Affordable Health Insurance – Fact or Fiction
Affordable family health insurance is a hot topic among most Californians. While most Americans have health insurance, there are far too many that don't have any coverage at all. Living without health insurance can lead to financial ruin and can prevent you from getting the desired treatment and results stemming from sickness or injury.
We hear time and again "I can't afford health insurance". Well you can't afford not to have it either. I believe there are numerous companies that can provide affordable health care. We need to look at what the primary purpose of health insurance is. The primary purpose of health insurance should be to protect us from catastrophic financial hardship.
When we purchase home insurance, we look at buying enough protection so in case of fire we don't lose our house and all of our belongings. We even ask for a higher deductible to keep the cost down. When we have a higher deductible we assume a greater portion of the risk.
When we get a California automobile insurance quotes we frequently choose a higher deductible to keep costs down. Sometimes we don't insure the replacement of our vehicle and purchase liability only polices. In essence we are self insuring a portion of the overall risk.
The same theory can apply to health insurance as well. There are many companies that offer health plans that have higher deductibles and actually reduce your maximum out of pocket expenses. Many of the plans with higher premiums that offer lower deductibles and co-pays, may actually have the same, if not more, out of pocket costs than higher deductible plans have.
When purchasing health insurance there needs to be a balance between your monthly premium (cost of insurance) and the maximum out of pocket expense you can incur in any given calendar year. Wise agents say take the savings and put it into a bank account or health savings account (if you qualify) and partially self insure your health. You may just find health insurance is affordable.