Health insurance is growing very fast today. The growth will be supported by stand alone health insurance companies and new players entering healthcare market with improved healthcare infrastructure across the world motivating a larger section of population for better healthcare services through various healthcare insurance policies. Health Insurance is now careful essential in developed countries. In the current financio-social outlook of Bangladesh as well, Health Insurance has now become an essential, dependable, acceptable and the most cost effective means to make the modern treatment facilities affordable to all socio-economic classes of people, especially the fixed income group.
In reality, my health insurance rates keep going up annually. The rates are now the highest ever and, not to forget, the deductible is much, much higher.
Meanwhile, my health is fine and I don't see myself using much of the insurance anyway, except if something really horrible happens.
Oh, and one more thing. The people that DO pay for insurance indirectly pay for those that DO NOT pay anything for cost of care.
In the case of more people paying out of pocket for insurance and it being accessible to the a wider class range, why are rates rising if more people are paying into the pool? Something is inherently wrong with societal standards. I've witnessed one person receiving life-saving treatment that has virtually never worked a day even though there is nothing physically stopping the person, everything provided by welfare. Who eats up that bill at the end of a hospital stay? The consumers of health insurance policies.
The most cost effective means of insurance is setting aside a portion of your income monthly in anticipation of medical needs. Thus, after you've accumulated a large sum specifically for medical bills, it may prove to be a better investment of income instead of purchasing health insurance. Health insurance is a unique investment that depends on the needs of the consumer of the insurance. If a consumer expects very high bills, then insurance is viable. However, if needs are low and doctor visits few, then insurance is a waste of money when out of pocket pay-as-you-go costs are more effective.
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