Women need insurance. Insurance can be for your automobile, your home, your mortgage, and your life. One kind of insurance that may be overlooked because it has become expensive is Health insurance.
Here is the truth about health insurance. YOU NEED IT. Health insurance must be part of your financial plan. You can obtain it from your employer if you work full time and maybe even if you work part time. You may be covered on your husband’s insurance plan but if you are not married it becomes your responsibility. You may even have to rely on your state provided coverage for a short time.
Many times women overlook getting insurance on themselves because of cost. One emergency room visit can be a minimum of 1500.oo and an illness or surgery can run into the thousands. It is imperative to have insurance of some kind to help offset the cost of your medical bills and to protect the assets you are trying to build.
When looking into the cost of a healthcare policy, look for the monthly premium cost and the deductible for each health event. The amount of deductible can influence the amount of the premium and can be negotiable with some companies. It also may vary with an illness, a surgical procedure, or an office visit. Prescription coverage may be additional and so may vision and dental coverage. You choose what you feel is most important right now. It can be re-evaluated at a later date as you look at your financial plan.
Here is where your financial plan and your goals influence what decisions you make about insurance. If you have a hefty amount in savings and your emergency fund is where you want it, you may be able to consider a higher deductible amount on your health insurance.
If however, you do not have any in savings and your emergency fund is not padded, you will want to consider the minimum deductible or out of pocket expense temporarily.
Speak with your insurance representative to get a clear picture of the true costs and deductibles for an illness or emergency so you can prepare financially ahead of time. The important thing is to make an effort to get some kind of medical coverage for yourself as soon as possible. Make it part of your future goal to improve your health coverage as your financial situation improves.
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