Do I Need Health Insurance?

When you’re young and healthy, you might feel like health insurance is unnecessary, but that’s far from the truth. Affordable health insurance can be confusing, so many people don’t get it even though they need it. If you’re one of those people, the worst thing that can happen is getting sick and paying exorbitant fees out-of-pocket to receive care.

In other words, health insurance ensures you don’t get stuck with an expensive bill in case of an accident or unexpected illness.

Why You Need Affordable Health Insurance

The cost incurred for any hospitalization, check-ups, or medications is on you if you have no health insurance. If your out-of-pocket costs are lower and only limited to a simple check-up or course of antibiotics, those bills might not be too steep. But, if something should happen to you, such as an injury or acute medical condition, you will be liable for any treatment and care costs.

Healthcare costs vary by location and practitioner. But HealthCare.gov states that some of the most common medical expenses are the following:

·        Broken leg: $7,500

·        Cancer treatment: over $100,000

·        Three-day hospital stay: $30,000

There is a deductible in most health insurance plans. This means you pay out of pocket for treatment and care before your coverage kicks in and pays the bill for you.

For any health insurance that is not a platinum-level plan, you will have to pay at least some out-of-pocket when it comes to expenses. Your deductible is the amount you need to pay before the insurance starts to cover expenses. This depends on your plan and whether you buy it on your own or with an employer. Deductions also vary if you have a family plan or an individual plan.

If you break your leg and need to get a cast before your insurance pays for treatment, you must first pay for your deductible amount. So, if you have a $6,150 deductible, your copays or coinsurance are null. The treatment for your broken leg costs $7,500, you would pay $6,150, and the insurance company would pay $1,350.

Your Health Comes First

When it comes to your health, you’re in charge of your own life. Don’t let overconfidence and mishaps set you back. There are many different types of insurance and plans that might be a good fit for you, and are worth looking into.

It’s important to know what is covered by your insurance, what isn’t, and the difference between each plan before making any decisions. Contact us today to find out more about affordable health insurance that would best suit you and your needs. The last thing you want is to regret not getting coverage when something goes wrong!