Can people like me afford health insurance?

Dear Doc,

My friend has been diagnosed with cancer and has had extensive treatment which amounted to over two hundred thousand dollars. She was fortunate to have health insurance. I looked around for insurance after her experience but found that the cost was out of m,y budget limit. Can people like me afford health insurance?{{more}}

Lucy

Dear Lucy,

Yes you can afford health insurance! The rate that you pay for insurance depends on the amount of coverage you need and thus it is possible to get insurance that gives you coverage up to a limited amount or covering specific areas. Doing that would mean that the cost is less, but you must me mindful of what coverage you will be compensated for and the amount. Some policies offer coverage for cancers only and can be a practical and inexpensive form of insurance for situations where other medical needs are taken care of otherwise; for instance, where there is a good public health care system.

Persons who are employed can benefit from group insurance. This is a very cost effective way of purchasing insurance and can allow you to get coverage for your spouse and children under age 18.

The concept is based on the company being the chief insured and each employee has to contribute an amount to be covered under the insurance policy. The larger number of employees, the less expensive is the cost per person or family. This is a very good way to also attract potential employees, as they appreciate this form of affordable insurance. Many companies even make the payments for the employees, without any deductions, a form of good employer/employee relationship. Many groups, like credit unions, police constabulary and other formal institutions, have this form of affordable insurance.

Doc

SVG Cancer Society,

P.O. Box 709, Kingstown.

Email: svgsocietycancer@gmail.com

Phone:526-7036