The best thing in America is free health care. Health insurance is one option that could provide this for you. Given the way healthcare costs have risen; many families have gone bankrupt paying the bills for a sick person in the family. Some are lucky enough to have health insurance coverage, either from an employer or covered by a parent’s or relative’s health insurance policy, others are not so lucky.
Well, what do you want to choose; a health insurance policy that sounds like a bad investment or paying all the bills yourself. A quick look at a health insurance policy seems like an unaffordable luxury unless someone gets sick and you have to pay all the bills. Medical bills can go far beyond the monthly premiums you pay. Looking at the big picture and planning with that in mind is not a bad investment. If you were to be injured in a car accident, insurance can go a long way toward the bills and even the savings you face when you have to take leave.
Thinking that doctor bills are paltry compared to the premium will get you nowhere. Be prepared for large means of spending; purchase the appropriate health insurance policy.
o A low copay or deductible would result in higher premiums. This would also mean that your insurance pays each time the bill exceeds the copay amount.
o A higher copay or deductible would result in lower premiums. Just look at the maximum amount you would have to pay. If that’s okay, then this policy is an ideal option and would mean that unless the bill is high, the insurance would pay for it.
If you’re very short on money, get an affordable plan so you pay little for coverage. You would have to pay for your routine visits to the doctor. This is much easier than having to pay a hefty bill for health care costs. The positive points of going for regular routine checkups will save you from sudden and expensive treatment. You are regularly examined and can therefore avoid any major health problems and stay fit and healthy.
Are there other options?
If you’re smart enough with your money, you could save money and get tax deductions. The Health Savings Account or HAS allows you to deposit a small amount each month into a bank account dedicated to health services. To take advantage of this plan, you must be covered by a High Deductible Health Plan (HDHP). The money you save on premiums (if you take another plan) could be put into your health savings account (tax-free) and you could also get the high-deductible health plan as insurance against unforeseen eventualities. This saved money is thus combined with an insurance plan to maximize benefits.
Travel insurance and group health insurance are options you can choose because these are the most likely scenarios when accidents happen. When you travel or when a group goes on vacation or camping. This is in case your health insurance coverage is too low.