Health Insurance Blog

As written in Charleston.net, nearly 10% of South Carolina residents (nearly 400,000) are “underinsured” (defined as a person who spends 10% or more of their income on out-of-pocket medical expenses, or has a deductible that equaled 5% or more of their income).

Lacking sufficient health insurance coverage is a dangerous proposition, you could be a major accident or illness away from a serious financial bind or even bankruptcy.

The number of Americans that went underinsured increased 60% from 2003 to 2007, according to the Commenwealth Fund, and a full 14% of Americans are now underinsured.

The majority of people who are characterized as uninsured opted for a stripped down health plan, or a high-deductible health plan (without the accompanying health savings account) or selected a health plan from fly-by-night health insurance company simply because it was cheaper.