Health insurance isn’t something most people like to think about – until they need it, that is. Unfortunately, the time and effort you put into understanding it can make all the difference between seeing your investments in health care pay off and having them go straight down the drain. If you’re looking to learn more about health insurance but don’t want to wade through reams of confusing information, here are 10 myths about health insurance that you should ignore before it’s too late!
Myth #1: Health insurance isn’t important
One of the biggest myths about health insurance is that it isn’t important. This couldn’t be further from the truth! Health insurance is one of the most important investments you can make for yourself and your family. Not only does it help protect you from financial ruin in the case of an accident or illness, but it also gives you peace of mind knowing that you’re covered.
Myth #2: If you have health insurance, you won’t get sick
You might think that having health insurance means you’re automatically protected from getting sick. But that’s not necessarily true. While your health insurance may help cover the cost of treatment if you do get sick, it won’t necessarily prevent you from getting sick in the first place.
Myth #3: My job will take care of me
Your job might offer health insurance, but that doesn’t mean it’s the best option for you. Employer-sponsored health insurance can be expensive, and it might not cover everything you need. If you’re looking for comprehensive coverage, you might be better off buying your own health insurance policy.
Myth #4: I don’t need health insurance because Medicare covers everything
One of the biggest myths about health insurance is that Medicare will cover everything. While it’s true that Medicare does cover a lot, there are still some things it doesn’t cover. For example, Medicare doesn’t cover long-term care, dental care, or eye care. Plus, you may still need to pay deductibles and coinsurance. So while Medicare is a great program, it’s not a substitute for health insurance.
Myth #5: Medicaid only helps poor people
Medicaid is a state and federal program that helps with medical costs for low-income people, pregnant women, people with disabilities, and the elderly. In some states, it also covers children. Despite what you may have heard, Medicaid is not just for poor people. In fact, many middle-class families rely on Medicaid to help pay for long-term care for a family member who is disabled or elderly.
Myth #6: Student health plans are all alike
Student health plans are not all alike. Some plans may be better than others, depending on your needs. It’s important to compare plans before you purchase one to make sure you’re getting the best coverage for your needs. Make sure that the plan includes a good deductible and maximum out-of-pocket costs, since those factors can affect how much you’ll have to pay if you use your insurance. In addition, it is important to find out if there are any age restrictions (e.g., only covering people up to age 25).
If these things sound like they would be an issue for you or someone in your family, then student health insurance might not be right for you!
Myth #7: If I have good coverage, my employer will pay for it
Most people believe that their employer will pay for their health insurance, but this is not always the case. In fact, many employers only offer partial coverage, and some don’t offer any coverage at all. If you’re lucky enough to have an employer who does offer health insurance, it’s important to remember that they may not always pay for the entire cost of your premiums. Make sure you understand your coverage and what your out-of-pocket costs will be before enrolling in a plan.
Myth #8: Private health insurance is too expensive
Many people believe that private health insurance is too expensive, but this isn’t always the case. In fact, there are a number of ways to get affordable coverage. The Affordable Care Act ensures that those with pre-existing conditions cannot be denied access to care. There are also subsidies available through the state and federal exchanges for individuals who earn up to 400% of the federal poverty level (about $46,000 per year). Some employers also offer group plans at discounted rates or even free, depending on company size and type.
Myth #9: No one cares about my health but me
It’s easy to think that no one cares about your health but you. After all, you’re the one who has to live with the consequences of your choices. But the truth is, there are people who care about your health – your family, your friends, your doctor. They want you to be healthy and happy, and they’re willing to help you get there. So don’t believe the myth that no one cares about your health but you.
Myth #10-11) Conclusions and Suggestions
Despite what you may have heard, health insurance is not a scam. It is a necessary part of life, and it can be very beneficial. There are many myths about healthcare coverage that people believe to be true, but the reality is that most of them are misconceptions that don’t even apply to many people. Take the time to educate yourself on the truth about health insurance before making any decisions for your own future or for your family’s future.