Health insurance horror

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If you were like me in your 20s (or maybe you are 20) now you had little use for health insurance. I remember thinking that I would pay the $ 33 deduction per week of my paycheck just in case, but if they ever raise the price much more than that, I won’t give them another penny. As it happened, I worked for an important bank and they were able to keep the premiums fairly level throughout my 6-year career with them. Still, I paid more (and they paid much, much more) over the years than I got. Honestly, I don’t think I went to the doctor more than twice in my six years of group coverage.

When I was 30 I decided that I wanted more freedom in my work schedule and instead of selling investments and insurance through the bank, I was going to sell health insurance on my own. I knew I was going to need health insurance, “just in case,” hell, that was my main product now. However, given my past experiences with health insurance, I was in no hurry to get a new policy. After about 2 weeks in my new job, I applied for health insurance. This was before Obama Care (ACA) and it usually took 1 to 3 weeks to obtain approval for new health insurance. About a week after submitting the application I had a terrible accident. The only thing I remember in the ambulance is that the doctor asked me if I had medical insurance. After saying no, they took me to the county hospital where I was 4 and a half days. 2 months later, I lost commissions and a $ 72,000 hospital bill, I was ready to start working again with a story to warn others about the dangers of not having health insurance. The only time I really needed health insurance and I didn’t have it.

I may not have covered my medical bills, but one thing I always mention to my clients is how well the accident plan was worth. He had made a payment of $ 4.80 in the policy. Two weeks after leaving the hospital, I received a check for more than $ 10,000. If my health policy had been approved, I could have paid my deductible and left several thousand in my pocket to continue “putting food on the table” and paying the daily bills. I am very grateful for the accident policy, but the moral of the story is that a good health plan is something that both you and the doctor will pay. Do not wait too long to request health coverage, you do not want any coverage gap.

Even if you are only between jobs, waiting for group coverage or have simply not been responsible on that front in the past, get something. It doesn’t have to cost a lot. It may be a plan with a high deductible of $ 60. I’d rather have to calculate the payments of a deductible term plan of 7,500 than a hospital bill of $ 72,000. Do not spend a day without health coverage.

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