Reason to Have Medical Insurance
We come across many people failing to realize the need for them or their family members to have any kind of medical protection because it is simply too expensive. The fact is that cheap health insurance medical coverage can be found and it is important for every family to have it.
If a person does not have any form of insurance, the actual costs for visiting a physician or going to a clinic could be much higher than one would imagine. The major medical insurance companies know this and hence they bargain with the health care providers to get a better price for many of their policyholders. This can be considered a bulk rate discount for medical treatment.
The individual paying for the visit out of pocket will know that they are paying much more compared to the insurance companies which are not feasible because the individual typically has less money to spend on one visit than the insurance company does. While the cost for private medical insurance and cheap health insurance medical coverage may be high, it is not as high as the cost of a doctor’s visit and the subsequent tests and medications can be for someone who is uninsured.
Medical and health cover should be researched and looked into at the earliest. This will enable you to understand, identify and invest wisely, according to your individual case. The investment in Major Medical Health Insurance is a series of premiums for a fixed period, which is calculated on the basis of the age and the risk factors involved in the case of the insured. Ideally, you should opt for a policy that has the benefit of a 24-hour emergency service. In this case if an accident or illness occurs, everything is taken care of by the company. They make all the necessary arrangements, provide help and advice.
January 18th, 2011 at 1:45 am
With healthcare rates reaching new heights, finding yourself ‘without’ a medical insurance can be big shock. When you make ‘health is wealth’ your success formula, insurance definitely becomes one of the best investments.
January 18th, 2011 at 4:49 am
it can be a very difficult experience to have an health problem and be left without adequate finances to adequately treat it. I have therefore prioritized health insurance to guard against any unforeseen eventualities. The peace of mind is worth more than the low premiums you would end up paying.
January 19th, 2011 at 11:43 pm
I have certainly got a medical insurance for myself and my family as I believe it acts as an safety net in time;s of need. I got a great deal on a ‘family package’ and i am relieved that in case of any medical misfortune befalling me or my family, there wont be a hassle on raising the funds required for taking care of it. I would advice everybody who reads this to get a medical insurance for himself and his family…
January 20th, 2011 at 3:30 am
No one can be ensured in being pink of their health most of the time. It would be catastrophic, if a serious health issue arise in your family and you are found short of money for visiting health care and clinics. Hence Medical Insurance becomes a mandatory requirement today!
January 21st, 2011 at 12:35 am
Medical Insurance helps you and your family to incur untimely health expenses. A small amount of premium is worth paying rather than putting everyone health’s into a jeopardy!
January 21st, 2011 at 4:20 am
After one of my good friends had an horrible accident, i saw the value of having a good insurance plan in effect. His all injuries and extraneous injuries took an hard toll on him both mentally, physically and financially. So i would like to appeal to all my friends to ensure you have a proper medical insurance in place.
January 23rd, 2011 at 11:22 pm
As times goes by, it brings numerous illnesses and disease, some curable some not. With it comes a lot of expenses. A medical insurance helps you sustain even basic expenses like an ambulance, clinic fees etc.
January 28th, 2011 at 3:07 am
We spent an appreciable amount of our hard earned money on vices, lifestyle and unnecessary credit bills. But when it comes to paying short amounts as premiums for our medical insurance, we crib. After all, if we can’t take care of our health if something happens to it, what is the use of that money?
February 2nd, 2011 at 11:17 pm
It was medical insurance which financially helped my dad to undergo a major surgery, few years ago. What we pay as premium every tenure ultimately is useful to us only!
February 9th, 2011 at 12:54 am
I completely agree with Arianna , the medical expenses have gone high , and the medicines are damn lowering the natural immunity level of humans …. Thousand of flu and viral are around , medical insurance is so must. And its not only a persons responsibility but even company should take a charge to give medical benefits to their employees and their dependents… Many MNC company’s are offering….. Frankly speaking people actually neglect but yearly health check-up is very essential…
February 13th, 2011 at 11:17 pm
A medical policy is an essential product to be considered in managing risk in lives. Anyone can be a victim of critical illness/dread disease and it can happen at the most unexpected time and the person can be in deep trouble, not knowing what to do and whether something can be done about it and if so, how much it will cost. & the victims dependents needs to suffer from the stress due to lack of knowledge & financial instability.
February 25th, 2011 at 11:12 pm
I have heard that “If you or your dependents have more health care needs than most people and you only pay an average premium, then you get more from health insurance than most people.”
February 26th, 2011 at 2:52 am
You do not pay income tax on health insurance benefits so it is more valuable per dollar than the same amount in taxable pay.
