Unfortunately the burden of health care and medical insurance has many faces. One that is of great concern today is the soaring financial cost of illness itself. For instance, during a recent year, 500 million workdays were lost in Europe because of sickness. And the situation is similar in the US.
In order to offset costs, businesses are forced to raise product prices and governments increase taxes. Who pays? Ultimately, you do!
In the case of building a successful business, we all know that’s hard work in itself so finding affordable, quality medical insurance shouldn’t add to that burden. Whether you’re self-employed and working out of your garage or the owner of a small business with one to multiple employees, you face special challenges when it comes to finding and acquiring health coverage.
But Why Bother With Medical Insurance At All?
Three main reasons come to mind: financial protection, health protection and business protection.
Financial Protection Advantages: If considering group health coverage you are entitled to discounted rates for medical care as insurance companies will negotiate rates with health care providers. Without coverage, office visits would be doubled in price.
Health insurance also shields you from unexpected medical costs – even above and beyond out-of-pocket expenses – which can help save you from bankruptcy in cases of injury or sickness requiring hospitalization.
Health Protection Advantages: As a health insurance member you have access to a broad network of quality health care providers. And in the case of critical care you can continue to receive treatment for a life-threatening chronic condition without an up-front payment.
With regular checkups and preventive care you save money by pursuing a healthier lifestyle.
Business Protection: Whether self-employed or a small business owner, unexpected personal medical expenses can cripple your business so by limiting your personal liability for medical costs, health insurance can help ensure your business is still viable and productive.
Quality employees gravitate towards an employer-sponsored group health insurance coverage program offered by your company so both you and they enjoy the mutually beneficial relationship.
So though different people have difference insurance needs, even these can change over time. Keep yourself informed and up to date when it comes to 2010 health reform legislation which provides you with special opportunities. That way your business needs are assessed and you’ll be armed with the right tools in finding the best medical insurance solution.
