Big Mistake- Not Paying Your Insurance Premium


Health is often taken for granted. When you’re healthy, you think you’re going to stay that way and debate whether or not the exorbitant amount paid monthly for health insurance would not be better spent. In today’s poor economy, many people are leaning towards this decision. However, one needs to think of the consequences if for some reason their health fails. Health costs are rising and will continue to do so; can you absorb 100% of those costs if you find yourself needing health care?If a health insurance premium has not been paid for a period of 90 or more day, the policy is considered to have lapsed. If coverage is then desired, there may be difficulties getting another policy especially if there were any pre-existing conditions. Sometimes getting another policy after one has lapsed may cost more than the original policy that was in place.After obtaining a health insurance plan you may find you will have a waiting period before certain procedures are covered. This is to determine if there are pre-existing conditions existing and in some cases the policy will specifically state there will be no coverage on a pre-existing condition or anything that relates to the condition.Insurance companies try minimizing the known risks in covering a person. If a healthy person has a policy there are statistics that determine the amount that the insurance company will have to pay to cover that person. Obviously, if the person is healthy the chances are they may only have to pay for an annual exam, the occasional cold versus someone who is sick and requires a great deal of medical treatment.The greatest disaster for a person who lets their health insurance lapse is to be diagnosed with a terminal illness. The chances of obtaining a new health policy with this knowledge maybe near impossible to get and then you are faced with bearing the costs by yourself in addition to trying to get feel better. So the next time you think of dropping your health insurance, think again.
Article Tags:
Insurance Premium, Health Insurance

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There has to be more knowledge about how important Student
Health insurance is. Everyone that goes to school has health
insurance for students without a doubt.

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