Why is it that so many people are so unhappy with their medical insurance. There are many reasons for this, but the most common reason is because they did not do their homework in order to get reliable medical cover. The information in the following article will help you to not make health insurance mistakes.
To defray the cost of medical expenses, you should carry health insurance. Even though you may have a savings account, medical bills can still wipe you out financially because they are often much more than any cash you may have on hand. For instance, an appendectomy can cost as much as Kshs. 200,000 and heart surgery can be as high as Kshs. 4,000,000, depending on what you’re having done. These are expenses that would have to come out of your pocket, if you don’t have insurance.
To save money on medical insurance, one strategy is to pool your resources with a group of people. Doing so lets employers offer cheaper insurance to their employees. If you’re on your own, you may be able to take advantage of these savings by forming your own group or joining an existing one.
No matter what, make sure you have some sort of medical cover. The bills that pile up from an emergency when you don’t have insurance, can cause you to go into bankruptcy or spend the rest of your life paying for one accident or health issue. The cost of uninsured medical bills is too high to risk. Get coverage no matter what.
If you and your spouse are both eligible for medical insurance through your individual workplaces, compare the two policies to see which one will benefit your family most. You may find that it is going to be cheaper to carry individual policies through your workplaces. Keep the surcharges that some companies charge for dependents when comparing the two.
Be sure you regularly assess your medical insurance needs over time so that your coverage accurately reflects what you need now. For example, young single adults without children generally have lower healthcare costs than adults with families.
If your medical insurance comes via your employer, you clearly don’t have much choice about who insures you and your family. You do, however, have some choices about what options you want. Be as active a consumer of your healthcare insurance, as possible. Take the time to understand the philosophical and actual scope and benefits available in your medical cover. You need to be armed with this information, in order to make smart decisions about your healthcare insurance.
There are various companies offering various medical insurance products and one should study these products to have an understanding on the covers with the widest scopes. This will also ensure that you get the best cover in the market.
As was stated in the beginning of the article, the main reason for people not being happy with their medical insurance is because they are not educated on the subject. In the above article, you were given information that will improve your health insurance knowledge and hopefully help you to get the best coverage policy.
Article by: Joseph Ndung’u B.com, AIIK