Let’s Debunk the Top 10 Misconceptions About Health Insurance

Health insurance is among the most sought-after insurance products in the market. We can never predict what sort of health emergency we might encounter in the future, and it helps to be prepared for it financially. For example, the average cost to cover a broken leg in the US is well over $7,000, and staying at the hospital for three days can cost over $30,000. On top of this, treatment expenses for chronic conditions like cancer are very high. This is why it’s essential to have a good health insurance policy, as it can cover the costs associated with health screenings and so on, protecting you financially when you get injured or fall ill.

However, there are a lot of misconceptions that many people tend to have about health insurance in general. As a consumer, you must be well-informed about the services you wish to use to make better decisions.

Let’s quickly examine some of the most common health insurance misconceptions.

You Don’t Need Health Insurance If You’re Young & Healthy

You may be very fit and healthy, but you can never predict unforeseen health emergencies that may hit you when you’re least expecting them. Accidents and illnesses can affect anyone, irrespective of age. If you find yourself having to cover a two-day stay at the hospital, you will likely be forced to pull out all your savings. When you have health insurance coverage, you’re well protected in medical emergencies, leaving you with one less thing to worry about!

If The Policy Is Cheap, Grab It!

Many people buy their insurance based on the premium. Of course, purchasing health insurance with a low premium is completely alright, but you should know that such policies generally have restricted offerings. A smart option would be to look for a cost-effective health cover that provides extra benefits so you have comprehensive coverage against medical risks.

Smokers Cannot Buy Health Insurance

Health insurance companies are generally wary about pre-existing medical conditions, and you must disclose them on the insurance form. Smokers must make their habit known to the policy provider, similar to how respiratory issues or chronic illnesses must be declared as pre-existing medical conditions. While the insurer would charge a higher premium for this, you will not be denied insurance.

Health Insurance Does Not Cover Pregnancy

This misconception was actually true in the past, but now, thanks to the Affordable Care Act, all health insurance plans cover pregnancy and childbirth. Additionally, many employer-sponsored plans cover pregnancy as well.

Health Insurance Will Cover All Healthcare Costs

Different deductibles, co-insurance, and co-pay rates come with different plans. Regardless of the plan, you will have to pay a portion of healthcare costs out of pocket while the health insurance provider will cover the rest. But if you have paid the maximum amount you can spend in a calendar year, your health insurance policy will cover the balance of allowable costs.

You Will Only Get Covered If You’re Hospitalized

While some insurance companies cap the minimum hours of hospitalization, it’s unnecessary to stay at the hospital to get covered under health insurance. For example, procedures like dental operations and cataracts don’t require 24-hour hospitalization but are still covered under the health insurance umbrella.

Your Plan Will Cover Visits To Any Healthcare Provider You Want

The terms of your policy determine the network of healthcare professionals you can consult. Typically, you can only consult ” in-network ” doctors, meaning your plan covers any visits with them. In certain health insurance policies, you will have to get a referral to an in-network provider from your primary care provider, while other plans can allow you to make appointments without referrals.

Your Health Insurance Will Cover Any Prescription

When it comes to prescriptions, there are many variabilities. For example, generic medication often costs far less than name-brand ones. It’s also worth noting that not all drugs are covered under your plan. Make sure to check your plan before you get a new prescription to know what your options are.

Online Health Insurance Policies Are Fake

Purchasing health insurance policies online is rising in popularity, not just due to convenience but because premiums are generally lower for online policies. Since no agents are involved, no commissions are either, leading to lower costs. Insurers can save on payable commissions and pass this benefit on to their customers. As long as you carefully read the policy document, purchasing health insurance online is perfectly safe.

Health Insurance Coverage Starts Right From Day One

Many believe they will be covered under their health insurance policy for any medical condition from the day their policy commences. As a consumer, you should be aware that certain listed diseases are not covered under the policy, and most conditions have a waiting period of one to four years. No illness will be covered for the first thirty days of the policy.


Now that we’ve debunked some of the most common health insurance myths, it’s time that you consider purchasing comprehensive health insurance coverage. Remember, healthcare is costly, so it’s crucial that you’re protected with the right plan. Plus, considering today’s fast-paced lifestyle, stress levels and health hazards have increased, making health insurance policies a must-have!