Health insurance is a hot topic these days, thanks to the final passing of the Patient Protection and Affordable Care Act (PPACA), which was renamed as the Affordable Care Act, or “Obamacare.” The facts about health insurance and the ACA are fairly well known by this point, however there are a number of health insurance myths floating about that need to be cleared up. Here are the five most popular:
You do not need health insurance if you are young and/or healthy.
Despite your age and your overall level of healthiness, you still need to have health insurance. Just because everything is fine now, you could still end up getting sick, breaking a bone or worse. The future is hard to predict, and some diseases can strike at any age. Also, if you wait until you get sick to apply for health insurance thinking that it will help, it will be too late. Most health insurance providers do not cover pre-existing conditions, so you will be out of luck.
The coverage offered by your employer is the best deal that you can get.
In some cases this is very true, however, it is always a good idea to get a second quote on an independent plan. You might end up with better coverage for less money, or even for the same price. Also, if you are a contract employee or have a habit of switching jobs on a continual basis, it is always a good idea to have your own health insurance, this way you have constant coverage and will not have to wait the requisite 90 days for an employer-based plan to kick in.
The lower the yearly deductible, the better the overall coverage will be.
Just because you only have insurance with a $500 deductible, that does not mean that you are paying less for your health care or that you have the best plan possible. Make sure to add up the total costs of your health insurance plan before enrolling in it, and that includes the cost of co-pays (estimate which ones you will need), the monthly premium costs, and the deductible. All must be weighed in order to find the best deal.
Prescription drug coverage is unnecessary.
This health care myth has come about mainly due to the fact that most grocery store and big box store pharmacies offer 30-day supplies of certain generic drugs for free. The problem with this is that not every medication is covered, and even the ones that are covered are very specific amounts and dosages. The last thing that you need when you are sick is to be forced to pay an exorbitant amount of money for your prescriptions, so having prescription drug coverage is necessary.
All health care is the same, whether you have insurance or not.
Yes, there is a law stating that all hospitals must admit and take care of people who are sick, but that only goes so far. If you have health insurance, you are more likely to receive all of the necessary diagnostic tests, and your overall care will be better.
These are just a few of the many health care myths that are floating about the internet and the media. Health insurance is a necessity that all Americans should have, no matter their age, level of overall health or economic status.
This is a contribution by Terry Wood, a writer for US Insurance Net on various topics including Obamacare.