5 Reasons You Need Health Insurance

After the changes to health insurance, there are many people who are unsure whether or not they actually need health insurance, especially those who are both young and healthy. However, when it comes to health insurance, while you hope to never need it, it is important you have it, otherwise you could face some hefty bills.

Here are 5 reasons why you need health insurance:

1. Penalty

If you do not have health insurance, you are more than likely paying a tax penalty, which is extremely expensive. For those whose health insurance would be more than the tax penalty, consider looking to see if you qualify for a healthcare subsidy, which you can check via a healthcare subsidy calculator. If you are eligible, you could save hundreds of dollars on health insurance.

2. Financial Strain

If you do not have health insurance and have a medical emergency, you could be facing serious financial strain. Anything from a serious illness to a bad accident can leave you with hefty medical bills, and if you are unable to pay them, you could be facing bankruptcy.

Moreover, basic exams and physicals are extremely expensive without health coverage, but they are necessary to be done for the safety of your health. If you are up-to-date on your exams and vaccinations, you will most likely catch health problems in their early stages. Not only is that better news for your health, it is also better news for your wallet.

3. Appointments

Those without health insurance have a more difficult time getting appointments than those with insurance. For those who suffered a medical emergency, having visited urgent care of an emergency room, getting a follow-up appointment to check on the injury or illness can be nearly impossible. And, it will cost you out of pocket.

4. Preventative Care

All health insurance plans must cover preventative health and wellness services, including emergency care, maternity care, pediatrics, rehabilitation services, and prescription medicines, among others. Without health insurance, all of these services will not be covered, leaving you on your own to pay for them.

In the case of maternity costs, for women who plan to have a family, it is important they have health insurance. Maternity costs are extremely high, for there are so many appointments women must attend, including check-ups, ultrasound appointments, and birthing classes. And, giving birth in the hospital is extremely expensive, thus it is very critical pregnant women have health insurance.

5. Coverage

Lastly, if you do not have health insurance currently, but assume you can get it at the hospital after an accident, it unfortunately does work that way. Health insurance is a timely process, and signing up for the right plan is not going to happen immediately. Thus, do not wait until an emergency happens to sign up for insurance. Rather, sign up now so that you have it when you need it.

These 5 reasons are why you need health insurance.

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