Comparison of Advantages and Disadvantages of Health Insurance
Advantages and disadvantages of health insurance - Health insurance is no longer a strange expense for society, and health insurance benefits have been proven, but the sundries of purchasing and using insurance services are still a financial dilemma for many. Paying insurance premiums is a significant expense for some people, so many are still thinking about the advantages and disadvantages of buying insurance.
Since insurance is a financial services product, there are aspects of the advantages and disadvantages to think about, especially if you have to strictly manage your budget. Advantages and disadvantages of health insurance should be part of routine financial planning, primarily because the benefits should be tailored to the price and type of protection.
Disadvantages and Advantages of Health Insurance
The best way to decide whether or not to buy health insurance is to look at the profit and loss. Here are some benefits of buying health insurance (apart from life insurance):
- Health insurance has more specific protection options from life insurance with additional protection, but at a cheaper price.
- Health insurance has a choice of inpatient, outpatient, critical illness, even dental care and various types of specific therapy. You do not have to worry about lack of money when sick and have to accept expensive procedures.
- Health insurance can be a means of investment (if the company provides insurance options with investment), so if not used, you can take cash benefits.
Health insurance benefits
Health insurance is a safety net that gives you a sense of security, because you know there will be help when you are sick and have to undergo a procedure or be hospitalized. However, although the benefits of health insurance are clear, there are some disadvantages of buying health insurance services:
- The cost of the premium can be quite large, especially if you bear someone else in the policy (eg wife and child). You obviously can not just pay the basic premium if you want more protection.
- Not all insurance companies provide health insurance plus investment options. This option is usually given on life insurance, so if you do not use health insurance for a long time, you do not get the benefits of cash.
- Some procedures may not be covered by the insurance company, but it could be the procedure you need, so your insurance is in vain.
By looking at all these considerations, you can find out whether the decision to buy health insurance is the best option or not.
Benefits of Health Insurance for the Company
If you own the company, providing health insurance for employees is no longer an option. In addition to meeting government regulations on health insurance for employees, the benefits of health insurance for companies are financial assistance when companies have to guarantee employees who have accidents in the workplace, especially if the type of employment of employees is a big risk.
In addition, the quality of health insurance provided by the company is now one of the considerations of prospective employees in finding a job. You will win employee loyalty if you have health insurance for employees. If you are an employee, taking a health insurance service provided by a company is a distinct advantage. The company pays most of the premiums for various health and maintenance procedures, so you are much more relieved in terms of health care and protection.
You can also choose the preferred type of hospital, as long as the hospital is registered. The benefits of health insurance can far exceed the losses and expenses you should bear, provided you choose the type of insurance that suits your needs and family.