February 27th, 2011 at 11:34 pm
Health insurance helps to ensure that you and your family are protected against the financial hardships that may result from health care expenses. Without health insurance, you may not be able to afford medical care when you need it. People with health insurance are more likely to go to the hospital before their condition worsens and becomes more expensive to treat.
March 5th, 2011 at 2:10 am
Having health insurance is more important than many people realize. Generally speaking, both people with and without coverage take health insurance for granted. Do yourself a favor and make sure that you never fall into this level of thinking. No matter who you are, it is very important that you always have some sort of health insurance coverage.
March 9th, 2011 at 11:40 pm
Medical Insurance is one of the numerous insurance policies that cater for different type of risks and insurable interests. Should any unfortunate event occur, the financial benefits derived from the policy would definitely be more than adequately compensate the premiums paid. It is best to transfer the risk to an insurance company who has the capability to assume the risk. One can still retain a portion or whole of the risk if the probability of certain risk happening is remote. One has to assess the situation and not fall in the trap of “Penny wise, Pound foolish”. By neglecting or saving on purchasing a medical insurance policy, one is left exposed to high probability of risks occurring resulting in a financial loss that can be substantial.
March 18th, 2011 at 1:24 am
There are limited insurance coverage options available in the market for the aged population in India and unlimited restrictions on coverage. Some companies have a quality coverage, but stringent pre proposal medical checks – some provide a policy without health checks but with large restrictions right-left-centre.
March 24th, 2011 at 12:36 am
It is said that “Having health coverage is associated with better health-related outcomes.”
March 24th, 2011 at 8:35 pm
Uninsured adults get fewer preventive and screening services and on a less timely basis. Shortfalls are documented for many types of illness or condition, including screening for cervical and breast cancer as well as testing for high blood pressure or cholesterol.
March 25th, 2011 at 1:04 am
Health Policy Brief Importance of Insurance private health plans or imposed by public programs.
Until recently, those without coverage were billed full hospital charges, for example.
The low incomes of some patients qualify them for charity care, but others have often been dunned for unpaid bills.
March 31st, 2011 at 9:23 pm
Even if you consider yourself healthy because you don’t ever catch much of anything, you should still buy health insurance to cover accidents or any thing else that may come up.
April 11th, 2011 at 2:49 am
I think, nowadays it’s extremely dangerous and irresponsible towards your family to be without any adequate medical insurance. I agree, it can be a bit expensive, but going without can quickly become much more expensive and even life threatening.
April 28th, 2011 at 11:55 am
As a physician, I appreciate the effort taken here to bring to light the importance of having medical insurance. I’ve seen first hand how damaging it can be to families that neglect to address their insurance situation, until something tragic happens.
May 9th, 2011 at 9:52 pm
Health policies are very necessary in case of critical situations which are very dreadful & these are uninvited guests which just destroy us in no time. I feel every individual should get such policies which are very useful. Also, make sure that these companies also offer certain insurance for diseases for Diabetes too.
May 18th, 2011 at 4:23 am
Having health insurance is important for several reasons. Uninsured people receive less medical care and less timely care, they have worse health outcomes, and lack of insurance is a fiscal burden for them and their families.
May 20th, 2011 at 1:45 am
Having health insurance is more important than many people realize. Generally speaking, both people with and without coverage take health insurance for granted. Do yourself a favor and make sure that you never fall into this level of thinking. No matter who you are, it is very important that you always have some sort of health insurance coverage.
May 20th, 2011 at 3:51 am
So why do you need to have health insurance? First off, you should know that you can get medical help without coverage. But guess what? If you do not have health insurance you are going to be responsible for paying everything on your own. Obviously, that is not something that you want to do. As you can imagine, medical bills can add up in a hurry if something major were to happen to you.
May 22nd, 2011 at 10:02 pm
It is best to transfer the risk to an insurance company who has the capability to assume the risk. One can still retain a portion or whole of the risk if the probability of certain risk happening is remote. One has to assess the situation and not fall in the trap of “Penny wise, Pound foolish”. By neglecting or saving on purchasing a medical insurance policy, one is left exposed to high probability of risks occurring resulting in a financial loss that can be substantial.
May 23rd, 2011 at 3:23 am
A look at the family medical history may be good as some diseases may be inherited. Early action taken to apply for coverage will be recommended as the premiums will be lower and before his health deteriorates so as to render the applicant uninsurable.
May 27th, 2011 at 12:56 am
Having health insurance should be a no-brainer for most Americans, since there are a plethora of reasons to have it, and not ONE GOOD REASON not to have it. Lets start with the most dramatic—late diagnosis of serious diseases, and as a result, higher risk of death. Also, if you do visit the hospital for something fairly serious, you’ll have large medical bills that maybe can’t be paid. Then there is hospitalizations for issues that could have been avoided if you had annual checkups and Dr visits. If you don’t have insurance and go to the ER instead of a family doctor are you receiving the same quality of care? —probably not.
