Health Insurance
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Your 10 minute guide to health insurance
You might be in for a shock to learn how much healthcare costs actually cost in the the city you live in. Once you know, it is important to get your family sufficient health insurance. There are innumerable examples of people being shocked on seeing a hospital bill at the time of being discharged. It happened to my family last year, where a somewhat complicated procedure ended up costing us more than twice the amount we thought it would. Insurance covered less than a third of the total bill. As a result, the remaining amount was borne by us.
There is a very good chance that you have health insurance from your employer. Compare some of the above costs to how much coverage your current policy covers you for. Most of the time, we assume that serious diseases will never happen to anyone in our family as we’re more or less healthy. That would be an incorrect assumption, as diseases like cancer can happen to anyone. Further, as you grow older, medical costs will be far higher than they are today (over the last decade these have been inflating at double digit rates per annum).
In a few quick steps let's walk you through how to ensure you are in control of your family’s health: The most important starting point is to understand and see for yourself how much healthcare costs of different ailments in your city cost. If you are a family of 2 ie. no children the most prominent diseases list will be different from that of a family of four that includes 2 children. This can be viewed in a matter of seconds. The next step is to then see how much health insurance is adequate for your family. While there is no way to be absolutely certain, we take a conservative approach and assume how adequate is the amount needed, assuming each member of the family might need to be hospitalized once during a year.
Of equal importance is to get a sense of how much it might cost to get a health insurance amount that is deemed adequate. All of us would love to have lots of insurance but unfortunately, it comes at a cost and each consumer has to make his own decision of how much he can afford to pay. At this stage, you have understood how much is adequate so you are unlikely to go for an amount that is inadequate for your family, even though you might not opt for the highest amount suggested. so you might as well be prepared for it by getting started here.
Thank You‌!
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