As I talk to people or even watch TV, I frequently hear that the cost of health insurance is too expensive, or I can’t afford health insurance. I look at it another way, can you afford not to have health insurance?
If you were to become critically ill with a disease such as cancer or a heart disease, how would you pay for the cost of care?
Health insurance premiums could be considered expensive, but compared to what? Would it be the cost of treatment, or are you comparing it to other types of insurance? It is always tough to figure that one out. With life insurance, premiums are fairly low because you will only have one claim. Sadly it is the only insurance that we are guaranteed to need. I have auto insurance and home owners, but have rarely filed claims. I guess I am fortunate there. You cannot predict how our health status will change over the years. Sometimes you are just unlucky.
I was reading an article about a man in the Washington, DC area, he said he did not have health insurance, because he never sees a doctor and he did not need it. I found that to be interesting as I have always wondered why your car insurance does not pay for oil changes or belts or alternators, but health insurance does pay for maintenance on your body.
Let’s get back to the gentlemen in the DC area. My grandfather was a doctor. He treated me until 1992 when he died. I have not seen a doctor since, but I have maintained my health insurance. I do, however, carry catastrophic insurance. You see I am not worried about the $100 doctor visit, or even the $2000 MRI. I am worried about the $100,000 heart surgery or the cancer treatment if heaven forbid I need it. So you see health insurance should be used to protect your assets not for you body maintenance. This will help keep your premiums down and not be paying for benefits that you may or may not use.
Eric Wilson is President of I Sell Health Inc., a Chicago area full service insurance agency. He can be reached toll free at 888-448-5370 or online at www.isellhealth.com
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