Wednesday, May 2, 2012

Don’t Leave Home Without It!

This blog post was going to be on a completely different subject until my daughter decided to enter this world three weeks ahead of schedule.  All the events that led up to her coming early got me to thinking about personal health insurance and how important it is to have for every individual no matter what age.  The reason that I recommend health insurance for everyone is that one of the most common reasons for bankruptcy is overwhelming medical bills.  Overwhelming can span from a few thousand dollars to tens of thousands of dollars and when people don’t have health insurance they are on the hook legally for every cent.  This second pregnancy with my daughter was filled with extra doctor visits, multiple sonograms, and a maternity emergency room visit two days before she was born. 

Today I received the benefit statements from all of the extra visits excluding the ER visits and they totaled close to $600 and these were all office visits in the last month!  Thank goodness for health insurance because I did not have to pay a dime.  I have yet to receive the bill for the ER visit and her birth, but I know because of the insurance that I don’t have to pay the entire bill, but maybe a tenth of it.  If I didn’t have health insurance her birth alone would cost me at least $10,000!  That type of money you can’t come up with overnight and the hospital expects to be paid as soon as possible for any service and when people don’t pay up the hospital ends up suing and winning.  Eventually the person will end up filing for bankruptcy because they can’t pay.  As far as health insurance goes the age group that goes without it the most are the younger generations ages 18-35 mainly because young people think they have a long time before chronic illnesses hit their body.  They would rather save the monthly insurance premium and use the money elsewhere.  That is a big mistake!  If you can’t afford health insurance currently as a young person it is time to re-evaluate your priorities.  If you have a cell phone, or home internet, cable, etc you may want to cut one of those services off or all of them off and pick out some health insurance because it is to dangerous financially not to have insurance on board. 

In the past two years I have known four people under the age of 32 who have had either a stroke, heart attack, or cancer and I don’t know what their insurance coverage was at the time, but if they didn’t have it they could easily be in the bankruptcy stage by now.  For example the cost of treating a heart attack is $40,000 and that does not include the treatment that it will take such as more doctor visits and extra medication that will follow for the rest of that person’s life.  The cost of treating cancer is even more so there is no reason to take the chance of not having health insurance.  Remember DON’T LEAVE HOME WITHOUT IT!

If you don’t have insurance what are you risking financially by not having it?

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