It Is For This Second Group That Health Care Insurance Is Normally Said To Be Simply Too Costly

Category: Finance.

Amazingly, 20% of adult Americans feel that they are unable to afford adequate health care according to the latest statistics released by the Centers for Disease Control. Perhaps more importantly, do you have to be among the forty million?

So, are you one of the more than forty million adults who cannot sleep soundly for fear of not being able to meet the cost of treatment in the event of accident or illness? The report of the CDC which was published in 2007 and scrutinized health care throughout the United States looked in detail at a number of aspects of health care and revealed that: Ten percent of people cannot currently afford the cost of prescription medicines. As many as nearly one out of three young people between 18 and 24 have no usual source of medical treatment or health care insurance. Ten percent of people delay having medical treatment because of the price. Ten percent of people between 45 and 64 have no usual source of medical treatment and about 50 percent of these adults have high blood pressure, a major heart condition or diabetes. 20% of people below 65 years of age are not insured for at least part of each year, with most having no insurance throughout the 12 month period. There are however also many millions of people who are not eligible for cover through their employment and who have to make provision for themselves. Many people are fortunate enough to get insurance cover for themselves and their families through schemes run by their employer, however escalating costs are forcing many employers to cut back on their group health insurance plans or to do away with them altogether.

It is for this second group that health care insurance is normally said to be simply too costly. Health insurance comes in all shapes and sizes and, while a traditional indemnity fee- for- service plan can be very expensive, there are a number of less expensive options. But should you dismiss the idea of buying medical insurance out of hand merely because you consider that it costs too much? In very simple terms health insurance falls into roughly two categories comprising disability income plans and medical expense plans. Each of these types of health insurance can be bought as a single policy or separately and individual plans can again be broken down to cover particular areas such as accident coverage, hospital care, major medical expenses, basic medical expenses and more. The former covers your loss of income if you are not able to work through disability while the latter give you cover for the cost of medical treatment arising out of injury or accident. Furthermore, cover nowadays can be offered by not simply traditional insurers, but also by various group organizations, companies such as Blue Cross and Blue Shield, each of which, HMOs and PPOs will provide a range of plans with payment options that match virtually any wallet.

You might not be able to purchase a fully comprehensive policy covering every possible eventuality but the odds are that you will be able to locate a policy which will give you enough cover to provide you with peace of mind. If you are frightened by the belief that you simply cannot afford to purchase health insurance then think again.

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