Lately with all the talk of health care reform I have had people ask me whether they should get health insurance now or wait until we see what the government is going to do. Personally, I don’t think you should wait on the government to do anything – a) because we don’t know how it could change, b) how soon it will start (some provisions don’t start until 2018), and c) what the lasting effects will be. What we do know is that if something unexpected happens health-wise today and you don’t have the right coverage in place, it could be financially devastating.
Decisions should be made based on your risk now, not on what might happen if the government decides to make changes to the system. Many of the people I talk to who are uninsured are in that situation because it either isn’t a priority or they think it’s too expensive. These same people usually have a nice cell phone and/or drive a nice car and are telling me this over a cup of coffee at the local hang.
I say it’s more expensive to not be insured – like my friend who broke her ankle, didn’t have any health insurance and faces a $27,000 hospital bill. The hospital gave her the good news that as an uninsured patient she may qualify for a discount of up to 15% off! When it comes to the cost, as long as you dont expect your health insurance to cover every possible medical expense it can be pretty reasonable. Just today I quoted a higher deductible plan for a 35 year old male that was under $85 a month. I would say that is pretty reasonable.
Whatever form the health initiative takes, it will in the future mandate that everyone carry health insurance or pay a fine. It’s going to have to be a priority for everybody, much like auto or homeowner’s insurance is. So my advice is to go ahead and get the coverage you and your family need and not wait around trying to guess what the government will do next.
