Insurance is a very broad subject. Frankly, it cannot be explained entirely in just one or even a few articles. However, coming to terms with its basics is not so much a hard thing to do. This is as long as you are open-minded and you get one to help you comprehend it.
Fortunately, we can help with the latter. On that note, the basic thing you need to understand about this concept is that it is a form of financial security for times of vulnerability.
The insurer is charged with the responsibility of offering financial security when the insured is vulnerable. This might never happen but regardless, the insurer is supposed to come through for the insured when the need arises.
This is one of the simplest ways to explain this concept but there are complexities along the line. For instance, the extent of the insurer’s involvement (in time of need) or if the insurer will be involved depends on the plan chosen.
This is why the insurer might not cover all the expenses or might do so. There is just so much that needs to be understood about this essential concept. One of the other things that need to be understood is that there are different types of insurance.
Some of the types have been termed more essential than others. Life and health policies happen to be regarded as two of the most essential. For more on why this is the case, you can visit: https://www.investopedia.com/
As far as we are concerned, having health insurance is non-negotiable. It is just important that we all have it and this is regardless of age or any other factor. However, we need to ensure that the plan chosen is good enough to cover us at certain times.
As we will discuss here, one of the things a good health insurance plan should do is offer financial assistance when rehabilitation is needed. Unfortunately, this is not the case with many plans out there.
The ball is in the court of both the insured and the insurer to make sure insurance coverage is adequate for reasons such as this. We will discuss some current problems with insurance and rehab coverage and how quick changes have to be made for the good of all.
Problems to be Addressed with Regards to Insurance and Rehab Coverage
Many people are well aware that having health insurance is essential. This explains why the number of subscribers to health insurance plans has risen over the years.
While this is good news, the bad news (especially as it concerns this subject) is that there are lapses in many of these plans. These lapses are not only on the part of the insurer but their subscribers as well. Let us talk about these lapses starting with the part of the insurers:
There are various types of insurance services. But by and large, they can be classified under two (2) categories – private and public insurers.
More often than not, the cost of using those in the private class far outweighs those in the public class. But either as subscribers to the private or the public class, the trend is that water-tight insurance plans are more costly.
In this context, this means that those plans that are most ideal for even people that have addiction problems and need rehab are very costly. As a result, the number of people who end up as subscribers to such plans is very low.
We understand that insurance is business and not a humanitarian service. As a result, insurers need to be profit-minded to remain and thrive in business. To better understand how insurance companies generate revenues to stay and thrive in business, you can read this article.
Be that as it may, drug abuse is a sensitive subject and there is a need for a more hands-on approach. For this reason, insurers need to be mindful of how they act in their capacity. The cost of being subscribed to plans that would help so much if rehab is needed should be (a lot more) subscriber-friendly.
Also, the government needs to proactively come to terms with the fact that drug abuse is a big problem. This is not just for the addicts and their families as the society also bears the burnt in one way or the other.
For this reason, the government needs to get more financially involved via insurance among other ways. This is of utmost importance considering the rate at which people need rehab treatment.
The Rigidity of Insurers
Some rigid insurance laws do not benefit addicts who are subscribers to insurance plans. One of such is the certainty of losing coverage if premiums are not paid after a certain period.
This is not favorable for addicts. The reason is that this problem is addictive and costly. As a result, addicts are so dependent on the substance(s) that they would rather get them than pay their premiums. This law has to be revisited as many people are unable to get coverage because of it.
The Easier but Not the Best Way Out
It is a good thing that many people understand the need to get insured. Statistics showing how more people are insured prove how people are increasingly coming to terms with the need to be insured.
But if you must be insured (seeing the need), you might as well be properly insured. This is where many people miss it. All a lot of people care about is that they have health insurance. They do not care how much the plan will come through for them if the need arises.
Some just want something cheaper without being mindful of the need to go for something that’s good enough. This is a major and common fault on the part of many people.
You might be saying to yourself that people go for cheaper but ineffective plans because of the cost of water-tight plans. Well, this is true but not always the case.
Many subscribers have a toxic cut-cost mentality. It is so toxic that they would still choose the cheapest and most ineffective plans if the costs of all plans were reduced. So, this is where subscribers need to work on themselves.
We have spoken about some of the lapses as it concerns insurance and rehab coverage. This is especially the lapses on the part of the insurance companies.
However, you should know that some of these insurers still stand out in the best interest of subscribers to their insurance plans. You can check out Ambetter Insurance rehab for more on this subject.
We have discussed a very crucial subject here and the intent is to start seeing the needed change. This is why stakeholders at large are advised to make the right decisions henceforth.