5 Common Health Insurance Myths Explained
They used to tell us, “You can’t believe everything you see on TV.” But now that we’re doing everything online, this advice is more important than ever.
Here are 5 of the most common health insurance myths that you need to know about:
Health Insurance Myth #1: You Don’t Need Insurance if You’re Healthy
It doesn’t matter how healthy you are. Having health insurance can protect you from the exorbitant costs of an unexpected illness or injury.
Consider this: If you have an accident and need to visit the ER, you could be looking at a hefty out-of-pocket bill. Break your leg? Depending on the hospital, that’s about $5,000. Get sick and end up in the hospital? That could be as much as $10,000 / day.
Health Insurance Myth #2: Low-Premium Plans are Always the Cheapest Option
For many people low-premium plans are an effective way to free up some spending cash for things like groceries and bills. But because of the high deductibles, these plans can sometimes be more expensive in the long run.
If you’re enrolled in a low-premium plan, it’s important that you have a plan to meet your deductible if you get in an accident or get sick. It’s also important to stay healthy and use all your preventive care benefits.
Health Insurance Myth #3: Switching Plans Often is a Bad Idea
Choosing the best health insurance plan isn’t a one-time thing. It’s a decision that you need to make every year as part of your overall budget.
Plan options change every year. Even if you like your plan, there could be an opportunity to get comparable coverage for less. In addition, there’s no telling how your health needs are going to change over time. Switching health insurance plans can get you the additional coverage that you need, keeping your costs down at the same time.
Health Insurance Myth #4: Health Insurance is Only for Sick or Injured People
You don’t need to wait until you get sick to get the most out of your health insurance. These days, many health insurance plans offer additional benefits that are designed to keep you healthy and happy. These can include fitness center discounts, health tracking apps, and even incentive programs that can lower your premium.
Call your plan’s member assistance line to learn more about additional benefits.
Compare Pricing on the Best Insurance Plans Available
Health Insurance Myth #5: Traditional Health Insurance is the Only Option
With Healthcare Sharing Programs, Americans finally have an affordable, viable alternative to traditional insurance. Known simply as “Healthshare”, these programs are not insurance at all, but rather an innovative, community-based approach to healthcare. And even better, they’re usually about half the cost of unsubsidized insurance.
We’re Here to Debunk and Demystify Your Healthcare Misconceptions
Have questions about Health Insurance or Healthcare Cost Sharing? At HSA for America, we’ve been debunking healthcare misconceptions for decades, making health insurance easier and more affordable in the process.
Here are some additional articles on health insurance: Understanding Health Insurance: 13 Things About Health Insurance You May Not Have Known | How to Become a Healthshare and Health Insurance Expert by Watching These 4 Videos
Here are some additional pages related to this article: Control Your Healthcare Future with “How to Maximize your HSA” | Learn About Healthshare Plans
Mike Montes is a Personal Benefits Manager at HSA for America. His aim is to help you make smart and informed healthcare coverage decisions that will fit your needs and budget. Read more about Mike on his Bio page.