Health insurance offers several benefits, but some people are not interested in buying one. Following, we are going to describe the reasons why most people distrust health insurances without debating and judging their incentive or motivation.
Accident or Emergency
Not everyone needs private health insurance, especially if they are in a critical situation. You can get free medical service for some emergencies. If you were in an accident, let the emergency services know, and you will be transported to the nearest hospital in an ambulance.
Private health insurance doesn’t necessarily cover every expense. It may pay for the ambulance and a part of treatment, but not everything. So depending on where you live, you need to compare packages and see how much you pay in monthly premiums and copays, deductible, etc. It will help you make a well-informed decision.
They Hate Premiums
The average monthly premium prices have increased rapidly over the past decade. Therefore, fewer people are interested in taking out insurance plans fearing these plans are designed to rip them off.
Insurance plans are complex products, and people don’t usually understand how they work. Most people buy a cheap insurance plan without knowing how it will benefit them or their condition. They want to become a part of the insured community.
Moreover, these people don’t consider paying for health insurance as a smart move. So instead of paying for insurance, these people instead save their money for someone else, like a new car, vacation, etc.
They are Healthy
Most people who buy health insurance suffer from one of these issues:
- Chronic Ailment (Alzheimer, Cancer, Epilepsy, etc.)
- Lifestyle Disease (Obesity, Depression, Diabetes, Asthma, etc.)
- Health Issue
In most cases, people who don’t have health insurance know more about how they work than those who have bought it. In simple words, they did their research and refused to buy insurance. The common problem of health insurance is you doing know how pays for your medical care.
Having health insurance doesn’t mean free healthcare. You still pay a percentage of the expenses in out of pocket, copayments or coinsurance. Medical bills are crippling, and you pay a good chunk through Out of Pocket Expenses. So, you are paying a percentage of the medical bill on top of a costly premium, how this helps you?
They have Employee Insurance
Most companies offer health insurance as an employee benefit. We agree the company doesn’t offer excellent options, but most people are only looking for basic options. So why bother with another health insurance plan if your employer is already providing you with one.
You can use iSelect health insurance quotes and argue for a better deal with your employer.
Is Health Insurance Worth It?
You wonder whether health insurance is worth it, and the answer is yes. Health insurance is worth the trouble if you do your research, and buy something specially tailored for your needs. The insurance plan is only valuable if it considers your health issue as claimable.
How do you feel about buying health insurance?
Share your thoughts and comments with us.