Health Insurance in the Time of Covid-19

As of this writing, almost 2 million worldwide have been affected by Covid-19. Almost half a million recovered but so far around 126,000 perished from this dreaded coronavirus. 

The USA is the country now being mostly affected with around 614,000 affected.  The USA is followed by Spain and Italy. Cases are seen all around the world… in North and South America, Europe, Middle East, Africa, Oceania, and Asia.  To date, 210 countries/territories have been affected by this pandemic. 

It is very unfortunate to see what is happening around the world. We are all affected by this pandemic one way or another. Some have lost their families and loved ones with this disease. Frontliners are worried about their own lives, the lives of their patients, and their loved ones.  A lot of people are still suffering and worried about their health.

 All around the world, there is anxiety, fear, and panic. The world is dealing with something quite unprecedented. We have all been caught by surprise.  We ask ourselves, what could we have done before their pandemic, what do we do now, what will happen in the future. 

Now, so many businesses have been affected or closed.  Our source of income might be affected. Many people around the world have lost their jobs.  

We are all worried not just with our financial security but also more importantly with our health. Every time we go out to buy food or medicines, we worry. We fear for our safety. 

Are we protected by our masks or goggles or what we wear? We do not want to catch the disease. What bothers us more is that we might even have it without us knowing or pass it on to our loved ones unknowingly. 

We now ask ourselves, have we done everything to ensure us now and in the future? 

How about you? What do you feel? Do you have an insurance policy to cover you in case of contracting Covid-19? 

What happens if you get sick of Covid-19? Who shoulders the bills? 

This largely depends on where you are from. Some countries assure their citizens to come upfront if they show symptoms or feel that they may have contracted it. 

This is because those governments assure their citizens that the government and their social services will take care of the expenses. Swab and confirmatory tests are generally shouldered by the government in most cases. 

Some though are not clear cut in who shoulders the bills, especially for advanced cases. For those cases that are very serious, they require intubation and time in the intensive care unit (ICU). Costs associated with these are very high with the rooms, medicines, tests, doctors and facilities.

Hence, it is unavoidable for people, especially in poorer countries, to doubt and worry in case they contract the virus. 

Do you need insurance? 

Depending on the country, insurance policy penetration ranges from 1% to 20% of the population. People across the world see insurance differently. 

Some feel it is a necessity. Some don’t. They see it as an extra expense they could not afford. If they get sick or something happens, that is the only time they worry. Otherwise, insurance does not fall to be a top priority amongst all the expenses.

During this coronavirus outbreak, questions arose on the coverage of insurance on Covid-19. Research well on what your government offers. Are the swab and confirmatory tests free? Is hospitalization totally free? 

Generally speaking, response to Covid-19 is led by the government’s public health system. Check out the government website or consult with local health care workers.  Ideally, if you contract Covid-19, public hospitals and facilities run by the government should be able to take care of the bills. It should be free for the country’s citizens. 

But if you have insurance, it is better to check the policy in detail. Talk to your health agent about it. Having comprehensive insurance that covers various diseases, should include that of Covid-19.  

Insurances normally also have the option to do consultations via phone or video calls. This time, it is important to also check first with a medical expert online.  The doctor can initially assess you and your case. This way, you do not need to immediately go to a hospital to have yourself checked. 

Another benefit of insurance is choosing the accredited hospital and the doctor you want. This can be useful for you should you wish to.  You can use the insurance even in a public hospital so you can have a choice of getting a private room if there is still one available. This can be one benefit versus not having one in this time of a pandemic where it may normally be a ward for those who may contract Covid-19.

In general, having an insurance policy can still give you more peace of mind. Even if the state covers the bills for Covid-19 related infections, having one can give you additional benefits. This can include having doctors on various expertise who you can have depending on what you need. It does not necessarily have to be a Covid-19 related disease. In case of Covid-19, having insurance can help you also give you additional benefits of doctor and hospital selection. 

 There are definitely advantages to having insurance. Covid-19 may be a factor for you to get one. But it should not be the only defining reason for you to shell out the extra expense in getting one.  Matrix Insurance offers insurance solutions to clients in Australia wide. Check their website to know more about their products and services.

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