No, all health insurance is not the same, in spite of what some may think. The difference in plans can make a significant impact in the amount of money you will need to pay out of your pocket. In addition, the health insurance plans may have extreme coverage differences without a big cost differential.
A good example is to look at two local large insurance companies. They are both nationally recognized and their products are available nationwide. The two main insurance packages are similar with some differences. Company A offers 100% on emergency room visits and 10% copay on doctor office visits. Company B has a plan which has a $125 copay for emergency room and $25 for doctor office visits. Due to no caps on the percentages so there is a possibility of owing more money under Company A due to the percentage costs for doctor visits if there are many treatments, but it could be less cost.
Now, you may be asking yourself, why have insurance if I am going to have to pay so much anyway. The important thing to remember is your health insurance is an investment. You are banking on the fact that you health will be fine, but if it isn't, and you wind up having a disease that requires years of treatments, well then you will be glad you have an insurance plan to cover you.
The reality is one admit to a hospital could cause a financial meltdown. This is the reason to acquire health insurance as a protective financial blanket around you and your family to guard your assets. Don't forget, even if it's something minor, hospital bills can be expensive. These bills, if not paid on time, could cause wage garnishment, foreclosure and maybe bankruptcy.
If you are a hard working person whose wealth is growing, then make sure that your insurance coverage is growing with you. You need to have a good solid health insurance plan, that will cover you for as much as possible. Also, watch out for lifetime maximums, this can be one area where the insurance company can get you if you get seriously ill.
A good example is to look at two local large insurance companies. They are both nationally recognized and their products are available nationwide. The two main insurance packages are similar with some differences. Company A offers 100% on emergency room visits and 10% copay on doctor office visits. Company B has a plan which has a $125 copay for emergency room and $25 for doctor office visits. Due to no caps on the percentages so there is a possibility of owing more money under Company A due to the percentage costs for doctor visits if there are many treatments, but it could be less cost.
Now, you may be asking yourself, why have insurance if I am going to have to pay so much anyway. The important thing to remember is your health insurance is an investment. You are banking on the fact that you health will be fine, but if it isn't, and you wind up having a disease that requires years of treatments, well then you will be glad you have an insurance plan to cover you.
The reality is one admit to a hospital could cause a financial meltdown. This is the reason to acquire health insurance as a protective financial blanket around you and your family to guard your assets. Don't forget, even if it's something minor, hospital bills can be expensive. These bills, if not paid on time, could cause wage garnishment, foreclosure and maybe bankruptcy.
If you are a hard working person whose wealth is growing, then make sure that your insurance coverage is growing with you. You need to have a good solid health insurance plan, that will cover you for as much as possible. Also, watch out for lifetime maximums, this can be one area where the insurance company can get you if you get seriously ill.
About the Author:
Medicare is the national health insurance for people over 65. Visit gohealthinsurance.com for all your health insurance quotes. Let their specialists find the perfect plan for you.
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