Not Having Adequate Health Insurance Coverage Can Cost You

Having health insurance coverage doesn’t always mean your medical needs are covered. Because of exclusions or limitations in most health insurance policies, there are many situations where health insurance coverage fails. Claims made when pre-existing conditions, emergency evacuations, and certain medical tests aren’t covered are common examples of when not having adequate health insurance coverage can cost you. Read our health insurance guide below for more.

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Natasha McLachlan is a writer who currently lives in Southern California. She is an alumna of California College of the Arts, where she obtained her B.A. in Writing and Literature. Her current work revolves around insurance guides and informational articles. She truly enjoys helping others learn more about everyday, practical matters through her work.

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Laura Walker graduated college with a BS in Criminal Justice with a minor in Political Science. She married her husband and began working in the family insurance business in 2005. She became a licensed agent and wrote P&C business focusing on personal lines insurance for 10 years. Laura serviced existing business and wrote new business. She now uses her insurance background to help educate...

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Reviewed by Laura Walker
Former Licensed Agent

UPDATED: Nov 30, 2020

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Sometimes, just having a health insurance policy does not mean your
medical needs are taken care of. There are many scenarios in which health insurance fails, due to exclusions or limitations. Not having adequate coverage can be an expensive ordeal, and the out of
pocket expenses can easily run into the thousands.

One way having inadequate coverage can cost you is when you have preexisting conditions that are excluded from coverage. This is not usually a problem with group coverage, but individual insurers
may deny you coverage for them, or at least deny coverage for procedures related to the condition. The only solution for this problem is to get group coverage or, if you qualify, get coverage
through Medicaid, a government sponsored health insurance program.

Another way that you could spend more than necessary is if your insurance does not pay for prescriptions and medical supplies. In this case, you can add supplemental insurance to fill in the gaps
of your regular coverage. It will cost you a little more for the supplemental coverage, but in the long run you can save hundreds or even thousands on your health care. On average, supplemental
prescription insurance will only cost a few dollars per month, as opposed to the potential cost of a single prescription being as high as several hundred dollars.

The most expensive mistake is to not have health insurance at all. In that situation, even a minor illness could cost you several hundred dollars after doctors and prescriptions. Additionally,
federal law has changed and everyone will be required to have health insurance coverage by 2014. This may sound like a difficult ultimatum, but there are procedures being put into place now that
will make it easier for everyone to receive adequate health coverage, saving the average uninsured American a great deal of money over the long term, plus increasing the average health of all
Americans.

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