The phrase "affordable health insurance" is rarely used today because
the costs of staying well have skyrocketed in recent years. However,
without health insurance many people end up paying considerably
more for the medical services they need. Thankfully, there is one
type of affordable health insurance available to most people, even
though it may not provide the comprehensive care most needed.
Why Affordable Health
Insurance (or Any Health Insurance) is Necessary
According to the Council for Affordable Health Insurance, people
who are uninsured pay a lot more for their medical services than
those who are insured. The organization cited two examples. First,
a patient who had a cyst removed from his back was charged $74,396
because he had to wait for his health insurance to cover the costs.
This amount was nearly ten times what the insurance company would
have had to pay. Another example was that a hospital in California
charged uninsured patients more than $5,500 per day when their
costs per patient were only $1,376.
The reason for this higher prices is that insurance companies
work behind the scenes with medical care providers. They work
out pricing arrangements with doctors, hospitals, and other medical
facilities which provide win-win situations for everyone but the
patient. For example, a patient must choose a doctor from his
insurance's network (i.e. doctors with whom they have negotiated).
This means the insurance company pays less, and those doctors
have a steady stream of patients.
Affordable Health Insurance - One of the Only Options Left
Clearly, having affordable
health insurance is critical, especially for major health problems,
such as a heart attack. However, finding affordable health insurance
isn't easy. The only option many people have is Catastrophic Health
Insurance.
This type of health
insurance is available to people who have no prior medical conditions.
The main benefit is that the monthly premiums are low. According
to the article "Understanding Catastrophic Health Insurance" (see
references) a 29-year old female who doesn't smoke would only
have to pay $29 per month.
While it is affordable health insurance, it does not cover much.
No routine or preventative actions are covered. Prescriptions
are also not included. This health
insurance is mainly intended to cover the costs of a major
hospital stay, such as surgery. Even then, these plans have limitations.
For example, a $250 or more deductible is not uncommon and plans
usually have a maximum payout amount. However, this type of insurance
may be better than none at all.
More Information on Affordable Health Insurance
To learn more about these affordable health insurance topics,
read "Understanding
Catastrophic Health Insurance" and "CAHI
Addresses the Problems of the Uninsured".
For additional information on health insurance, read "Short
Term Health Insurance" and "Health
Insurance Coverage."
Other Resources
