We will take a real example to understand how to compare health care insurance plans. We will discuss pros and cons of a high deductible plan versus the high premium plan, with lots of pictures.
Today we will analyze why do people take health insurance and do a real life case study requested by one of the readers (we will call her ‘DB’).
For the health care expenses risk, Avoid is not really an option -> Avoid would mean you are dead, therefore there is no risk of incurring health care expenses.
And in this post today, we will focus on ‘Transfer’ -> Insurance is a way to transfer the health care expenses risk to the insurer (insurance company). And we buy insurance for events where the impact is high.
Now let us talk about the specific real life case study of a reader (we will call her DB).