People have lots of misconceptions regarding health insurance policies. This article discusses about 4 health insurance myths and facts you should be aware of.
You may think that spending your hard earned dollars on a health insurance policy is a stupid idea. You can very well use that money for investing in a stock market or purchasing an auto insurance policy. Though there are myriads of ways to spend your money,
yet it is possibly the dumbest idea to not purchase a health insurance policy. If you can spend your money to insure your vehicle, then there is no justification in not insuring your health. After all, it is the most precious asset of our life.
Read through the article to know about 4
health insurance myths that are still alive in the minds of people.
Health insurance myths prevailing in the minds of people
Here are the 4 health insurance myths that are still alive in the minds of people:
1. Insurers work for profit and this is why policies are costly
Insurers are here for business. They want a good return of their money. But this is not the reason why health insurance policies are so costly. These policies are expensive as the health care cost is very costly.
A lot of people think that the Medicare plans are less costly than the private health insurance plans. But this is not true. Sometimes, people have to pay more premiums for the government health insurance policies when there is a sudden shift in an economic policy. For example, the premium rates of the government health plans are increased when there is a sudden increase in the medicine costs.
2. You don’t need a health insurance policy if you are fit
You have a perfect health and so there is no need to purchase an insurance policy. This is one of the most common health insurance myths prevailing in the minds of the people. But are you absolutely sure that you won’t meet an accident in future? It may happen that you break your hand while playing basket ball. You may need to undergo an operation and stay in the hospital for several days. In such a situation, you will have to bear the hospital cost all alone. If the medical bill is too high and you can’t afford to repay it, then you can get into serious debt problems in future.
3. Big companies provide employees with insurance policies
Some of the big companies provide employees with health insurance benefits. But it should be kept in mind that not all the big companies offer this kind of benefits to the employees. The number of companies offering health insurance plans to their employees has significantly decreased in the year 2010.
4. It is not a wise idea to go for individual plans
Most of the people prefer to go for employer’s group health insurance plans. They think that individual health insurance plans are quite expensive. But this is not always true. It is said that a steady rise in the cost of the employer’s group health insurance plans has been seen in the last few years. A lot of employers have been forced to reduce the benefits due to the rapid increase in the premium rates. Apart from that, the employers are required to follow the state health insurance laws by any means. This implies that you’ll have to take up the coverage you don’t even need.
However, if you go for individual health plans, then you can purchase the coverage as per your needs. You can purchase coverage as per your health condition. You won’t have to spend extra money for the coverage you won’t even require in future.
Finally, a lot of people think that the maximum number of uninsured people is below 25 years. Well, this is not exactly true. Statistics reveal that the most of the uninsured people are between 30 and 50 years.
