Is Your Health Care Taking Care of You?

Is your health care taking care of you? Yes, Health Care Reform or Obamacare is now law and a tax. This means everyone will have options to protect their family or attempt to protect their families. Health Care Reform in my opinion helped many people that could not get coverage, but it will come with a hefty price tag. Some companies that had great insurance programs also had to rethink strategies when it came to covering you. Why? Well if the insurance companies are at a higher risk financially, they had to spread out their risks. This comes into increasing premiums even to the healthy individuals. Now, you may be thinking, but it has to be affordable. This is true if you have just the required coverage, and the fact is the deductibles are increased.Feeling Like You Have Been Left Out In The Cold?

(adsbygoogle = window.adsbygoogle || []).push({});
I have talked to many people and they thought they were covered, but after talking to them, the general consensus is they were not. When they looked at the co-payments and deductibles, many felt that just meeting the general sickness that a family would have or the broken bones, that they would be out in the cold and impacted financially.I have also been told that they feel like they are insuranced out. They say too many insurances being required. I get this. In a recent Harvard Study, it shows 80% of people are living paycheck to paycheck. So, if insurance is not covering them financially, they wonder what they can do. Taxes and insurance eat up the paycheck.How Do I Protect Myself?Let’s talk just one second about insurance. Property and Causalty (Home and Car typical) pays mortgage and auto companies to protect the assets. Now sure, your car insurance can pay medical cost of someone you are in an accident with but often you are left off the list of getting coverage to help you. Even if your auto insurance has medical for you, they are still paying hospitals and doctors.Then you have Life Insurance. Who will that pay? Well, definitely not you unless you have a policy that will pay you if you obtain a certain age. But it will pay for your final expenses and any extra will go to your beneficiary.Then you have Major Medical. Is that to help you? No! You get treated and then the doctors and medical facilities are paid. As I discussed earlier, you have additional costs that your insurance is not covering.

(adsbygoogle = window.adsbygoogle || []).push({});
The last is Disability Insurance and if you have an unfortunate situation, this is money that is paid to you. However, the government will not allow full income protection. Could you survive on a percentage of your pay especially when we saw the statistic of 80% living paycheck to paycheck.We also have statisitics that 60% of bankruptcies are due to medical issues and 77% of those people had major medical insurance.I know this sounds like there may be no hope, but there is. Just like with Medicare, you can find ways to supplement your insurance. Most supplemental insurance will send you cash for family living expenses if you are injured or illnesses. Such companies that can help you are Colonial or AFLAC. They are based upon indemnity plans where events that occur trigger cash payments to you.