Is your health insurance worth it?

Discussion in 'Life & Health Insurance' started by Gelsemium, Mar 17, 2014.

  1. Ray1

    Ray1Well-Known Member

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    Frankly speaking we have never claimed anything from our health insurance service provider because we had never been admitted in a hospital for a serious problem. Our health insurance service providers pays only when you stay in a hospital for a sudden illness but not for routine diseases. But irrespective of terms and conditions we pay every year because you never know what could happen in future.
     
  2. Vinaya

    VinayaActive Member

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    I don't have health insurance. In fact, health insurance is a new topic in our country and the government is still formulating laws. If there was health insurance available, I would have certainly bought it. I am very healthy now, however, you never know when your body begins to cheat you. Thus, health insurance is very important.
     
  3. Ray1

    Ray1Well-Known Member

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    I agree with the fact that you never know when you may meet an unwanted situation and need health insurance but here is an interesting equation for your kind consideration.
    I am insured for 2 lac INR which is equivalent to roughly US$ 3000. I pay about $200 per annum and have never claimed anything so far so I get 5% extra amount every year or the value of my insurance is about 2.4 lac now. I have already paid INR 1 lac so far and at the same rate it will be almost same amount in next couple of years what I am insured for. I think I should have deposited in recurring deposit to make better use of my money.
     
  4. Jamille

    JamilleActive Member

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    The only health insurance I have at the moment is the one issued by the company as part of our benefits. If not for this, I would have been satisfied with the basic national health insurance system as private health plans are quite prohibitive in terms of premium. When it covers dread disease, it gets even more costlier. The national health insurance system of my country only requires payment of $4 a month for the self-employed but it can cover hospitalization room, outpatient medicines, professional fees, and a percentage of the cost of procedures. The company health insurance is tied to the national insurance such that they only pay the difference. I don't think the private health insurance is worth it. I'd rather save the money on my savings account and pay the difference myself if and when I need treatment in the future.
     
  5. Ray1

    Ray1Well-Known Member

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    Our government has recently started insuring everyone with a saving account in a bank for a limited sum but the insurance is not for general treatment but paid in case of accident or in case of death. Our country does not provide any health insurance to all its citizen but it is available to only government servants.
     
  6. ptahm22

    ptahm22Active Member

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    A health insurance can seem like a waste of money especially when you don't get sick more often. That's why it's good to analyse your health situation before going for insurance. But you should consider the fact that no one predicts nature, you don't have to be sick, you can have an accident. I don't mean to be pessimistic but some expenses can't be avoided.
     
  7. Ke Gordon

    Ke GordonWell-Known Member

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    I don't even know what the status of my insurance is. I have Obamacare but I haven't paid any of thecurrent premiums since I can't afford them. I think the whole thing is in limbo right now. I know one time I used it at the doctor it was supposed to cover the office visit and it didn't!
     
  8. Zero

    ZeroActive Member

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    It might not seem worth it for small procedures or just for buying medication, but it's importance is displayed when you need a major procedure that costs a lot of money.
     
  9. Ray1

    Ray1Well-Known Member

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    I must say I am unlucky for the time being because I am in another country and have to pay for health insurance in both the countries that is the one where I belong to to keep it going (there is no provision to suspend it) and the one where I am living right now. The only good news is that my employer pays part of the premium amount for my insurance here.
     
  10. explorerx7

    explorerx7Active Member

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    I have a participating health insurance plan, therefore, my benefits under the plan are subsidized. Even though I have not had to visit my doctor on a regular basis so far, I believe it's good to have this plan because it can really provide much-needed assistance in making the treatment costs more affordable whenever the need arises.
     
