Medical Insurance: Is It Really That Important?
Putting off important decisions in life is an easy but unfortunate solution for
offsetting medical bills. While health insurance is an expense that makes some
people grit their teeth, having it in place when it is needed can literally save
millions in medical bills that would otherwise have taken more than a lifetime
to pay off.
Jack
Thompson was a healthy man, 35 years of age and in great physical condition. He
ate right, exercised daily, and did his best to maintain a positive outlook on
his life. Jack didn't want to spend the extra money on individual health
insurance because he was saving for retirement. He had a good emergency fund in
place. Jack had everything in his life on track to meet his goals.
When Jack woke early on a Sunday morning, he noticed a lump that hadn't always
been there. Thinking nothing of it, he started his day and tried not to think of
what the lump might mean. A short time later, Jack started getting sick more
often and finally scheduled an appointment.
When the doctor gave him the devastating news, Jack was floored. Cancer. The
treatment would cost hundreds of thousands of dollars, possibly even millions,
but it had to be done. Desperate, Jack called every insurance provider he could
find, but quickly found that he couldn't afford the high-risk premiums that he
would be charged to start up a plan.
Jack Thompson went ahead with the treatments, depleting his savings and
retirement, and he continues to this day making payments that will never cease
in his lifetime. Unfortunately, Jack didn't plan ahead, but he now travels
across the country helping others to learn from his mistake. Buying individual
or family health insurance may seem expensive, but the benefits it provides in
early detection, prevention, and treatment far outweigh the increasingly
reasonable costs.