There are 3 important terms you should be aware of when purchasing insurance: premiums, deductibles, and co-pays. In this video, Lori-Ann defines and clears up the common misconceptions surrounding these terms so you are able to make a more informed decision when it comes to choosing your health insurance plan.
Tag Archives: Preventive Care
I’m Healthy: I Don’t Need Health Insurance
It’s the call you never want to get. “Honey, there has been an accident….”
This is what my friend Kelley heard on the other end of the line when, Matt, her husband (boyfriend at the time), called to tell her he was in a motorcycle accident.
In the summer of 2011, Matt was interning at Chrysler and about to start his senior year at Michigan State. Earlier that year, Matt was taken off his parent’s health insurance plan. Because he was still in school and only working part-time, he decided to not sign up for health insurance. Paying for rent and tuition was on his mind more than healthcare.
One day, he went out for an innocent motorcycle ride with a friend and in a split second everything changed. A car pulled out in front of him and clipped the front of his bike throwing him into the median. Matt managed to avoid any broken bones or head trauma. Road rash and a totaled bike were the extent of his injuries. The ambulance came and he was rushed to the hospital.
Once he was treated by a physician, he called Kelley to let her know he was okay. The first thing that came to Kelley’s mind was the fact he did not have health insurance and how would he pay for the medical bills he was likely to incur.
In the state of Michigan, an accident between a motorcycle and another vehicle, auto-insurance of the “party at fault” foots the bill. However, if there is an accident between two motorcycles, auto-insurance does not cover the claim.
In Matt’s case, he “got lucky.” Not only could the accident have been a lot worse, he may have been left with a pile of medical bills with no way of paying them.
I often get a lot of questions from friends and family asking “How do I know what plan is right for me?” or “I’m healthy, do I need to have health insurance?” I can easily list all the reasons why they need healthcare, but at the end of the day, I cannot make the decision for them. We have to think about what our needs are currently and think about where they might be throughout the next year.
Kelley and Matt’s story is a perfect example. You have to be thinking about the “What if’s.”
What Does Health Insurance Cover? VIDEO
We go to great lengths to prevent ourselves from getting sick, right? However, are those “well check-ups” covered by your health insurance policy? It used to be that insurance companies only covered the services that were most cost effective for them. This video explains how basic services like preventative care are now required to be covered by all health insurance policies (including Medicare).
I hope this post helps you Spin Your Healthcare Your Way!
P.S.
During the next few weeks I’ll be finalizing my ebook, Easy Healthcare: Choosing an Insurance Plan. If you have any questions about specific coverage options, please let me know!