Health insurance is expensive, and people often wonder if they really need it. This is especially the case for people who are normally healthy and can’t afford the extra expense, or the younger generation of graduate students and those who have entered a job that doesn’t provide it. They can pay for medical care as needed, and may only be responsible for a little to no copay. However, a serious illness can cost thousands of dollars. Take a look at a few reasons to have health insurance.
Medical Emergencies Are Expensive
If you have a medical emergency and are not insured, you can find yourself with a huge debt. You may be healthy, but car accidents and other injuries can happen to anyone. If you need physical therapy or rehab, it further increases the cost. There are also potential emergencies that can cost tens of thousands of dollars.
The Affordable Care Act
There is no longer a penalty for people who aren’t insured, but having health insurance still protects your health and your financial security. You can still go to the health insurance marketplace of a health insurance exchange to get insurance, or your employer may offer a plan.
People often avoid going to the doctor over seemingly minor issues, but this can lead to major problems. Preventative medicine is the best way to take care of issues before they escalate. When you are trying to save money because you don’t have insurance, it may cost you more money when it turns into a more serious problem. Another problem is that you may have trouble finding a plan once you are diagnosed with a serious illness.
Finding the Best Plan
Health insurance is necessary, and you can ask yourself a few questions to determine which plan is best for you. First, consider your overall health. This includes factors such as whether you see any doctors regularly and whether you are involved in a high-risk sport, activity, or profession.
How often do you go to the doctor? Some people hardly ever go, while others go frequently. You can add up your costs to find out what you are spending on medical care. Then, look at the different options. Consider your priorities. You can choose a lower cost premium, but you will pay more if you need care. Learn what you can about different plans so you can choose the one that is best for you.