Thoughts On Health Insurance and Health Care Reform

by The Smarter Wallet on September 9, 2009

Yesterday, my young child had minor surgery where he was made to go to sleep during the procedure. Today, he’s out and about bouncing around as if nothing happened. This made me think about just how lucky we are to live during a time when modern medicine has made life much more comfortable than it has ever been in our history. But while we celebrate the wonders of modern science and medicine, we face the question of just how well we can afford these benefits. It seems to me that while our technologies are getting better (and even cheaper) over time, the ability to afford these things just gets more and more challenging for the average person. Medicine and health care have become out of reach for many.

The big political issue of the day is health care reform — I see it making the headlines in recent days. I am glad that Obama is taking a hard look at this matter, and I trust that he’ll work hard to take the right steps for our nation (of course, not everyone agrees).

As I grow older, the more I am concerned about the affordability of health care. It’s becoming a bigger deal when I find myself visiting the doctor much more often — not just for my personal cause but also to address the health needs of my family. So I’m hoping that we (our government) will be able to take steps in the right direction to improve the health care system and the health insurance industry, both of which, in my opinion, need a major overhaul in this country.

Personal Finance Articles

Len Penzo: My friend Len discusses his decision to prepay his mortgage in his article, Paying Off Your Mortgage Is a No-Brainer. Great idea! In our case, we don’t prepay our mortgage but we’ve chosen a short term mortgage loan (15 years) which will soon enough come to an end in the next few years!

The Financial Blogger: If you’re looking to get some funding (and are planning to use other people’s money) for your business, make sure you have a solid business plan. This article discusses the various key issues when creating a plan.

Nil2Million: Well isn’t this interesting: on the subject of health care, is there an issue about whether people should get coverage for the flu? Apparently, in Malaysia, it’s a big deal since Malaysian insurance firms made a point of stating that they would cover health claims that stem from H1N1 cases. Wait a sec. I thought health insurance firms were obliged to cover the flu? Are there special conditions that govern the insurance coverage of certain diseases?

Recent Carnivals

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{ 2 comments… read them below or add one }

1 Nash | nil2million.com September 9, 2009 at 9:36 pm

Hi there,

On the article regarding whether insurance companies will cover for Swine Flu / H1N1 related illness, the answer is yes. The public is worried that there’s some exclusions that they are not aware of.

But yes, generally insurance companies should cover.

Rgds

Nash

2 SVB September 9, 2009 at 10:49 pm

Thanks Nash… I found the issue of exclusions here interesting. Does this imply that deadly pandemic causing diseases won’t be covered by insurance?

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