Health Insurance – Is it Worth It?

Rarely has a debate divided the United States as the most recent health care debate, where the Obama administration proposed and for the first time in U.S. history succeeded in overhauling healthcare to cover a greater majority of previously uninsured citizens. Of course, it seems that more time is needed before the new legislation becomes law and is carried out by the states, as some states have filed law suits challenging the legality of this new legislation.

Regardless of the outcome, healthcare and its associated costs are a reality we all must face in our lives. Just how much of a role the federal government ultimately plays in assuring at least minimal care for all its citizens is a game of politics and power plays whose final outcome only time will tell. In the meantime, it is our individual responsibility to take charge of this matter as it pertains to our own lives. A variety of scenarios influenced by numerous variables can come into play, where deciding if insurance coverage is right for you now, or later. One corner we rarely look after is pet insurance; imagine situation when your pet is seriously ill or met with an accident, you can eliminate financial burden caused by medical bills. Pet insurance is increasingly becoming popular among Americans these days! On an average, Americans spend over $24 billion per year on insuring their pets.

Of course, there is the case of saving valuable dollars now to cover other obligations at the risk that health care will not be necessary – a common roll of the dice among a younger and relatively healthier population with limited income. There are also those that begin with some coverage, only to have the premiums increase by more than 30%, year after year, until coverage is but a distant dream eclipsed by the reality of more immediate obligations such as food, shelter and education. Others are unable to qualify for coverage, due to a pre-existing condition, age or other circumstance raising the risk of coverage beyond feasible for an industry without a conscience but rather profits as a guide.

More often than not, insurance coverage is not a choice people can make but rather one made for them. Of course health care coverage is worth it, if you can afford it, find it or both. But if none are an option – what is left?