Why should we get any kind of insurance? Well insurance is a protection against many dire circumstances, which may come into our lives and create disastrous complications to our mental, physical and financial existence. Insurance provides for a safer, better future for us and our loved ones to have a great life. Life doesn’t always go along smoothly and if we don’t prepare, our lives may feel like they are falling apart. We usually get car insurance when we purchase a car to protect us in case of an accident, and particularly from other drivers that do not carry insurance. Many people are out there driving cars without insurance and with no fault insurance, this can be a big problem.
Then there are life insurance policies to help pay funeral costs when we die. This helps our family to help pay for these numerous expenses when passing away. Funeral costs keep rising every year and this can cause a large burden and tension on our families, if there is not enough money for those expenses. Then we come to health insurance. Explore your Health insurance options. This we need in the present moment. Physician and hospital costs have accelerated considerably every single year. We need to protect ourselves from disease and illness that may affect our lives now and in the future. We cannot predict what may happen with our Health insurance options, but we can protect ourselves from the tremendous expenses we might have to face.
Health insurance will protect you for a 365 day stay in a hospital. After this time frame, we may need to apply for an extension of 90 days as a short term plan. Getting a short term plan will not help you keep from getting a penalty when filing your income tax, as we must all have health insurance. As we reach the retirement age of 65, we are able to get Medicare Part A and Medicare Part B. Medicare Part A will help with physician fees and Medicare Part B will take care of hospital expenses. You will need to get Medicare Part D to help with prescription costs. We may think we are all set with these plans, but Medicare will only pay 80% of the medical costs and the remaining 20% will have to come out of our pockets. To help with these remaining expenses, you can engage in Health insurance options.