Most medical insurance companies today are they there to help or hurt your pocket?

Answer 1

And they deny individual insurance to those who have potentially life threatening diseases (i.e. cancer, diabetes, etc.) for the sake of saving a few bucks. They even deny individual insurance (not provided by the employer) for those like myself who suffer from depression!

Answer 2

Insurance is a business so of course they are looking to make a profit. However so are mattress factory's and McDonald's franchises. The questions you should be asking as a consumer is 1. Does it provide a service I need? 2. Is my service affordable and/or comparable to other products in the same industry?

If you answer yes to either or both of those questions then Insurance is something you need and want.

Look at it this way. You only pay a portion of your medical bills if you have insurance coverage, you'd have to pay for them in full if you didn't have this coverage. Go over the last few years and see what medical, dental & vision expenses you've incurred. Is that more or less then your insurance premiums?

Then the last thing you have to look at is large claims, things for inpatient hospital stays or treatments for cancer, etc. Can you afford this on your own? Most couldn't. Insurance can help off set these costs. Most people look at insurance as something that should pay for everything no questions asked and it simply doesn't work that way. You're entering into a contract with the insurance company and like anything else read it. If you don't like the coverage or wording in the contract don't sign it and go elsewhere.

Hope this helps.

Oh, the simple answer to your question is no the insurance is not there to hurt your pocket.

Answer 3

I agree that health insurance companies are in business to make money. But you certainly want to have health insurance. Medical costs will bankrupt you if you have a serious illness without insurance.

What we have is a hybrid form of socialized medicine with private health insurance companies taking on the role that governments play elsewhere.

The problem with socialized medicine is that medical charges are not, generally, borne by the patient. If they were, the patient would price-shop essential care and forego other care. Health care prices would stay under control.

But, since the average person doesn't directly pay for their care, when they are sick they demand premium care regardless of price. So what if the health insurance company pays $50 for an aspirin?

But those who don't have health insurance that end up with the $50 aspirin bill or are forced to seek care in state or charity hospitals. Or they wait until their health deteriorates enough to be able to demand treatment in an ER. For them, the current system is unworkable.

Answer 4

Just my humble opinion, but whether insurance companies are in business to make money or not (and obviously they are), everyone needs health insurance unless they're independently wealthy.

Look at it this way ... hospitals and doctors negotiate with insurance companies on the price of goods and services. They don't negotiate with you and me.

So let's say I go to the hospital and have surgery. The bill is $10,000 ... if I don't have insurance ... I'm paying the ENTIRE amount or it's going to collections. If I have insurance ... they negotiate the price down to $4000 ... and my share is $1,200.

Yes, they're out to make money ... but health insurance is the only thing between most families and bankruptcy.

Here's a site with more info:
http://www.ehow.com/how_109662_health-insurance.html

Answer 5

I agree with mostly hurt, My doctor said I my insurance required me to have hypertension for them to pay for my medicine, that I really really needed.

So my doctor told me to come back later, I went outside and made my self cry and get in a anxiety attack basically and then she took my blood pressure, so techically I had hypertension.

Ugg I hate doing that, but I couldn't afford to pay for that!

Answer 6

They are in business to make money, period.