In the U.S., it’s entirely on us as individuals to safeguard our physical and financial health. Understanding your insurance plan is the first step toward doing so.
There have been a few times in my life when I’ve had a concerning health issue but skipped visiting the doctor. Even when intense stomach cramps left me doubled over for hours, or a shooting pain in my foot felt like a stress fracture, I decided to wait and see if things would get better rather than risk a potentially costly hospital visit. (Fortunately, I healed at home.)
(Bloomberg Opinion) — There have been a few times in my life when I’ve had a concerning health issue but skipped visiting the doctor. Even when intense stomach cramps left me doubled over for hours, or a shooting pain in my foot felt like a stress fracture, I decided to wait and see if things would get better rather than risk a potentially costly hospital visit. (Fortunately, I healed at home.)
I’m not the only one who’s made this choice. In 2020, a survey of more than 2,500 American adults found that 32% of respondents avoided seeking medical care because of cost.
There is a real fear about the cost of seeing a doctor and how it can impact your finances. Millions of Americans receive surprise medical bills each year. That includes insured individuals, according to research by the Peterson-KFF Health System Tracker. A new federal law, The No Surprises Act, went into effect Jan. 1, 2022, banning most unexpected medical charges.
