Common Health Insurance Myths and Misconceptions

There’s no doubt that health insurance and coverage is important – this is not a myth. Having health insurance could wind up saving your life in many different scenarios. For instance, if you get injured or diagnosed with a life-threatening condition, your insurance policy will cover you so that you don’t have to come out of pocket on exorbitantly expensive medical bills. From surgical procedures to medication, the healthcare industry is costly. Some conditions, like cancer, can cost thousands of dollars a month to battle. This is why it is important to have medical insurance, but it is also the reason why you want to debunk myths and clear up misconceptions. Here are some common health insurance myths and misconceptions.

  1. All of your medical expenses will be covered with health insurance. This is one of the biggest misconceptions – people believe that just because they have insurance, they don’t need to pay any out of pocket costs for care. This is not true – you will have copays and deductibles that are calculated by the terms of your insurance plan. You must pay these reduced rates by the date stated on the bill.
  2. A health insurance company’s job is to provide you with medical care. There is no oath or amendment that says a health insurance company must provide medical care. Medical insurance companies are merely businesses that provide a service – they are merely trying to protect their assets. An insurance company can easily deny you coverage for certain procedures – even if your condition is life threatening.
  3. Comprehensive coverage plans are getting more affordable. A comprehensive coverage plan is a top-of-the-line plan – they are expensive to maintain and many people can’t afford them. If you need help choosing a health insurance plan, affordability is definitely something to think about. There may be a misconception that as healthcare becomes more universal, these types of plans will become affordable, but that just isn’t the case. Premium health insurance plans require incredibly high monthly and yearly costs.
  4. I won’t be able to get insurance if I have a preexisting condition. This is a big misconception that people have. They think that if they have some kind of preexisting condition, that getting approved for a health insurance plan is impossible. The truth is that health insurance companies deny people for coverage based on risk – if you can prove that you have a low risk for relapse or symptomatic return, you still have a chance of getting approved.
  5. My children don’t need coverage because their medical care is free. This is not true – your children need coverage just like anyone else, or else you will be paying out of pocket for their medical expenses. When it comes down it, the insurance policy that comes with your job may cover your children, but if you have a private plan, there is a good chance your children aren’t covered. It is important to make sure you do your research – just to make sure.

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