When it comes to essential insurance policies, health insurance is probably the first to come to mind for most people. It is arguably the most essential benefit your employer could offer you. In spite of its prevalence, it’s shocking just how many myths persist about this form of insurance. Here at Malden Solutions, we take pride in making benefits more comprehensible to a wider audience. That’s why we’ve laid out a few misconceptions about health insurance for you.
It Isn’t for Young People
One of the worst mistakes you can make would be to assume that, because you are young and healthy, you don’t need health insurance. The truth is that, in some respects, young people are more in need of it than the middle-aged. This might seem like a stretch, but keep in mind that young people tend to have a higher likelihood of being involved in accidents than older folks.
It doesn’t matter how young and healthy you are; if you get into an accident, you will need insurance.
It Will Cover Me Anywhere
You might think that, because you have health insurance, you can go ahead and make use of it anywhere. This can be a costly assumption. In the event that the facility you went to isn’t one of your network’s providers, you could end up with a hefty bill. Before you receive medical attention or treatment from any facility, you should do your due diligence and ensure that they aren’t out-of-network—or, if you are, that you’ll be able to meet the bill.
It’s Too Expensive!
If you’re about to come off of your parents’ healthcare plan, it would be a mistake to assume that health insurance is too expensive. For one thing, you will probably have to pay a fee if the ACA determines that you can afford insurance, but decide not to purchase it. But it can be surprisingly affordable.
Still, it isn’t free. Here are a few payments you will have to make:
- This refers to a flat fee you pay each time you fill a prescription or visit a doctor.
- You will have to pay this amount out-of-pocket before your insurance picks up the bill.
- Co-insurance. After you’ve met your deductible, you might still have to pay co-insurance. Typically, this is a fixed percentage of the total bill.
However costly you feel health insurance is, the truth is that it could be far costlier if you tried to go without it.
Partner with Malden Solutions Today
Malden Solutions has a wealth of expertise in providing employer insurance solutions, HR solutions, and individual insurance solutions to businesses both big and small. Our team of seasoned professionals can help you navigate the rapidly-changing world of insurance with ease. We partner with businesses and individuals throughout the country to provide our dedicated services for employee benefits but also work within our surrounding communities in Maryland, Northern Virginia, and Washington, D.C. Contact us today to learn more about how we can provide effective, dynamic solutions for your business. Stay connected with us on Twitter, Facebook, and Linkedin.