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Health Insurance - part of a financial plan
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Definitions of Terms


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What Is Health Insurance?

A policy that will pay specified sums for medical expenses or treatments. Health policies can offer many options and vary in their approaches to coverage.

Do I Really Need Health Insurance?

Yes. "Very few people dispute the need for medical insurance. With skyrocketing medical costs, it's an absolute necessity in today's world." - Ginger Applegarth, MoneyCentral.msn.com, 4/8/04

What Happens If I Do Not Have Health Insurance?

"The National Academies' Institute of Medicine has reported that lack of insurance often means people simply do not get care for serious medical conditions. Uninsured women with breast cancer, for example, are 30 to 50 percent more likely to die from it than are insured women." - ConsumerReports.org, 1/1/04

So If I Get Sick and I Don't Have Health Insurance What Happens?

You will have to pay for any medical treatment and it is expensive. "The uninsured are being squeezed as never before to pay for the care they do get. The bill, of course, isn't merely a deductible or co-payment - it's the entire cost of care; there is no insurance company to share the cost. Bills for care in doctors' offices and hospitals are often far higher than what an insurer would pay for the same services on behalf of someone with coverage. The uninsured have no one to broker deals for their care. So patients with very low incomes now help subsidize the lower premiums for more affluent patients who do have insurance." - ConsumersUnion.org, 8/10/00