Lastly, if you have a family, and don’t have medical insurance; you are short-sighted, irresponsible individual—in my humble opinion of course.
June 16th, 2011 at 6:33 am
I would like to buy some insurance, but my state does not allow a lot of different insurance companies – only a few. And they are very expensive. I would personally like to know where to find some affordable, even if it is short term, insurance. It is very important to have insurance, and anyone who has had to go to the emergency room to stitch a finger without insurance knows how expensive that can be!
June 21st, 2011 at 6:03 am
I remember, when I was a school going kid, one day I reached home thinking that today I have something new to make my parents aware of. And with full excitement I started explaining my parents the meaning of health insurance and the importance of it. They looked at me and started laughing on me. Then they told me that I was too late to share this with them because they have already taken a health insurance policy for the whole family. I was surprised by this. And trust me it just happened that my mom had to undergo an operation where she had to get the uterus of her stomach because it was troubling her and she had to bear a lot of pain. It’s just because of the health insurance policy that we could manage to get her operated soon. I feel it’s important for everyone to have a health insurance policy
June 21st, 2011 at 10:17 pm
I agree that it is very important to have a health insurance. Emergencies can happen anytime, we don’t know when it will happen. My parents would always explain that it is very important to have a health insurance. But, we should choose the right insurance for us and we should make sure that the health insurance that we choose can be trusted enough.
June 25th, 2011 at 3:11 pm
Personally, I think it’s completely irresponsible not to have health insurance, unless you are super rich and plan on paying “everything” out of the pocket. However, if you’re super rich you’ll have health insurance because it’s actually the more intelligent choice and it’s more cost-effective in the long run. I agree that our Health Care System needs to be seriously fixed. Unfortunately, Big Pharma is in collusion with congress, and until that changes I don’t see any dramatic changes being made in the near future. Sure, we may have the best quality of care in the world, but if you can’t afford it then it doesn’t matter—it’s irrelevant.
June 26th, 2011 at 11:23 pm
There are a lot of insurance policies available in the market. Each policy is different from the other. Not everything will be insured or covered under all the other policies. So you should always be very careful before choosing any policy. Research, take advice, consult the policy issuers and then take a decision as to which policy will be the best for you and your family.
July 1st, 2011 at 4:49 am
Getting a Medical Insurance has now become the need of an hour. With increasing number of illness and the increasing price for medication it becomes a very difficult task for a middle class working man to meet his need for high medication services, which in result makes the illness more severe. Many medical insurance companies take very less premium and offer great policies depending upon a person’s daily wages.
July 8th, 2011 at 2:22 am
We are a middle class family. For us to pay a small premium doesn’t bother than paying the huge medical amounts. Having a medical insurance insures us from almost all medical disorders with free treatment up to a certain limit. And nowadays many multinational companies also have started insuring their employees and their family a maximum of four people with free medical insurance and the premiums are being paid by the company itself.
August 2nd, 2011 at 11:04 pm
I strongly agree with the points discussed by Mr. Dias. It is not difficult to make a payment of a very small amount every month or on an annual basis, depending upon the policy you take rather than paying those huge medical bills. It also becomes quite difficult to gather the huge amount immediately for the hospital bills. Nowadays, many hospitals have linked up with the major medical insurance companies, and hence give you the facility of a complete cashless medical aid.
September 20th, 2011 at 12:58 pm
Well, there has been some extensive sharing of thoughts regarding the importance of health insurance. Personally, I have already used the insurance that our mother got for us. I had an operation for appendicitis a few years back. It really helped. So, if you can manage, go get a health insurance for your family now.
September 30th, 2011 at 2:30 am
Frankly speaking, its totally irresponsible for a person not having a medical insurance. Today, the risks involved in living a safe and secure life Is very great and on top of that if one is not insured, he would just end up paying too much to bear the cost of his treatment.
October 27th, 2011 at 2:03 pm
It is important to have health insurance because healthcare is quite expensive and in same someone needs to go to a hospital, get surgery, or any form of treatment, health insurance help make medical expenses (relatively) affordable. So why is is so expensive to go to a doctor? There are a few reasons I believe why medical treatment is so costly. While some might say that the reason for this is because getting treated is a necessity and people aren’t going to go without treating diseases just because of the high prices which are charged, so people in the health care industry feel they can charge high prices since what they are providing is a necessity people won’t turn down. I think it’s a little more complicated than that though. Unfortunately, we live in a litigious society and there are many lawsuits which are frivolous (not all of course) and because of a fear of getting sued doctors charge high prices to cover any potential losses as a result of getting sued as well as performing more tests than necessary so a patient can’t claim that the doctor didn’t perform enough tests.
