By: Elena Grace Flores
Unlike the United States, most countries do not penalize their citizens for not having health insurance – but for those who can afford it, not obliged to buy one does not mean people can save up. To the contrary, that could even spell disaster for them when illnesses or accidents occur – causing bodily harm that requires intensive hospitalization and care. Medical bills are number one expense that most people are having hard time to generate to the fullest. Often, they end up getting emergency loans or borrowing from other people or lending establishments.
It is a wise financial move to make it a point to buy health insurance especially when you do not have enough money for emergency. Besides, when you are ill, you really do not know for sure how much is enough. Health insurance is there to give you the peace of mind that when you are unable to continue raising money for the family temporarily regardless of what kind of disease hits you, you are covered!
Every head of the family ideally must get his or her health insurance and also extend the benefit to the whole family. Multinational companies normally offer this as a benefit to their employees but if your company does not include this in your compensation package, might as well pay for your own health insurance coverage.
Insurance costs vary according to coverage. Therefore, choose a health plan that is suitable for your lifestyle or family history. They are normally affordable when you pay once for the whole year for a satisfactory coverage that includes hospitalization in one of the accredited hospitals near your area. Most health insurances cover a fixed amount per disease. Do not wait until you get sick to get the insurance needed or else the premium will already sky rocket!