Health insurance is a topic that often comes with a lot of misconceptions. Did you know that 80% of Americans do not know what basic health insurance terms and the basics of their policy? For instance, there are a number of areas where policy holders can save money that they are unaware of. It’s really shocking! In fact, most of these individuals have fallen victims to a number of head-scratching misconceptions. That’s what this post is going to address. Don’t allow yourself to be ignorant of the most common misconceptions.
I won’t get healthcare services until my deductible has been paid.
This is definitely not the case but I can understand where the misconception comes from. With home and auto insurance, policy holders are often required to pay their deductible before the insurance company will pay the claim. Health insurance follows a completely different set of rules. While you will have to pay your deductible before your insurance will pay for a lot of services, you will still get access to a lot of preventive services before you meet your deductible. Some examples include:
- Blood pressure screening
- Blood work for cholesterol
- Women’s health screenings
Premiums for health insurance are unaffordable.
A lot of people fail to explore the depths of their health insurance because they don’t think that it’s affordable for them. However, there are laws in place that allow most people to find affordable health care. Individuals who don’t earn enough to afford high insurance premiums could potentially qualify for Medicare. There are a lot of new laws that have creates a gateway that allows low income families access to health care. The point is that if you do your homework, you can very likely find a plan that falls within your income level. Of course, the regulations surrounding healthcare are constantly changing as politicians use it as leverage for so many other policies so you need to keep an eye on it.
Deductibles will require me to pay huge out of pocket expenses.
Your deductible is a set amount of money that you must pay every year out of pocket. It resets every year so it’s true that insurance does come with some additional costs other than the premium. Copayments are required to be paid at the time we receive the service. Laws are currently changing that limit the amount of out-of-pocket expenses that must be paid so you need to research this. The fact is that this statement is not entirely true and the amount you pay will usually be substantially less than the overall expenses.
My insurance covers my no matter where I get medical services.
False! You must do your homework here because your insurance has a specific network in which you can receive full benefits. Most policies will encourage its members to use these services by making members pay more when they use out-of-network healthcare services. What makes this even more confusing is that the network might be different depending on the plan you choose. Make sure you carefully review your policy.
Don’t fall prey to these misconceptions. Make sure that you understand the facts before choosing your health insurance policy.