Thinking About Not Getting A Medical Insurance? Think Again!

Some may be wondering if they can go without medical insurance. Sure, you can. But be ready to face numerous consequences. Medical procedures, either planned or unplanned, can be very costly. Without health coverage, you should expect to pay for all your medical costs. However, if you are really cash-strapped and cannot afford medical coverage, you have to be proactive and be financially prepared for future medical bills. How to do that?

Here some things people without medical insurance can do to prepare:

  1. Look around and compare doctors, hospital and urgent cares.

Hospitals and doctors have different prices for services. So before you even get sick, call around and check out the average fees doctors and hospitals charge. Find out which one is the least expensive, so you know where to go in case you get sick. You can also consider urgent care facilities. Some of these facilities even charge less than what most doctors collect for a regular consult. If you don’t have a medical coverage, it is worth to know where you can save.

  1. Ask for discounts or pay in advance.

It’s not uncommon for doctors to charge a lower rate for clients paying upfront, but this should not be a reason not to ask for a discount. There are also hospitals – and even healthcare providers – that offer reduced rate if you pay in advance. This is usually common in elective surgeries as well as for childbirth. Of course, this doesn’t apply for emergencies.

  1. Pay immediately.

If possible, pay up your hospital bill immediately or draw up a payment plan as soon as you receive a hospital bill. Do not delay payment as the doctor’s office or hospital has a stringent collection agency that will be set to work in as short as ninety days. Negotiating with a collection agency is definitely more difficult.

  1. Cut on medication expenses.

Medicines can be costly so find ways to minimize these potential costs. Doctor’s office usually has tons of free samples; ask your doctor for free samples. In addition, you can choose generic drugs, which are costs less. If you need medical equipments, such as blood sugar monitor, a sphygmomanometer, or even a pulse oximeter, you can check online resources like Nightingale Knows to see alternatives. You should also shop around and compare prices from different pharmacies to find the best deals.

  1. Save for medical expenses.

If you don’t have health insurance, make sure you have savings exclusively intended for medical expenses. It is recommended that you open an account and save at least a hundred bucks every month to cover potential expenses on health. Take note that going without a medical insurance may lead you to additional fines as set in the Affordable Care Act. Moreover, you may be forced to declare bankruptcy in case you get a caught up in a serious illness and cannot pay up your dues.

All said, the hassles of going around without medical insurance are far too many. Not having this coverage can cause you unimaginable troubles. As such, this should be considered a necessity. Surely, no one wants to fall ill or suffer a medical emergency. We go on great lengths of taking care of our health such as taking vitamins or equipping ourselves with health monitors such as those here: https://nightingaleknows.com/. But the sad truth is that these unwanted events are a part of life that we need to prepare for. So, better be ready with a medical insurance now!

Critical illness Insurance

Clinicians_in_Intensive_Care_Unit

Critical illness insurance is an insurance policy or agreement between the policyholder and the insurance company. This insurance plan, called major medical plan, is to provide a lump sum cash payment and to protect the policyholder when policyholder is diagnosed with one of the critical illnesses occurred in both inside or outside of the hospital. If you have critical illness insurance, you can have right to get coverage fully or partially depending on the conditions and rules of it. For examples, conditions could include cancer, stroke, heart attack and long-term hospitalization.

Some restrictions to make coverage for policyholder are unique. But several reasons behind not to get coverage are surviving 30 days after diagnosis, any critical diagnosis within the first 90 days, and pre-existing conditions.  Critical illness insurance policy has lower premiums for a healthier person but basic medical costs are not covered; if you aren’t a healthier person, you may have higher premiums to pay.

Why need it:

It is worth saying that critical illnesses can cause a financial devastation to thousands of individuals and families. This type of insurance plan is created to provide cash at a time it is needed most. So, critical illness insurance can be a very important thing that can protect your illness. If you don’t have this insurance policy, you have to pay for medical treatments in the event of your critical illness. If you are thinking the reason of taking out critical illness cover is to pay for private treatment, you can consider choosing for private medical insurance. Though a critical illness payout has no limitations on how you can practice it, it could be very useful to make pay your mortgage, or can allow you to go part-time, and generally ease your family finances.