Medical Bills Can Be Handled
Deductibles and co-payments are not a problem to a healthy person. There is no great need to be concerned because health insurance is rarely used. However, accidents can happen and they do not always result in minor injuries. There are several circumstances where medical debt can pose a danger to financial wellness.
It Can Add to the Overall Load
It is reasonable for health insurance companies to ask the insured to cover some of the cost. These are in the form of co-pays and deductibles. Unfortunately, deductibles have increased to $5000 or more. Not everybody has to deal with a cancer operation, but a broken shoulder can result in a cost of well over $25,000 for the surgery. The deductible must be met before full insurance takes over. If for some reason treatment relating to the operation goes beyond the calendar year, then the deductible has to be met once again in the new year. Continue reading