| Unlike in Canada and parts of Europe where | | | | Similarly, there are differences between |
| the bulk of health care costs are put on a | | | | job-based and individual-based insurance when |
| government tab, most able-bodied, mentally | | | | it comes to limitations and portability. If |
| sound Americans under the age of 65 must | | | | you have had a pre-existing condition when |
| generally rely on themselves to manage | | | | you apply for job-based medical coverage, |
| personal health care funding. For most | | | | there is a limit of about a year to a year |
| Americans, that means incorporating some kind | | | | and a half on what can be counted 'against' |
| of health insurance into their overall | | | | you. With individual coverage, limitations |
| personal financial strategy. | | | | are prescribed by the state, and vary greatly |
| | | | state-to-state, but generally, you may not be |
| Over time, however, the costs of health care | | | | eligible for coverage of costs related to a |
| insurance add up, and the total spent can be | | | | pre-existing medical condition for the entire |
| staggering. So should you have health | | | | duration of your policy. |
| insurance? Is it worth the gamble? There is | | | | |
| no single answer to these questions, of | | | | When it comes to portability, again, |
| course, but there are several items you | | | | depending on the state in which you reside, |
| should consider before making a decision one | | | | it is possible that you may receive no credit |
| way or the other about your health care | | | | for past coverage. That means even if you are |
| insurance future. | | | | lucky enough to qualify for health insurance |
| | | | coverage, you could end up waiting for the |
| First of all, about 44 million Americans do | | | | entire pre-existing condition exclusion |
| not have any health insurance coverage. Many | | | | period. |
| of these people are members of poor families | | | | |
| who do not qualify for Medicaid, | | | | Whether you choose job-based, |
| employment-based health insurance and who | | | | employer-sponsored health insurance or a |
| cannot afford, or who have been refused for, | | | | private, individual plan, health care |
| individual coverage. If you are looking to | | | | insurance is going to cost you a lot of |
| purchase individual health care insurance | | | | money, especially if you have a family or if |
| coverage, be aware that the costs tend to be | | | | you have any ongoing medical issues. The |
| higher than employer-sponsored plans and the | | | | exact amount depends on your particular |
| plans less user-friendly. | | | | situation needs. You may never need medical |
| | | | attention, and in that case, you might |
| With so many types and ranges of personal or | | | | consider the money spent on health care |
| individual private health care insurance | | | | insurance wasted. |
| available, it can be confusing as to what | | | | |
| kind of health insurance you should buy, and | | | | However, most of us need medical attention at |
| how much coverage you should have. You may | | | | some time or another. Even healthy, positive |
| not think you need several hundred thousand | | | | lifestyle-oriented people have unexpected |
| dollars worth of coverage, but consider how | | | | health events, car accidents and broken |
| much one hospital visit costs if you need a | | | | bones. You can't anticipate when these events |
| serious (yet common) procedure like a heart | | | | will happen, or how severe they will be, but |
| bypass or even minor surgery to remove a gall | | | | without significant financial means or a |
| bladder or appendix. Even slight | | | | decent health care insurance plan, you could |
| complications can result in an enormous bill. | | | | end up financially devastated. Are you |
| | | | willing to make that gamble? To assume the |
| If you receive a health benefits package as | | | | risk of not being able to pay for medical |
| part of your employment, you will be accepted | | | | services or products that you or a member of |
| under the company's plan regardless of your | | | | your family needs? Money spent on premiums is |
| health status. However, when you apply for | | | | certainly a consideration when deciding |
| individual coverage, there are no such | | | | whether to purchase health care insurance, |
| guarantees and you many not be able to secure | | | | but there are other priceless things to |
| the coverage you need, even with reduced | | | | consider before you make a final decision. |
| benefits. The same is true when it comes to | | | | |
| renewing your health care insurance. If you | | | | DISCLAIMER: This information is for |
| are employed and are covered under your | | | | educational and informational purposes only. |
| company plan, you can renew your coverage as | | | | The content is not intended to be a |
| necessary, even if you are sick. With most | | | | substitute for professional advice. Always |
| individual plans, there is no guarantee your | | | | seek the advice of a licensed Insurance Agent |
| policy will not be cancelled. | | | | or Broker with any questions you may have |
| | | | regarding any Insurance Matter. |