Is Poor Health Insurance Better Than No Insurance?

Recently a national periodical dedicated to consumer issues presented an article concerning poor health care plans and for what consumers should be on the watch.  The question arises, however, as to at what point do you abandon a poor health care policy?  There are those who are struggling financially right now, so the following might be reasons that they choose to stay with what they have and hope for the best.

When you have no other choice.  There are those who, when they signed up for the policy that they are currently covered under, were in good health and the policy provided what they needed.  But, upon encountering a major medical issue, have found that they are trapped.  Sure they could cancel the policy, but that would leave them with nothing, and trying to get another policy might be impossible depending on the medical condition.

When you have no more money.  There are those who cannot afford anything more than the policy that they are paying premiums for at this point.  That makes it very difficult to move to something else in search of better coverage because usually better coverage means higher rates.

When you have supplemental coverage.  With supplemental coverage from other companies, you can piece together satisfactory health care coverage that is adequate for most people.  This might require more leg work in finding what will work for you, but once you have what you need in place, it is not really all that bad.

When you are transitioning jobs.  Suppose you are between jobs and are expecting offers any day from any of several locations that you have applied.  If you have taken out a policy to get you through while you are out of work, instead of paying the exorbitant premiums for COBRA (even with the breaks provided by the stimulus package early in 2009), you would be wise to keep the policy until you are safely onto the new policy at your new employer.  This is appropriate even though the coverage may be poor.

When you are young and healthy.  Many young people think they are immune from major health issues.  Even so, a good policy is nothing to take for granted.  But, if it is just considered a bridge until a better policy and financial situation materializes, then it might not be a bad plan.  But the key is to remember that it is only temporary.

You see, then, that poor health care policies are not all that bad.  It depends on how they are used and viewed by the participants.  Here is to your good health!