Did you know that more than 60% of bankruptcies in the United States are the result of medical bills? It’s true. That’s one reason having a good health plan is so essential. Without one, most people are just one serious illness or accident away from financial ruin.
A high-quality health plan isn’t just financial protection—it’s also important to maintaining good health. Today, all health plans are required to pay for 100% of the costs for preventive care, such as routine exams and lab tests. So in addition to protecting you from the financial risks of serious injury and illness, a good health plan can help you stay healthy by keeping you up to date with preventive care visits. That means you’ll stay healthier, happier, and likely spend less time and money at the doctor overall.
What makes a “good” health plan?
For most people, a good health plan limits their out-of-pocket costs to a level they are comfortable with and lets them see the doctors and visit the hospitals they want. But finding such a plan isn’t always easy. Some plans carry “hidden” costs in the form of high deductibles and coinsurance, or they place limits on how much they’ll pay for services or how often you can go for care. Unfortunately, it’s not always easy to get an apples-to-apples comparison. But it’s always better to make an attempt at a comparison before you buy a plan rather than after you’ve been surprised by unexpected bills, when it’s too late.
If you have questions about the value of a health plan, feel free to ask. Send me a note at firstname.lastname@example.org or post a comment. One of the reasons we started this blog was to help you understand the ins and outs of health insurance so you can find just the right coverage at the right cost for you.