It’s on the news all the time – millions of Americans don’t have health insurance coverage. Are you one of them? If you are, then you really need to step back for a moment and ask yourself why you don’t have it. Is it because you truly cannot afford it, you think you can’t afford it, it costs too much, or simply because you never get sick?
I am part of the “never get sick” school. Or rather, I get really sick only once ever year or two – it’s very rare. However, I do have health insurance these days, to minimize my financial risks if something major should happen. As it turns out, that was a very smart decision. Recently I became ill with pneumonia. Between doctor’s visits and medication, I ended up spending about $140 so far, and will likely spend another $80 or so as part of my insurance plan. So, a total cost of $220 out of pocket – certainly no fun. Added to that fact, my wife missed several days of work, and of course I was out for awhile, and it was quite an expensive illness.
What would my sickness have cost me if I didn’t have any insurance? I shudder to think. Just the doctor’s visits came to just over $400, based on the invoices I received. The medication was about $175. So without insurance I would’ve spent $575 – vs $220 with. Granted, my insurance doesn’t have the best coverage, and prescriptions are more expensive than I’d like. But by having even a basic insurance, I saved myself $355. Imagine if it was a more serious illness – medical costs can be absurd for any major procedures or illnesses.
Ultimately what I’m getting at is this. If you don’t have medical insurance for whatever reason, get it. Yes, it will add a bill to pay every month. But you also won’t have to worry about getting slapped with a $9,000 medical bill, which would really screw up your budget. So for the sake of budgeting and controlling your finances, healthy insurance is absolutely a must-have. Don’t consider it an option like too many people do.
{ 2 comments… read them below or add one }
I agree with you (and I say this as a person who doesn’t have health insurance at the moment), but I have a question. What if you can’t get insurance through a job, and you can’t qualify for private coverage?
I would love to get private insurance, because my husband is in sales, and the nature of sales is frequent job changes. It’s a pain to have to wait for insurance coverage, like we are now. However, we applied for private insurance once, and I couldn’t get coverage because I get migraines, and I guess insurance companies see that as a big health risk.
So what is a person to do in that situation?
Your position can be tough, especially with your husband changing jobs often.
Have you looked into more than one health care provider? Just because you were turned down at one place doesn’t mean you’ll be turned down everywhere. Migraines may cause some insurers to balk, but it’s not like you have cancer or so some chronic illness that requires constant, expensive treatments.
I’d give it another go with another company and see how it turns out. You may have to pay a larger premium than “lower risk” customers, but still get the coverage you need.