Importance of Health Insurance:  Incase you get sick or need any kind of medical attention.  Can you afford to pay for a doctor’s visit without insurance?  Depending on the type of doctor and practice it can cost from www.lifethenfinance.com 2 $95–$265 per visit.  Insurance co-pays: $5–$50 per visit.  Are you certain you won’t hurt yourself or catch some type of cold?  Do you have allergies, wear contacts or need any other type of regular prescriptions?  Can you afford those medications without insurance?  On average prescription generic medications start around $50.  Insurance co pays usually around $5–$20.

1. Health Insurance
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www.lifethenfinance.com

2. Importance of Health
Insurance:
 Incase you get sick or need any kind of medical attention.
 Can you afford to pay for a doctor’s visit without insurance?
 Depending on the type of doctor and practice it can cost from
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$95–$265 per visit.
 Insurance co-pays: $5–$50 per visit.
 Are you certain you won’t hurt yourself or catch some type of
cold?
 Do you have allergies, wear contacts or need any other type of
regular prescriptions?
 Can you afford those medications without insurance?
 On average prescription generic medications start around $50.
 Insurance co pays usually around $5–$20.

3. Health Insurance:
 Paying health insurance premiums can seem like a waste of
money especially for those that are healthy.
 However having health insurance will protect you from sky-high
medical bills if injured or if you experience a sudden illness.
 It is tempting to think, “I’m young and I never get sick,” and
not to take health insurance if you have to pay for it.
 Don’t do this. You may be young, but you can break your leg
snowboarding just as easily as anyone else.
 Any catastrophic accident or illness could lead to bankruptcy if
one is does not have insurance
 It happens to a lot of people each year. Don’t be one of the 47
million uninsured Americans who play Russian roulette with
their health and finances.
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4. More about Health Insurance:
 Most employers provide health insurance but you
have to pay a certain amount of the insurance
premiums through their paycheck.
 Health insurance is a form of risk management
that individuals use to protect themselves against an
unpredictable health loss.
 An insurance policy is a contract between an
individual and an insurance company that transfers
that loss from the individual to the insurance
company for a fee.
 All policies are not the same and should be reviewed
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carefully.

5. Health Insurance: What you
need to know
 Doctor and medical facility availability:
 An individual needs to make sure the doctors, hospitals and medical
groups they want to use are contracted with their insurance company.
 Premium (monthly cost):
 This monthly fee, which is paid by the individual, should be affordable
and the individual should be able to maintain that premium over a
period of time within the individual’s budget.
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 Deductible:
 The amount that the policyholder must pay out-of-pocket before the
health insurance plan pays its share.
 Co-payment:
 The amount that the insured must pay before the health plans pays.
This is a lot like a deductible but is applied to individual services, which
are usually waived from the deductible (except for prescription drugs).

6. Health Insurance: What you
need to know…. Cont….
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 Exclusions:
 Not all services are covered in some plans. A lot of new plans
do not have coverage for maternity or brand name prescription
drugs. These exclusions can lower premiums.
 Out-of-pocket maximums:
 This is the amount where the policy holder’s obligation ends
under coinsurance and the insurance company pays 100% of
the cost.
 Health insurance policies can be very confusing.
 It is best to find an insurance agent who specializes in this kind of
coverage and meet with them to review the details.
 Insurance plans are no more expensive using an agent than
going direct.

7. Medical Bills
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 Fact:
 Medical bills are the leading cause of
bankruptcy and these bills can be
avoided by having medical insurance.