Health Care – How can we afford it?

How often have we heard someone say: “I can’t afford to get sick?” Well since we don’t get to choose when we get sick, often when we are faced with serious health issues it is just a matter of finding the funds to pay for it all.

How much does it cost to be sick?

The cost of good health can cost an employed person earning below minimum wage to spend more than half his salary. Regular doctor visits can range between $4000 – $9000. That means that the money is coming from some other fund which will now be empty.

So how can we prepare for these kind of situations?

There really are very few persons who can afford health insurance.  Even those who are salaried employees find that investing in an insurance scheme puts a strain on their budget.

These schemes can cost up to $20,000 a month and it might be tempting to opt out especially if you are in relatively good health and strapped for cash.  It makes sense however to consider that illness often strikes without warning and it pays to have a way to pay for any health related costs.

Insurance

In my opinion it is much better to put aside the insurance money in small amounts than be in a situation where you have to take out a loan to pay hospital bills.  There are different types of health insurance that are available to consumers.

One type of insurance offers consumers who contribute to the health scheme a reduction on doctor visits and other medical tests.  This type of insurance also covers some of the cost of drugs prescribed by the doctor. This is a great type of insurance for those with young families and no serious health issues.

Another type of insurance covers critical care.  This type of insurance does not cover regular doctor visits but instead focuses on if you are diagnosed with a serious illness. This insurance provides for the costs associated with diagnosis and treatment of chronic diseases.

Therefore, this type of insurance is harder to pay for since you might not feel a need to pay premiums for a disease that you may or may not ever contract.

Costs

So what kind of insurance should consumers with limited funds choose to pay for? Well ideally both critical care and regular health insurance are important. However if funds are an issue there is still something that you can do.

The National Health Fund, is a government run health scheme that does offer some ease to consumers.  If they qualify consumers can access these funds to pay for selected prescription medication. There is no cost to sign up and you can find out about the conditions they cover on their website.

Let’s hope you keep healthy but if not make arrangements to put aside funds to pay any unexpected medical bills.

What’s your take on the issue? Let me hear from you!

Teri Ann Renee Paisley

Gleaner online writer

Tags: costs, health care, Insurance