Why Is It Important To Have Health Insurance?

About Me
understanding changes in health insurance

The rules, regulations and restrictions of medical insurance can change a lot over short periods of time. What may be covered this year may not be next year. The premiums that you are paying this year could double next year. How much do you pay out of pocket before your insurance picks up the expenses? Do you have an out of pocket limit to meet before your insurance covers anything? Our blog will help you gain a better understanding of how your insurance works to protect you and assistance in reading the documents you receive to alert you of upcoming changes on your health insurance policy.

Why Is It Important To Have Health Insurance?

27 May 2020
 Categories: , Blog

Health insurance is offered by insurance companies. When you need medical treatment, your insurance will pay for a portion of the cost. You can choose to purchase health insurance through your employer's plan or to purchase it on your own. Whatever you do, make sure you're always insured. Here are four reasons that you absolutely need health insurance.

1. Receive necessary preventative care.

If you only go to the doctor when you're sick, you're missing out on vital preventative care. Preventative care includes things like routine checkups that allow your doctor to check your weight, blood pressure, and more. Annual blood tests can allow your doctor to find abnormalities that could indicate an infection or illness. In all cases, catching an illness sooner rather than later is preferred. Some conditions can be prevented or mitigated with early intervention. People with health insurance are more likely to get the preventative care that will keep them healthy since they won't need to pay for each doctor's appointment out of pocket. Health insurance covers annual exams and other routine procedures that will help you safeguard your health.

2. Avoid tax penalties.

All Americans are required to have health insurance. If you're not insured, you'll be forced to pay a penalty for each month that you did not have insurance. These fees can quickly add up, which means skipping health insurance to save money doesn't actually work. Purchase health insurance in order to avoid a bill during tax season.

3. Get the treatment you need for chronic conditions.

Chronic conditions are remarkably common, and they can affect people of any age. Diabetes is a condition that cannot be cured but only managed with frequent blood tests and insulin shots. Arthritis is another common condition that can lead to permanent disability if not properly managed. DMARDs and corticosteroids are commonly prescribed as treatment. In both cases, a patient will need ongoing medication and care. Health insurance allows people with chronic conditions to manage their condition in order to preserve their body's function and health.

4. Avoid bankruptcy in an emergency.

If you're young and relatively healthy, you may want to forgo health insurance. However, an accident or illness can strike at any time. This is a particularly pressing concern as COVID-19 presents a current risk. If you get sick and require hospitalization, the costs can be staggering without insurance. Severe illnesses and injuries can incur costs that may bankrupt an uninsured person. Protect your financial future by purchasing health insurance ahead of time.