Insurance can be very frustrating for most of us. Any type of insurance from auto to house and especially as it relates to our life and our health is basically a payment we make and hope we don’t have to use. Join us as we look at the pros and cons of health benefit options.
OK, so I admit I am writing this from the bias of being a citizen of the United States and as such the perspective will be that of my country. I understand that the nature of the internet is to be able to reach people around the world and that the healthcare politics vary greatly from country to country.
Health benefits are an interesting topic as it seems that everyone looks to another country for answers and certainly the same is true here in the United States. In fact, the controversial topic of health benefits has been and continues to be such a hot topic it very well may at least partially decide who our next president will be.
It is almost equal here for public opinion regarding the emphasis for drastic changes versus the more traditional model of health benefits. For better or worse other countries have more of a governed health system.
So for those of us who have a choice…at least for now, let us look at health benefit options. The first thing to keep in mind is that perhaps the most important thing for individuals and companies is health benefit flexibility. We all have different needs and should only have to pay to protect the benefits we would actually use.
The next thing to look at is cost effectiveness or efficiency. We usually are making decisions regarding benefits the wrong way. We tend to look for a lower deductable and co-pay of an office visit or prescription and may in fact pay too much in premiums because we want to actually use the insurance that we purchase.
We should maintain insurance that is more cost effective by utilizing a higher deductable and co-pay that is used in the case of a true emergency or life changing conditions. The savings should be placed in a traditional or medical savings account for the more routine office visits.
Unfortunately, far too many people live with no insurance because they have decided it is too expensive or because the lack of money makes the decision for them. Then when health deteriorates it becomes difficult to obtain quality and timely care.
Insurance companies have some of the tallest buildings in every major city for a reason. Name any other business in which we pay money and receive nothing. Then when we need help it seems the service gets denied anyway as not medically necessary or related.
Although health benefits are frustrating, political and controversial they remain a necessary evil. Make sure you have enough insurance for you and your family in case of a major life changing event or condition and save money through plans with a higher deductable for normal doctor visits.