Additional Coverage to Healthcare Insurance

This brings us to another of the leading reasons why people want to run away from buying health insurance. Many of the employers offer a standardized package for coverage against medical expenses to their employees. It is a common misconception that the package you are receiving is more than sufficient for the requirements of yourself and the family. What needs to be realized is that as stated, the package for coverage that you receive from your employer is “Standardized”. This implies that it is not catered to your individual requirements in any way. You may rely on it completely but it will only be a matter of time before you find yourself in need of quality healthcare services but your employer-provided health insurance package bails on you.

Moreover, it won’t be wrong to state that we are living in a world of excessive competition with private ventures beginning to establish their monopoly over the market. Both of these features are counteractive for your job security. In the worst-case scenario that you ended up losing your job, do you have a fall back plan? The reasons could very well be plenty. It could be an accident that disables you from continuing your job or perhaps an illness that prevents you from playing the role of the bread-winner in your family. In such a time of great distress, the worst that you can face is an additional burden of the medical expenses since you no longer have an employer to pay it for you.
Buying health insurance, therefore, ensures that you’ll at least have one less thing to worry about when the push came to shove. It’s really about being prepared for the worst, to be honest.

Tax Deductible Premiums

Considering the information that we have stated so far, it is evident that health insurance may look like an expenditure for you now, but it helps a great deal in saving a lot of money for you in the years to come. But what’s even better is that there are monetary benefits associated with health insurance that are a lot more literal than what has been already mentioned. What if we told you that the premiums you continue to pay to your health insurer on a monthly basis are tax-deductible as well?

The policy for tax-deductible premiums varies from country to country and even among the different states of the USA. Primarily, though, the tax-related benefits of health insurance come in two different flavors. Either as tax exemptions or in the form of rebates or reimbursements. For detailed information, however, it is recommended to make your search and find out the rules and regulations regarding the tax-deductible premiums.
The point being, as per the income tax act, opting for health insurance makes you eligible for tax benefits. But that is not all. In an event that you go by without filing a claim throughout the year, it is likely that your insurer will offer a bonus to you that may be in the form of reduced premiums for the upcoming years or broader coverage for you and the family. So, there goes your worry of having the premiums go wasted as well.

Final Note

There is no argument over the fact that the benefits associated with health insurance are numerous. The above-mentioned benefits can essentially be thought of as the tip of the iceberg with the actual benefits penetrating much deeper than these. We have tried to inform you of the major benefits in an attempt to let you see how opting for health insurance is a step that makes sense for you as well as your family in the long run. The benefits must have helped you to stop thinking of health insurance as an expenditure and consider it a wise investment that will surely pay off in the time to come.

If you are convinced that opting for health insurance is indeed a boon for you, it is time for you to start looking into the health insurance providers in order to make an informed decision. Always remember to never make a rushed decision. Get an appointment, meet with a few of them, discuss your circumstances and see the best that they can offer. Compare and contrast the offers to get the most out of your health insurance plan. All in all, it won’t be wrong to conclude that buying health insurance is certainly not a decision that you will have to regret making.

Preventive Healthcare as Proactive Approach Prevention to Healthier Life

What is a Proactive Approach Health Prevention

preventive healthcare approach to healthier life

Ah, the best of times when healthcare used to be categorized into preventive healthcare and the curative one. Blame it on the busy schedules or the rising cost of healthcare, the former is being pushed further into the background in this time and age. From laymen to professionals, people want to focus on curative healthcare only. They just want to address it when the time comes, being completely oblivious of a simple fact that the more you focus on preventive healthcare, the better are your chances of not needing the curative one, in the first place.

When was the last time you visited a hospital or your family doctor for a regular checkup? There wasn’t anything seemingly wrong with you, you just wanted to make sure that it remains the same way in the time to come. Probably, it must have been months. But how come since you have been agreeing to your health being your greatest wealth since the start of this article? Here again, the culprit is the rising cost of healthcare. The regular checkups, diagnostics, tests, and procedures, have now started to hit our wallets like a rock. This is the very reason why you lose your focus on preventive care and wait for the problem to be completely developed before you plan to take any action against it.

Buying health insurance highlights the benefits of preventive care. Simply put, if you are a believer that your health is of the essence and you know that you are covered for the expenses of regular checkups and preventive tests and procedures, would you be able to think of a single good reason to not opt for them? Health insurance, therefore, invites a more proactive approach to holistically maintain and sustain your overall health in the long run.

The Real Cost of Public Healthcare Insurance and Services

It’s funny how people like to talk about inflation in terms of how much more does the real estate costs as compared to ten years ago. The point of comparison is usually things like food, shelter, clothes, vehicles, etc. But a quick search on the internet would give you an idea of how the cost of healthcare has skyrocketed a lot more than any other necessity on the face of the Earth. And that’s when we are referring to outpatient only. Being admitted to a hospital for a few days is a whole another story that has the potential to shake your entire budget for the next couple of months.

We have already established that your health is of prime importance. If so, wouldn’t you want to have access to quality healthcare services where you can find the peace of mind knowing that your health is in the hands of highly skilled and experienced professionals? Isn’t that the whole point of going to a doctor? But quality always comes at a price. And similar is the case with healthcare services.

In light of the rising cost of healthcare, opting for health insurance is certainly going to be a wise decision since it enables you to have consistent access to quality healthcare services. You wouldn’t have to worry about doing the math of how much it is going to cost you to visit a healthcare facility. Your focus can entirely be on your timely recovery and maintenance of health knowing that you are already covered for medical expenses like that of hospitalization, ambulance charges, domiciliary expenses, medication, medical procedures, etc.

real cost of health care insurance and services

Protection Against Healthcare Bankruptcy

If you hadn’t realized already, here’s an attempt to put it in the simplest of words. Yes, the cost of healthcare does have the potential to push you a step closer to bankruptcy. As per a World Bank report, an average individual is only one critical illness away from bankruptcy. One of the first thoughts that pop into your mind when you think of purchasing health insurance is the fact that you get a common cold or other mediocre illnesses every once in a while. You are convinced that you are more than capable of paying for it from your pocket when it comes knocking at your door.

Truth is, you are not entirely wrong. Perhaps you are capable of affording the out of pocket expenditure in such circumstances. But could we please take a look at the guarantee card that clearly states that you are promised to never fall prey to a critical illness in your entire life? That’s right, you don’t have one. Unfortunately, adversities and hardships have a way of coming uninvited. So, ask yourself this, are you prepared to manage the long-term costs associated with a critical illness all by yourself? In all honesty, you are going to have to resort to your savings account and that my friend, is your first step towards bankruptcy.

Opting for health insurance, on the other hand, may sound like expenditure in the present, but if you look at it a few years into the future, it is a way for you to protect yourself against the painstakingly high costs of critical illnesses that put you on a track to bankruptcy.