The U.S.A. Healthcare coverage is provided through a combination of private health insurance and public health coverage and, nowadays, more and more American people are seeking health insurance. In 2008, over 20% of the American population had health insurance, but is the insurance chosen by each person the most suitable? Let’s find out the 8 common mistakes to avoid!
Health insurance pros and cons
Health insurance is one that is taken out and paid for by each natural person or by employers on behalf of their employees and whose decision to take out is voluntary. It is an agreement between two parties, in which the insured pays the insurance entity a periodic monetary contribution, and in which the insurer undertakes to cover, in whole or in part, the costs of using healthcare provided by the former.
Although our country has a National Health Service that provides universal coverage, a large part of the population feels the need to take out health insurance, which has the advantage of complementing the public health system, ensuring:
a) Full or partial coverage of services that are not included in the public system benefit package or that are not fully covered by the health system (for example, dental care and alternative medicine);
b) Increased consumer choice – privileged access to private providers, ensuring a wide choice of care providers; faster access to healthcare; access to top quality accommodation.
Know some of the critcisms pointed to health insurance
There are several health insurances available and despite the precious help they can represent, there are also some weaknesses that are pointed out to them. The studies carried out detail some of the criticisms most pointed out by insurance users:
- High number of exclusions;
- Age limits;
- Extended grace periods;
- The annual duration of the contracts (the insurance company can terminate a contract if the buyer incurs too much expense, for example due to a prolonged illness);
- The existence of too many policy exceptions (often they do not cover expenses related to psychiatric illnesses, tuberculosis, hepatitis, organ transplants, hemodialysis, sexually transmitted diseases, hernias, physiotherapy and obesity and fertility treatments);
Health Insurance: 8 Common Mistakes you should Avoid
We all want the health insurance we take out to be as cheap as possible while at the same time covering all our needs and meeting all our expectations. However, the insurance with the most affordable premium is not always the one that meets our needs. When it comes time to choose health insurance, avoid these 8 common mistakes:
01. Only be guided by the value of the prize
Know all the specifics of health insurance and ensure that they are tailored to your needs (for example, if you have dental problems you should look for insurance that covers dental appointments and examinations).
02. Don’t compare prices
There are several health insurance options on the market, with different premiums and different deductibles. Analyze your needs, know the proposal that each insurer has to offer and compare them in detail.
03. Not checking if your usual doctors are part of the network
Do not check whether the doctors who accompany you or the clinics/hospitals you usually use are part of the network of insurance partners you are going to hire.
04. Not paying due attention to grace periods
In general, taking out health insurance does not mean that you can use it right away. Compare the grace periods for different health insurances.
05. Not paying attention to the insurance coverage and ceiling
Health insurance usually has an annual ceiling for each specialty. You must take out health insurance whose ceiling meets your needs.
06. Ignore exclusions
Exclusion analysis is extremely important as there may be treatments that are not covered by certain health insurance.
07. Not knowing all the extra services associated with health insurance
Get to know the benefits offered by each health insurance. There are insurances that offer services such as reimbursement for medication, home visits and coverage for treatment abroad.
08. Confusing health insurance with health cards or health plans
As a rule, cards and health plans are more affordable, however, it is important to bear in mind that they are not a substitute for health insurance.
Final Thoughts
Above all, it is important to conveniently analyze your needs and think about whether the existing alternatives will be satisfactory and which one will meet what you want. The ideal health insurance varies from person to person, depending on their medical history and stage of life. Do the exercise of analyzing the amount you spent in the past year on appointments and treatments, compare this amount with the total price to pay for one year of health insurance and avoid the 8 mistakes described above.
