How Effective Is Your Individual Insurance?
2:43 AM
The statistics are pretty alarming, and something that is definitely of concern. It is estimated that over 14,000 Americans lose their healthcare coverage every day, but very few of them end up opting for individual coverage. Not surprisingly, most of these people are first time seekers of independent coverage and hence find it challenging to even go about with the process and getting a coverage that they can afford. It is this kind of customers that insurance companies are targeting off late, offering skimpy coverage at very low premiums in an effort to lure in more customers.
The problem with this low priced insurance coverages is that they are barely effective and are often filled with loopholes and problems that you are better off avoiding. If you actually do fall very ill, you cannot expect to get even half of the amount that you are going to be spending in recovery costs alone. Many people who want to go in for these policies do so because they dont have any other option. It is unfortunate that no one reads the fine print and really understands what all is covered by the policy and what they will need to foot on their own.
The individual insurance coverage is severely under insured and many people who opt for it are often left trying to find sources to pay their huge medical debt. Often, they end up dipping into their savings or borrowing money in order to pay off the loans.
A quick survey carried across the country reveals that most individual insurance packages, including local ones to reputed ones like All State and Aetna are all actively pushing these packages with the only aim of getting more people onboard. They are often inadequate and when a person does need to use them, the policies are not enough to pay even half of the medical bills.
Hence, when you do opt for individual coverage, ensure that your policy too doesnt leave you fuming when the time to claim does arrive. Remember that getting cheap health insurance doesnt mean not having anything to pay with later when you do need it. You have to get a policy that is going to be useful when you fall ill and not one that will leave you broke if you ever need healthcare services. As much as possible, ensure that you buy a policy that is affordable and has decent coverage, which is what matters in the end.
The problem with this low priced insurance coverages is that they are barely effective and are often filled with loopholes and problems that you are better off avoiding. If you actually do fall very ill, you cannot expect to get even half of the amount that you are going to be spending in recovery costs alone. Many people who want to go in for these policies do so because they dont have any other option. It is unfortunate that no one reads the fine print and really understands what all is covered by the policy and what they will need to foot on their own.
The individual insurance coverage is severely under insured and many people who opt for it are often left trying to find sources to pay their huge medical debt. Often, they end up dipping into their savings or borrowing money in order to pay off the loans.
A quick survey carried across the country reveals that most individual insurance packages, including local ones to reputed ones like All State and Aetna are all actively pushing these packages with the only aim of getting more people onboard. They are often inadequate and when a person does need to use them, the policies are not enough to pay even half of the medical bills.
Hence, when you do opt for individual coverage, ensure that your policy too doesnt leave you fuming when the time to claim does arrive. Remember that getting cheap health insurance doesnt mean not having anything to pay with later when you do need it. You have to get a policy that is going to be useful when you fall ill and not one that will leave you broke if you ever need healthcare services. As much as possible, ensure that you buy a policy that is affordable and has decent coverage, which is what matters in the end.
About the Author:
If you are having trouble choosing the right type of medical insurance, then, log on to Insurancecaredirect. Here you will find information on all aspects of health insurance including low cost health insurance options. Grab a totally unique version of this article from the Uber Article Directory
You can leave a response, or trackback from your own site.