4 Excuses People Make for Not Getting Health Insurance

HEALTH INSURANCE



The Importance of Health Insurance

Conversations about overall health and hygiene have gained a lot of momentum in recent times. One of the important aspects of it is having a proper health insurance policy in place. With several benefits like cashless hospitalization, financial backup, and peace of mind, there is no doubt that a health insurance plan is a great idea. However, there are several people who are either uninsured or underinsured, and they just happen to have reasons for it.

>> Check: Best Family Floater Health Insurance Plan in India

Some of the most common excuses that people tend to make for not buying individual and family insurance plans are: -

Excuse 1: I Don’t Need a Health Insurance Plan as Long as I’m Hale and Hearty

The most common excuse people give is that they do not need a health insurance plan as they are healthy; they are unlikely to face any major health-related complications.

While that may well be the case, but a disease or illness does not discriminate. No matter how healthy you are today, you cannot predict the future. Juggling the demanding lifestyles of modern times has also brought in its share of lifestyle disorders, including diabetes, obesity, cardiac diseases, etc. So, it is always a better idea to be prepared for any eventuality.

>> Check: Why Invest in Health Insurance at an Early Age?

Excuse 2: My Spouse Has a Health Insurance Plan So I Don’t Need One

Many organizations offer employees family insurance plans that cover their dependents. Many believe that it is enough and do not think about supplementing the coverage offered by these plans. However, employee health insurance policies are not known for their comprehensive coverage.

Excuse 3: I Myself Have Employee Health Insurance

Even if your employer offers family medical insurance for you and your dependents, being covered under an employee health insurance plan is just not enough. There are several reasons for the same, the most important of which are listed below: -

You May Be Between Jobs:

Your employee health insurance plan is only applicable as long as you are working for the company. If you plan to switch your job, the policy will, of course, not be operational. If you face a medical emergency during this time, you will have no choice but to pay out of your pocket.

Policy Changes in Your Organisation

At the time the employee health insurance plan is being renewed, an organization may make changes to the policy coverage, like excluding critical illness coverage or removing maternity coverage. This is not something that you will have control over but will leave you exposed to risks.

Post-Retirement

As your age advances, your need for health insurance also increases. However, if you had relied solely on your employer’s health insurance plan until you retired, you will be left without insurance afterward. Having a family health insurance after retirement is very difficult and expensive as well.

All in all, while having an employer’s health insurance plan is not a bad idea, it is also important to have your own health insurance plan in place to make up for all that is not covered.

Excuse 4: I Can’t Afford a Health Insurance Plan

Not having a proper health insurance plan in place by citing a lack of finances is not ideal at all. If any sudden medical emergency arises, it will cost you much more than any premium you might have to pay for health insurance. In fact, for a health insurance policy, you just must pay the premium once for coverage for the whole year.

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