Misconceptions About Health Insurance

In the United States, you are required to have one of two types of health insurance plans:

• Public health insurance: This is insurance that is paid for by the federal government, more commonly referred to as ObamaCare or The Affordable Care Act. Most people who qualify for this insurance don't need to pay for annual physicals and medication copays, though there may be some out-of-pocket cost depending on your annual income, number of dependents, health status, etc.

• Private health insurance: This is insurance that is either paid by you directly, or by your employer. Typically, private health insurance offers more "frills" than public insurance: i.e., more options for specific healthcare needs.

Now that we've cleared up the two different types of health insurance plans, here are a few common misconceptions about health insurance.

1. "I don't have any recurring health issues, so I don't need health insurance." Health insurance can do much more than cover your needs when you fall ill. It can also provide options for preventative care; for example, annual screenings that can detect early-stage conditions.

2. "I can't afford health insurance." While applying for health insurance can feel daunting, there are government subsidies and payment plans. You won't know until you try!

3. "The more expensive, the better the coverage." There are plenty of economical options that can provide much of the same coverage that premium plans advertise. Complete some research into your options before selecting a provider. Be sure to select the plan that most closely fits your current healthcare needs and write out a list of your "must-haves."

Having a proactive mindset about enrolling in health insurance will ensure that you aren't stuck paying out-of-pocket fees in the event that something happens to you. Most importantly, don't be afraid to fight for your own needs. As the saying goes, "The squeaky wheel gets the grease."

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