Peace of mind has tremendous value. It allows a person to sleep well at night, knowing that in the case of a catastrophe, there is something standing by to help. This “something” is insurance.
When a person buys health insurance St Paul, they are thinking about what happens when they get sick. Just thinking about this is a negative. Many procrastinate and do not take action, because to do so, means admitting the possibility of getting sick.
Under Obamacare, everyone must get health insurance or suffer an annual tax penalty. The time for procrastination is over. State insurance systems are now in place to help everyone get health insurance. Many companies in Minnesota offer assistance to help clients navigate the state programs. Those who cannot afford to pay for health insurance may qualify for subsidies to help them pay for it. Others who are extremely poor register for Medicaid, which is a government-sponsored health insurance program that covers the poorest ones in the population.
Employers have to provide health insurance for workers under certain circumstances. The goal in America is that everyone must have some kind of health insurance. There are all kinds of debate about the new law. Nevertheless, one thing is certain; everybody needs health insurance when sick. The average cost of a hospital stay, reported by Hospital CFO is $10,000. Those who have chronic illness may go to the hospital many times. In total, this represents $387.3 billion spent on hospital stays in 2011, which was the year of the study.
Some can afford to pay for a single hospital stay, but for most, even this amount is a challenge. As reported by the American Association for Critical Illness Insurance, the most likely cause of bankruptcy is medical bills. Of the 1.5 million bankruptcy filings in 2012, 60% came from overwhelming medical bills. Even though 78% had some form of healthcare insurance coverage, they lost the financial battle due to co-payments, deductibles, uninsured expenses, and living expenses.
If a healthcare insurance policy is affordable, it may not provide sufficient protection. That is why it is important to work closely with a qualified insurance underwriter to assess the real needs and to determine what health care insurance is the best for a particular situation.
All health insurance is not equal. Just having healthcare insurance coverage does not mean the protection is adequate. Consulting with a professional who knows about health insurance in St. Paul is highly recommended for peace of mind.
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