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Does health insurance supposed to spreead the risk of financial loss?


Does health insurance supposed to spreead the risk of financial loss?

Yes it鈥檚 supposed to, but more and more of the risk has been spread over to the hospitals and the taxpayers thanks to the insurance companies and our government.

Insurance by nature is a risk transfer mechanism.

You buy insurance to transfer certain risks to another party, in this case, the insurance company.

Cancer is one of those health issues that gets really expensive in a hurry. If you are contemplating the purchase of insurance to protect from cancer, and you have not already been diagnosed, then I would recommend supplementing your health insurance with a cancer policy or a more comprehensive critical care policy.

Check with your insurance agent for details on what is available and appropriate to your situation.

Good luck!

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