Building Our Health Care - An Investment Obligation
Building our health care
The first step to build a brighter financial future is to purchase health insurance. Building your health care is ideal especially for countries that do not fund its people’s hospitalization. Having a sick family member can cause the household to become poorer. While health care is the management and treatment of illnesses and preservation of health through services like dental and medical, some people find this a last priority.
You cannot take health care for granted. It is a necessity; a type of insurance wherein the health insurance company shoulders your hospitalization bills when you get sick. This can be a great relief in times of illness where money should not aggravate the health problem. Without health care, some patients get worse upon learning their escalating hospital bills.
Not all people get sick. No one wants to. Purchasing or building your health care is a manifestation of your love for self. You do buy health insurance because you know it can help you, you just do not know when. But like any insurance, it is a precautionary measure of a loss - in this case, loss of health. Forget about health care and all the funds you have will all be drained when you are beset with health problems.
Short-term and long-term health care
Today’s financial industry offers a various forms of health insurance. Some even offer to have a health care-investment-insurance package. The investment side it has is usually return-of-investment (ROI) that works like time deposits. The insurance aspect of the health care is a burial assistance in case of death which doubles in amount if an accident causes the death.
Short-term and long-term are the two types of health care. For short term, we have the yearly renewable government health care and Health Management Organization (HMO) as examples. Short-term health insurances are yearly health care that offers higher coverage per hospitalization but the package has to be renewed and reassessed every year especially the price. Thus, approval is done annually. This is a no sickness no money package. Short-term health care generally do not cover people 61 years old and up since they are more susceptible to sickness than the younger ones.
Example of a long-term health care is Health Savings Account or HSA. It is a health care that includes savings on top of the health insurance. The health care-turned-to-investment benefit can be stretched till the older age to serve as a cash health care coverage upon sickness during retirement. The key though is to buy it at a younger age. Buy it now as long as income is present.
No one plans to fail, they just fail to plan
The essence of working for the money today is to earn income. However, it does not mean we should destroy our health. Never trade health with money. Most of the people's mistakes is to forget about the future when they are carried away with the present. We should take care of ourselves, our health and our money.