Get Health Insurance. Watch Out for Limitations!

“Accidents happen to other people, plus insurance costs too much and I can’t afford it.” This way of thinking could get you into trouble.

It’s quite common for someone without health insurance to file bankruptcy because of a catastrophic claim. In fact, approximately 50 % of the bankruptcies filed in 2007 were as of a result of medical costs. The average medical cost causing bankruptcy was $12,000. Costs however can get much higher if you are to stay in the hospital for more than 2 days. For instance if you stay in the hospital 3-4 days and have multiple surgeries, you could be looking at 60, 70 or even $150,000 in medical claims.

If you don’t have medical insurance it’s important to look into getting some as soon as possible. Even if you don’t think you will qualify there is most likely a plan out there that will cover you. The costs for medical bills will be much less if you have health insurance.

For the individuals in a recent boating accident in Florida that got national attention, insurance would have made all the difference in the world. For those who didn’t have health insurance, there were high out of pocket costs for services that included surgeries, multiple day stays in the hospital, physical rehabilitation, medication costs, etc.. Not to mention the mental trauma suffered by individuals who lost friends in the accident.

It’s so important to stay covered because you never know when something like this will happen. Without coverage you could go bankrupt, lose everything you own or have to set up a trust fund and hope that you get enough to cover your medical costs.

Make sure to examine the health plan evidence of benefit or talk to your agent before submitting an insurance application. With the increasing costs of health plan premiums, insurance companies are coming out with lower level benefit plans. Some put a limitations on your prescription drug costs, rehabilitation coverage, days stay in the hospital, office visit co-pays, maternity care, x-ray and lab, etc.. Don’t buy a plan unless you are absolutely sure what you’re getting.

Before you call your broker or insurance company, make a list of the services that are most important to you or your family’s needs and tell them what you are looking for. Don’t buy a plan because it’s the cheapest! Chances are you won’t be happy with the coverage if you should really need to use it. Many individuals and families applying online solely go for the lowest priced plan which often happens to be the wrong coverage. Talk with a licensed professional if you have any questions. They will look at all the plans and companies to determine the best choice for you or your family.

JC Lewis Insurance Services

To find out more about the Florida boating accident click below:

Florida Boating Accident