Importance of Health Insurance: Incase you get sick or need any kind of medical attention. Can you afford to pay for a doctor’s visit without insurance? Depending on the type of doctor and practice it can cost from www.lifethenfinance.com 2 $95–$265 per visit. Insurance co-pays: $5–$50 per visit. Are you certain you won’t hurt yourself or catch some type of cold? Do you have allergies, wear contacts or need any other type of regular prescriptions? Can you afford those medications without insurance? On average prescription generic medications start around $50. Insurance co pays usually around $5–$20.
2. Importance of Health
Insurance:
Incase you get sick or need any kind of medical attention.
Can you afford to pay for a doctor’s visit without insurance?
Depending on the type of doctor and practice it can cost from
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$95–$265 per visit.
Insurance co-pays: $5–$50 per visit.
Are you certain you won’t hurt yourself or catch some type of
cold?
Do you have allergies, wear contacts or need any other type of
regular prescriptions?
Can you afford those medications without insurance?
On average prescription generic medications start around $50.
Insurance co pays usually around $5–$20.
3. Health Insurance:
Paying health insurance premiums can seem like a waste of
money especially for those that are healthy.
However having health insurance will protect you from sky-high
medical bills if injured or if you experience a sudden illness.
It is tempting to think, “I’m young and I never get sick,” and
not to take health insurance if you have to pay for it.
Don’t do this. You may be young, but you can break your leg
snowboarding just as easily as anyone else.
Any catastrophic accident or illness could lead to bankruptcy if
one is does not have insurance
It happens to a lot of people each year. Don’t be one of the 47
million uninsured Americans who play Russian roulette with
their health and finances.
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4. More about Health Insurance:
Most employers provide health insurance but you
have to pay a certain amount of the insurance
premiums through their paycheck.
Health insurance is a form of risk management
that individuals use to protect themselves against an
unpredictable health loss.
An insurance policy is a contract between an
individual and an insurance company that transfers
that loss from the individual to the insurance
company for a fee.
All policies are not the same and should be reviewed
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carefully.
5. Health Insurance: What you
need to know
Doctor and medical facility availability:
An individual needs to make sure the doctors, hospitals and medical
groups they want to use are contracted with their insurance company.
Premium (monthly cost):
This monthly fee, which is paid by the individual, should be affordable
and the individual should be able to maintain that premium over a
period of time within the individual’s budget.
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Deductible:
The amount that the policyholder must pay out-of-pocket before the
health insurance plan pays its share.
Co-payment:
The amount that the insured must pay before the health plans pays.
This is a lot like a deductible but is applied to individual services, which
are usually waived from the deductible (except for prescription drugs).
6. Health Insurance: What you
need to know…. Cont….
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Exclusions:
Not all services are covered in some plans. A lot of new plans
do not have coverage for maternity or brand name prescription
drugs. These exclusions can lower premiums.
Out-of-pocket maximums:
This is the amount where the policy holder’s obligation ends
under coinsurance and the insurance company pays 100% of
the cost.
Health insurance policies can be very confusing.
It is best to find an insurance agent who specializes in this kind of
coverage and meet with them to review the details.
Insurance plans are no more expensive using an agent than
going direct.
7. Medical Bills
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Fact:
Medical bills are the leading cause of
bankruptcy and these bills can be
avoided by having medical insurance.