Is Your Healthcare Policy A Good Value?

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Posted on 20th December 2010 by admin in Uncategorized

I know many people who do not have healthcare insurance.  Most do not think that the insurance is worth the cost of the monthly premium.  Before you cancel your policy or give up on considering a healthcare policy, there are a few questions you should ask yourself about the costs and benefits of health insurance for yourself.

The best place to start a personal assessment of your need for health insurances is by assessing your past medical history.  Some people hardly ever get sick and rarely see a doctor.  Others may experience chronic illnesses that require frequent doctor’s visits, medical tests, and possibly hospitalization and therapy.

If you are either extreme than you can assume that the less see a doctor the less likely you need medical insurance and the more you see the doctor the more you should have medical insurance.  This is primarily because frequent visits can become costly and you will likely have bills greater than your medical premium.  Keep in mind that physician’s charge higher rates to patients who are not insured.

Next, consider the types of illnesses you are at risk of contracting.  Your family medical history can provide a window into the illnesses that you may be most susceptible to getting.  Your personal habits, work environment, and previous medical history will affect your future health.  If you are a smoker, you increase your chance of getting cancer or emphysmeia and should consider having medical insurance as you get older.

It is wise to compare your actual health care costs with the projected costs identified from potential future illnesses.  If you determine the annual medical cost of caring for those illnesses and take into consideration the increase in annual fees, you can determine if acquiring healthcare coverage is a benefit worth the cost.

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