| Personal health insurance |
| Written by Samantha White | |
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There’s no doubt that good health is every human being’s most valuable asset. When asked what people wish for most, the answer is often answer “good health”. For anyone who has been really ill or suffering ongoing pain, everything else in life pales into insignificance - your home, your car and your possessions mean nothing. They are all worthless if you don’t have good health. Money is important, but without your health, what good is it? Why then do we neglect our health so often? Medical bills are the cause of more than half of all personal bankruptcies in the United States. And even those who are extremely conscientious about their health can still be afflicted with diseases, or injured in freak accidents. Americans in their twenties and early thirties are the least likely of any age group to have personal health insurance . When you are self-supporting and no longer covered by your parents’ health insurance, this extra expense may seem unnecessary to a young person. However, just because you’re young and healthy doesn’t mean you’re not at risk of illness or injury. Perhaps it’s time to change your mind and start making some inquiries about personal health insurance. Doctor’s visits and prescription drugs are not the only reasons for personal health insurance. If you’re in an accident and need surgery, or specialized treatment, your health insurance will cover these expenses. Health insurance comes in a variety of types and, despite the fact that some plans are expensive. There are many less expensive options to choose from. You will find a policy that gives you adequate health insurance cover without being a burden on your pocket. If you are single, young, fit and in good health, probably the best personal health insurance for you is a simple plan that covers you in the event or an accident or unexpected illness. For families however, the cover should include everyday medical care, i.e. visits to the doctor, dentist and medications. Most personal health plans come with comprehensive cover; this means that the insured person pays a monthly premium and the insurance company pays the costs of treatment, after deducting co-pay. Co-pay is the amount the insured person pays towards the medical expenses. Types of medical health insurance plans are countless, and there is a multitude of companies offering individual packages to the public. So how does one go about selecting the right plan? The best way to start is by doing a research on your state's health insurance web site. A good site will list companies available in your area and provide the price of personal health insurance, including the cost in your state. Before making a final decision, do a check on the credentials of the company you intend to use. Find out about the process and filing a claim, and how quickly claims are processed. Monthly rates depend on your age, gender and whether you smoke or not. For new clients, insurance companies usually implement a waiting period before the policy becomes effective. Doing a research online will provide you with all information. If you purchase a policy from a company that brags of its low monthly premiums, you will usually pay a greater share of the medical expenses when you are sick or injured. So be on the lookout for these offers, and ask a lot of questions. To qualify for personal health insurance you will need to answer an in-depth health questionnaire and have a medical examination to establish what kind of risk you are to the insurance company. Never withhold any information or answer questions untruthfully. If you lodge a claim and the false information comes to light, you will not only have the claim rejected, but your policy will be instantly terminated, and you will have to cover all expenses on your own. Other types of health insurance include HMOs (Health Maintenance Organizations). These are the most affordable health plans and offer comprehensive coverage. HMOs are essentially a network of doctors, hospitals and specialists whose services are used by people covered under this type of insurance. A PPO (Preferred Provider Organization) is also an affordable individual health plan that allows you to select the medical practitioner of your choice. Then there are HAS (Health Savings Account) plans. These provide low-cost cover for specific events such as death, fire and flood. Personal Health Insurance is designed to protect you and your family in the event of the unexpected, whether it’s sports or accident injury, an unexpected illness or even a visit to the doctor to relieve the symptoms of a common cold. And it’s not expensive as you think. |
