Health Insurance

All financial goals and even life savings can be significantly depleted or even ruined in an instant with an unexpected illness or injury.  Not only does one have to deal with the cost of the resulting health care but also the potential financial loss due to the period of unemployment when one is ill or injured.

Why is it important?

It is important to protect your financial future with health insurance just as you would protect yourself and your family from financial losses with homeowners or auto insurance.

Below are examples of the costs that a trip to the hospital can run:

  • The average cost of a trip to the emergency room for an adult is about $700, not including any tests or hospitalization, which may increase the bill to well over $1,000.
  • A broken leg can cost up to $7,500.
  • Average expenses for childbirth are up to $8,800, and well over $10,000 for c-section delivery.
  • The total cost of a hip replacement can run a up to $32,000. **

What kinds of losses are covered by health insurance?

There are four categories of losses or costs to you when you have an illness or injury:

  1.  Expenses for direct medical care
  2. Losses resulting from the need for recuperative care
  3. Losses resulting from the need for rehabilitation
  4. Loss of income while the patient is unable to work

To protect from these major losses, health insurance can reduce what you are required to pay out of pocket and help pay for or provide reimbursement for health care expenses and/or losses.

What types of policies are included in health insurance?

The following elements are part of a whole health care plan:

  • Hospital Insurance
  • Surgical Insurance
  • Medical Expense Insurance
  • Major Medical

A comprehensive health insurance plan combines the protection of the basic and major medical plans bulleted above.

Other policies that can be included in a health plan is:

  • Dental Insurance Plans
  • Eye Care Insurance Plans

Many may not realize how costly medical bills are, however, it is reassuring to know that, with the right plan, you can protect yourself from large financial losses and surmounting medical bills and give you reassurance that you are covered in cases of illness or injury.  Talk to a licensed Western States Insurance professional at our office in Spanish Fork Utah to find the right type and amount of coverage for your personal and family circumstances. For a health insurance quote, contact us for a comparative review.

**Blue Cross Blue Shield statistics 2012: Retrieved from http://www.bcbsil.com/getting_started/health_insurance/why_important.html

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