Basic Cents, Features

Protect Your Health

By Samuel Rosenberg

THE health facts of people that do not own health insurance are extremely worrying. People who are uninsured will receive less medical care and probably later than it is required. The outcome of poor health issues will be more dramatic compared to insured people and the lack of insurance will cause greater financial burdens for their families.

The safety net of local doctors and hospitals providing care is a good starting point, but is no substitute for quality health insurance for your family.

Your local hospital will almost certainly help you immediately if you have an accident or emergency which involves immediate hospitalisation. If you have a heart attack or stroke, you know that you’re going to get dealt with immediately.

However, if you have an illness that is not deemed to be an emergency for a hospital to deal with, you might spend months waiting for your problem to be dealt with. Many senior people spend months on waiting lists waiting for replacement knees or hips, which then cause all of their health to deteriorate because they are unable to keep fit and exercise. When you hold health insurance cover, you would be able to nominate a hospital to carry out the operation for you in a matter of days, getting you back to peak health as soon as possible.

Being ill and waiting for your health authority to provide you with the assistance you need might cause a problem to your usual flow of income. If you work mending roofs, but an ankle injury prevents you from carrying out your tasks, you may lose your income and perhaps your client list, while you wait for an operation.

Health insurance is best purchased when you are young, fit and healthy as it will become more expensive as you become older and are seen as a higher risk to an insurance company when you are more likely to have to make a claim.

Screening of potential health problems for both men and women are substantially increased when health insurance is provided to cover the costs of the consultations and treatments. The difference between catching the onset of cancer growth this week, as opposed to a year’s time, might be the difference between life and death.

For women, screenings for cervical and breast cancer and for men, prostrate, are part of an essential screening process to help you maintain a prolonged healthy lifestyle. Testing for high blood pressure or cholesterol can solve problems years before your life is cut short. Although local hospitals provide great service for pregnant ladies, will having health insurance promote an increased level of service for your care?

No one plans to become ill, which is why many people decide against the purchase of health insurance and after they become ill, they may not be able to pass an insurance company’s exacting standards to receive the level of cover required.

Where you are able to include health insurance within your regular budget, you do increase the chances that you can live a more healthy and active life. Would you be better off spending a few dollars per month on health insurance rather than on those extra cable television channels that you never watch?

Samuel Rosenberg is the founder and CEO of Axcel Finance Ltd., the leading regional microfinance institution. Share your thoughts and email your questions to srosenberg@axcelfinance.com

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