Agent Owner, Gilmore Insurance Services, Marysville, Washington State
In the most basic terms health insurance protects you from large medical claims that would or could destroy your finances. Most policies are written with protection that limits the insureds maximum risk during a plan year. Health insurance protects you from financial loss by assuming a large portion of the risk in trade for premium.
Health insurance does not protect you from getting sick or injured in an accident.
People buy health insurance for different reasons, but the main reason is for financial protection.
Small claims, such as routine doctor bills and most maintenance drugs can be paid out of pocket. There is no reason to buy a policy for routine expenses.
The more important reason for buying a major medical plan is to cover large medical claims, the kind that could cause financial ruin.
In evaluating major medical policies make sure you understand the way the plan works, paying particular interest to the deductible and out of pocket limits. You should also buy a plan that covers all brand name drugs, not just generics.
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People buy health insurance for different reasons, but the main reason is for financial protection.
Small claims, such as routine doctor bills and most maintenance drugs can be paid out of pocket. There is no reason to buy a policy for routine expenses.
The more important reason for buying a major medical plan is to cover large medical claims, the kind that could cause financial ruin.
In evaluating major medical policies make sure you understand the way the plan works, paying particular interest to the deductible and out of pocket limits. You should also buy a plan that covers all brand name drugs, not just generics.