The current financial crisis has led to a compromise by working families in their health care and insurance. A decline in the insurance coverage for adults under age 65, mostly from moderate income families, was reported by the Commonwealth Fund. More and more families forego health care and insurance as federal minimum wage is lowered, prices of basic commodities rise, and the costs of health insurance plans increase (Collins et al 2008). A trick to making your insurance plan more affordable is to consider your priorities. What would you want covered? Are there companies offering health insurance for low income families? It is more practical to first consider coverage for medical expenses incurred from accidents and known illnesses. Many insurance companies online offer health insurance for low income families.
For low income families, getting a health insurance seems almost impossible. But with the rising medical cost, not having a health insurance is unthinkable. In the United States, there are about 47 million people who do not have a health insurance because of its very high cost. The consequences of not having enough health insurance are the following:
1. Uninsured persons or individuals as well as their families are four times more likely to avoid visiting a physician than those who have health insurance for preventive or medical care because of the very high cost of doctors fees, prescribed drugs, and other expenses.
2. Uninsured persons are most often diagnosed with advanced stage diseases 30 to 50 percent than persons who are insured due to lack of preventive or medical care. Most often, their illnesses or diseases are taken for granted.
3. According to the Institute of Medicine, an estimated 18,000 uninsured adults die from preventable diseases every year.
4. Advanced-stage diseases are commonly experienced by individuals who do not have health insurance. According to surveys, 20% of uninsured adults are given health care only when theyre rushed to the emergency room. The cost of single visit in the emergency room is said to cost around $3300 on average.
5. About 1/3 of uninsured families said that they have difficulty in paying their medical bills that a change in lifestyle is the only solution to pay their bills. These families are unaware that they can avail health insurance for low income and that the easiest way is to look online for health insurance quotes.
Health insurance is both beneficial to your health and your wallet and that health insurance for low income families are being advised. If you have the right health insurance for low income you will definitely have peace of mind knowing that any emergencies that you would encounter anytime in your life wont strain your budget and wont drain your personal bank accounts. If you have enough health insurance, then you have less risk of visiting the emergency room because proper medical or healthcare are within their reach. People who have health insurance reduces the risk of having terminal illness because medical treatment are covered by their health insurance companies and they wont be worried about getting the money from their own pockets to pay the medical expenses in the event of an illness or a disease.