Given the incredible cost of medical care
Given the incredible cost of medical care it is absolutely essential that you maintain health insurance. Given the critical nature of health insurance in American society though unfortunately there are several myths floating around out there when it comes to medical insurance. These myths include the following:
-It is better to have an employer health plan if available
-Health insurance is too expensive
-Health insurance is a waste of money for the young
The first myth arises due to the fact traditionally these plans covered everything. The problem with these plans is the costs associated with them have to account for the average composition of the work force. So if you are relatively healthy and young and rarely use medical services in a sense you are subsidizing those in the company with chronic conditions. As a young and healthy individual you may actually have lower cost or better coverage available if you go out and sign up for your own plan.
In terms of health insurance being too expensive it is actually relatively cheap compared to the risk of coming down with a chronic illness. Hospital stays can reach in to six figures and no one can anticipate when they will become ill. Many people without insurance are driven to bankruptcy should tragedy strike.
In terms of health insurance being a waste of money for young people the same issues as the previous point apply. It is fairly cheap to be insured when you are young and healthy and the costs of coming down with a tragic illness and not having insurance could ruin your future prospects.
Tags: health insurance