Any way you shape it, having ongoing health insurance coverage could be a financial lifesaver while assisting with medical care costs.
Colonial Life Insurance recently used a case example of how basic health insurance coverage can fall short sometimes and leave the victim with the hospital bill to pay in full.
The case involved an 18-year-old woman who was driving one day when she flipped her car and was thrown from the vehicle, sustaining internal injuries and a fractured spine. Following an airlift to a local hospital and surgeries to correct the injuries, she learned that the procedures were not covered by her insurance and that she had been left with the $34,000 bill by herself.
"Even some of the best health plans don”t cover all expenses," says Michael Scheetz, the assistant vice president for product development at Colonial Life.
Luckily, with the case of the girl, a voluntary addition to her basic insurance plan ended up helping her pay the bills off
While health insurance can be adjusted to increase one’s coverage over a more basic plan for a price, medical attention that is needed while the coverage has been discontinued due to a missed payment renders the additional expense as worthless.
If a family feels the need to properly protect themselves in case of any type of accident, but fall short financially on an important payment, taking out payday loan to cover a one-time cost could help to keep insurance coverage active.
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