| For many people health insurance has become | | | | of your own pocket, and the percentage of |
| so expensive that they are forced to do | | | | your lab work and other medical expenses that |
| without it. Unfortunately this leaves them | | | | you pay. Increasing your copay from 25% to |
| wide open to the financially devastating | | | | 50% can dramatically decrease your monthly |
| effects of a catastrophic illness or a severe | | | | health insurance premiums. |
| accident, which can wipe out a lifetime of | | | | |
| savings and decimate other assets in the | | | | But even with these savings health insurance |
| blink of an eye. | | | | may still be too expensive for many people. |
| | | | Some people may be forced to re-think health |
| The health insurance crisis has gotten so bad | | | | insurance entirely and look at health |
| that almost 17% of all Maryland residents no | | | | insurance as a safety net for the protection |
| longer have any health coverage at all, and | | | | of your assets and not as a way to pay for |
| more than 50% of Maryland residents admit | | | | routine health care. |
| that keeping their health insurance is a | | | | |
| severe financial burden. It won't take much | | | | By this I mean people may want to look at |
| to push many of these people over the edge | | | | purchasing a low-cost high-deductible health |
| and create a health care nightmare. | | | | insurance policy. Such a policy, with a |
| | | | deductible of $2,000 or even $3,000, would |
| Fortunately there are things you can do to | | | | pay nothing at all for your routine doctor |
| help keep the cost of your health care down - | | | | office visits or routine lab work or most |
| and for many people it may be necessary to | | | | out-patient surgery. You would pay those |
| completely re-think the reason for having | | | | health expenses yourself. |
| health care insurance in the first place. | | | | |
| | | | Where your health insurance comes into play |
| But let's start with a few simple things you | | | | is any time you have a major illness or a |
| can do to help keep your health insurance | | | | catastrophic accident, the type of medical |
| premiums as low as possible. | | | | emergency that can cost tens or even hundreds |
| | | | of thousands of dollars in just the blink of |
| First, if your company offers group insurance | | | | an eye. |
| you need to consider participating in it. | | | | |
| Group insurance is almost always less | | | | In this way low-cost high-deductible health |
| expensive than individual health insurance. | | | | insurance is used only to protect your life |
| | | | savings, your home and other assets that you |
| Of course, if you are self employed or if | | | | may have acquired over a lifetime. |
| your company doesn't offer insurance then | | | | |
| this won't be an option. | | | | But whether you choose to go the low-cost |
| | | | high-deductible route or take the more |
| Don't smoke or use tobacco products - and if | | | | traditional path, the best place for you to |
| you already do, stop. The amount of money you | | | | get cheap health insurance is online. The |
| can save on health insurance if you don't | | | | multitude of health-insurance-comparison |
| smoke is significant. Think about it. | | | | websites makes it relatively quick and easy |
| | | | to compare policies and prices, allowing you |
| Consider increasing your current co-payment. | | | | to create the perfect policy for your needs |
| Your co-payment, or copay, is the percentage | | | | at a price that you can afford. |
| of your doctor visit charges that you pay out | | | | |