Thursday, June 27, 2013

Medical Insurance is no joke

I have been writing about medical insurance for a long time now and it is getting no better. The premiums are getting much higher with deductible and co pays killing whatever money you have in your pocket as discretionary income. Recently another report came out stating that people even with insurance can face bankruptcy due to rising premiums, deductible and other expenses not covered by the insurance and I have been witnessing this first hand. One time, my daughter went to hospital and I had to keep on paying the different deductible and co pays and other expenses which the insurance refuses to cover and the funny part is that if you think that you have paid all the bills, another one comes out not right away but months apart which makes you mad and then you have to readjust your budget. And I have a generous insurance package too (as compared with other companies which I know of). And with the new health care reform, people might get health insurance but the cost have not been calculated as of yet. Although the government is claiming that it will subsidize the average people who want to get health insurance but the deductibles and co pays will be a burden that the government has not announced. The health care maybe more accessible although the cost factor needs to be seen and if it is prohibitive than most people would rather go into the government health care rather than buy their own insurance. Only time will tell when this new healthcare comes into force next year.

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