  11. Shine_Spirit

    Shine_SpiritActive Member

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    So far it has been very worthwhile (in all aspects, including financial), and I have no major complaints. Having health insurance is extremely important... But unfortunately it's not everyone who can afford it. :(
     
  12. luri

    luriActive Member

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    I have life insurance, but not health insurance. Health insurance is relatively a new phenomena in my home country. The government announced health insurance program last year and this is only available in few cities. When the program comes to my town, I will surely subscribe to health insurance. According to the current health insurance plan,. by paying $25 a year, you will get benefits upto $500.
     
  13. Jasmin Cottontail

    Jasmin CottontailActive Member

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    We don't have health insurance as well and we seldom go to the doctor for check ups. I think health insurance is important but most of them are a bit expensive and won't cover it all. There are companies that provides health insurance for their employees and I think it's a good benefit. However, since I'm self employed, I don't think I'll be getting a health insurance and we've been living for more than a decade without one and we're fine with it.
     
  14. Nakitakona

    NakitakonaActive Member

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    For me, I am greatly satisfied with my health is insurance since I had my teaching job. Every year we are required to have our physical examination of our general health condition and my insurance is the one shouldering the laboratory tests. I don't have to worry about it. My co-teachers who don't have a health insurance have to pay much for their health examinations. The other benefits I could get from my health insurance is when I get sick there is an accredited doctor to check me up and an accredited hospital to take care of me in case I would be confined. All the hospital expenses and doctor's fees are paid by my health insurance company.
     
  15. wallet

    walletActive Member

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    We pay 15 dollars for health in our hospital state, to a private we pay over 50 dollars. We are forced to pay those 15 dollars but we are treated like shit in our hospitals, we must give bribe to the doctor and there were cases in which a doctor let its patient die because it didn't give him money. So, I think I would pay 50 dollars to a private and be treated like a human.
     
  16. larryl332

    larryl332Active Member

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    If you think about in terms of thirty dollars a month, so 360 a year, would probably actually be close for going to the doctor a couple times a year, which is absurd on its own but that is a different story. When you think about the what if though and what may happen, that is when the security comes into play and that is worth a lot.
     
  17. Happyflowerlady

    HappyflowerladyActive Member

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    I think that a person's age, overall health, and their lifestyle all play a part in whether a person need extra health insurance or not.
    Most people in the workforce, who work for a large company, will have a sponsored health insurance program that they can opt into, and the employer pays at least part of the premiums each month.
    Even if you are young and healthy, if you have an active lifestyle, there is also accidental injusry to be considered. Your workers comp may cover it if you are injured at work, and it probably doesn't hep at all if you are out hiking and fall and break your leg.
    I had almost this very thing happen to me, and it was from a fall off of a horse, and I ended up with a badly broken leg and shattered bones, and it took over 6 months of wearing a cast before I was able to go back to work again.
    My doctor and hospital bills were actually more money than I even made that year, and if I had not had the insurance, I would have had no way at all to even pay the bills .
     
  18. Alexandoy

    AlexandoyWell-Known Member

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    I once had taken a health insurance when I was dealing with my gastritis. The health card for one year costs $100. In that year, I had been to the doctor twice for consultation the costs me the equivalent of $10. Seeing the big discrepancy, I stopped buying health insurance until now. But since I am already a senior, some friends are advising me to get a health insurance for it can save me money when I am hit with a serious ailment.
     
  19. Heatman

    HeatmanActive Member

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    Yes of course. I believe my health insurance is worth any penny of it, as they say that health is wealth. Anybody who truly care about his health condition and upkeep would ever belittle health insurance because of the benefits and convenience it affords to such person.

    Having health insurance would save you a whole lot of stress and uncertainty during your trying ill conditions. It makes your access to medical care a lot easier, you won't have to worry about having cash at hand in order to get a good quality medical care.

    Most developing countries and it's citizens fail to take the advantages of getting health insurance, they basically see it as a complete waste of time and money but they are absolutely wrong because I have witnessed some situations and events whereby someone would be totally helpless because of lack of money and no health insurance while in delicate health condition. I just hope my people wisen up and appreciate the benefits that comes with having health insurance.