re sick, however, it’s far more than that. you can benefit from the preventive services your plan offers. By visiting your doctor often for check-ups and getting your recommended screenings, you’re more likely to prevent more serious conditions later on. Plus, many health plans offer wellness programs and discounts on health products and services.
Medical Emergencies Will Bankrupt You If Do Not Have Insurance.
The reason is that medical emergencies are high-priced. If you’ve got a medical emergency without insurance, it’s easy to find yourself with a crippling amount of medical debt, and apparently no way out of the mess. One accident on the incline could cost you thousands of dollars in medical bills, and it will quickly climb higher if you need surgery or anytime in rehabilitation. Generally, that’s a time when you won’t be working either, which implies that you will lose money that way, as well. Emergency surgeries like an appendectomy will be very expensive as well.
Even with insurance, you will realize it difficult to pay for health care costs in these instances. it’s very laborious to procure medical prices without health insurance, particularly if you’re checked into a hospital even just overnight.
Why You Need Health Insurance.
There are good ways to save cash, however, skipping out on insurance isn’t one of them. Studies show that uninsured people don’t receive the same quality or quantity of preventive care those with insurance enjoy and may be putting themselves at greater financial risk than their insured counterparts.
Insurance Can Seem Expensive, However Not Having It Will Cost Much More:
How many people do you know with heart disease or who have had a heart attack? have you ever thought of what the price would be to have open heart surgery? the answer, according to the financial website, Investopedia, is roughly $324,000. now imagine adding that amount to your monthly bills. an average mortgage payment for that amount would be over $2,000 a month —and that’s just for one procedure. Compared with the actual cost of care for any serious condition can make monthly premiums appear much more attractive.
With No Health Insurance, You Risk Liquidation.
You may be healthy now, but the onset of a sudden or serious sickness (cancer, diabetes, appendicitis) or a traumatic event (ski accident, car crash) will leave you with staggering medical bills. the shortcoming to pay high medical bills, one of the most common reasons people file for personal bankruptcy, can ruin your credit history and set you back for years.
Health Insurance Claim Process.
A health insurance policy equips you to get the best healthcare treatment without concern regarding the large costs payable at the time of discharge. so, knowing about the claim process is an important piece of information that the insured individual should be aware of in any respect times.
The two main types of an insurance claim that an individual will choose from when making a claim are:
Cashless Claim Process.
When the insured individual provides their health insurance details to the respective hospital, he/she begins to receive treatment. Upon discharge, the hospital can forward the medical bills to the designated health insurance company. the company can then audit the expenses and settle the outstanding payment to the hospital. This process is hassle-free for the insured as the payments are between the hospital and insurance company. Just walked out of the hospital like a boss.
Reimbursement Claim Method.
In the reimbursement claim process, the insured individual who has been admitted to a certain hospital pays for the entire treatment until discharge. Once the insurer has got the treatment and hospitalization costs incurred, he/she have to make a reimbursement claim to the particular insurance company. The insured individual can get to give original bills of the hospital to the health insurance and claim reimbursement. The insurance company will audit the claim and will then decide to approve or reject it. On approval of the insurance company, the claim will be created to the policyholder. The insurance company can notify the insured individual in case the claim has been rejected.