It takes two to tango, and it’s certainly possible that both the customer and seller (patient and doctor) are a contributing factor in why healthcare is more expensive than need be. What are your thoughts on this?
January 17th, 2012 at 11:37 pm
At present, we find ourselves surrounded by too many risks which may force us to take medical treatments thus making a hole in our pockets. It is always better to have a medical insurance as by paying a small amount, you can get your medical expenses covered up to a great extent.
January 23rd, 2012 at 9:43 pm
I am not really sure about the importance of having a medical insurance. Last year I fell sick and was very serious and had to be admitted in a hospital. I did not hesitate to get all the tests done which the doctor recommended since I was having my medical insurance. They discharged me after 36hrs. But when I applied for my claim, the insurance company denied saying you need to be hospitalized for a minimum 48hrs to get your claim. I felt so disappointed since I ended up paying the whole sum to the hospital and the premiums I used to pay got wasted as well. I sure don’t need a medical insurance anymore.
January 24th, 2012 at 8:41 pm
Today, many of us are finding that we have to stretch every dollar we make. Health insurance should not be considered another expense that we have to budget for, but more as an investment in peace of mind. Because life is filled with unexpected events which can include unexpected illnesses and injuries, it is important that we all have a quality health insurance plan. No matter how old you are or where you live, it is essential to have a health insurance policy. A good health plan provides financial protection in the event you are in a situation where you require a lot of health care treatment. Like life insurance, health insurance is an investment in your future, particularly an investment in your future health.
February 10th, 2012 at 10:40 pm
Most people may not know this, but unintended health costs are the leading cause of bankruptcy in the U.S. Without health insurance, your assets could easily be garnished from you in order to pay health bills that could number into the hundreds of thousands of dollars. In fact, cancer surgery and chemotherapy could have a sticker price of $500,000 or more. So it is always a better option to have yourself medically insured before you end up losing your money due to any kind of unpredicted medical problems.
February 12th, 2012 at 9:10 pm
It’s important to have health insurance, since many lifesaving procedures are prohibitively expensive for many people like heart transplant, bypass surgery, cancer medication. It’s a bit of a double paradox though as insurance companies put a lot of effort into finding legal excuses to not cover expenses. So it is always better to do the research on finding the best insurance which suits your needs and does not contain too many of those terms and conditions.
February 12th, 2012 at 11:34 pm
If you don’t have medical insurance, you may be reluctant to seek medical attention during the early stages of a condition if you don’t have the funds. As a result, a minor condition could evolve into something more serious due to the lack of early treatment. The lack of health insurance can have severe financial consequences for you and your family.
February 13th, 2012 at 7:55 pm
Employers may offer free-service insurance, a health maintenance plan, or a preferred service supplier. Each of these types of medical insurance plans has their benefits and advantages. Employees cannot always choose, but may opt for additional medical cover. If an employee leaves the enterprise, he loses his group insurance. He may choose to keep the cover, but will then have to pay the full amount that is normally set for individuals.
February 17th, 2012 at 1:33 am
One common thing that people in their twenties have told me is that they made the decision to go without health insurance. When you are healthy and rarely see a doctor, it may seem like a good idea to cut out health insurance completely and to just go without it. You can pay for things as you go instead of worrying about the insurance premiums and co-payments on the way. However this is faulty reasoning. It is essential for everyone to always have some form of health insurance.
February 21st, 2012 at 1:54 am
Some uninsured people may decide not to obtain insurance precisely because they expect not to need medical care, so simple comparisons of the insured and uninsured can be misleading. However, many studies adjust for factors like age and health status that affect need for care. One recent study examined people who experienced an unintentional injury or a new chronic condition—times when care is more clearly needed. Uninsured individuals were less likely to obtain any medical care, and if they did receive some initial care, they were more likely to get none of the recommended follow-up care.
February 21st, 2012 at 2:21 am
Having health insurance is important for several reasons. Uninsured people receive less medical care and less timely care, they have worse health outcomes, and lack of insurance is a fiscal burden for them and their families. Moreover, the benefits of expanding coverage outweigh the costs for added services. Safety-net care from hospitals and clinics improves access to care but does not fully substitute for health insurance. These findings are supported by much research, although some cautions are appropriate in using these results.
February 21st, 2012 at 11:34 pm
I can not see a viable long term solution that does not price insurance to create incentives for cost savings and healthy habits. Plenty has been said about the former, but the statistics show that a small part of the population accounts for a large part of current health care expenditures, and that many of these expenditures are related to behavioral issues such as over-eating. This blog has written about moral hazard quite a bit, but morale hazard is more pertinent to health insurance.