There is a flaw in most medical insurance companies. Most citizens in America are paying double for medical insurance. They are paying a monthly premium and on top of that when a medical emergency occurs and the customer is billed they pay 100% of that amount until the deductible is met. Deductibles are applied to benefit the medical insurance company. I agree that a deductible should be paid but just not the substantial amount that companies charge.
The deductible may vary from each plan. The lower the deductible for the insured customer the higher the monthly premium will be.
Business owners might oppose that not paying a deductible can do more financial harm to a company than good. Medical insurance companies are a business and they have to make a profit from the customers or the business can risk going bankrupt. The medical company have to receive more money than they are paying out so they can have funds to cover the medical bills of all their customers. This where paying the deductible benefits the medical companies from a business standpoint. If all of their customers are …show more content…
The customers are the people suffering financially behind these expensive deductibles because they are basically paying all the medical fees themselves. Consequently, the deductibles start over every year for each individual on the policy. For example, I have a medical insurance policy with my family of four. For each individual, it is a $2500 dollars deductible, so before the medical company pays for anything we have to pay $2500 dollars in medical bills for each individual before they cover anything. Altogether, I have to pay $10,000 dollars towards medical bills before I’m technically covered. The payment for the deductible isn’t a one time thing it starts over every year. Every year you are paying a deductible with a high monthly premium which can cause financial hardship on a
The deductible may vary from each plan. The lower the deductible for the insured customer the higher the monthly premium will be.
Business owners might oppose that not paying a deductible can do more financial harm to a company than good. Medical insurance companies are a business and they have to make a profit from the customers or the business can risk going bankrupt. The medical company have to receive more money than they are paying out so they can have funds to cover the medical bills of all their customers. This where paying the deductible benefits the medical companies from a business standpoint. If all of their customers are …show more content…
The customers are the people suffering financially behind these expensive deductibles because they are basically paying all the medical fees themselves. Consequently, the deductibles start over every year for each individual on the policy. For example, I have a medical insurance policy with my family of four. For each individual, it is a $2500 dollars deductible, so before the medical company pays for anything we have to pay $2500 dollars in medical bills for each individual before they cover anything. Altogether, I have to pay $10,000 dollars towards medical bills before I’m technically covered. The payment for the deductible isn’t a one time thing it starts over every year. Every year you are paying a deductible with a high monthly premium which can cause financial hardship on a