Having medical insurance is one of the best ways to stay protected. So, you should definitely consider signing up when you’re not busy at home. Whether your health isn’t in the best shape or you just want to know you’ll be able to afford a procedure, taking steps to get insured will protect your wallet and your health. Still not so sure? Here are four reasons why everyone in your household needs medical insurance.
Emergencies Happen Unexpectedly
Emergencies can happen and injuries take place. Broken and fractured bones, head injuries, and even dental emergencies can come up unexpectedly. If you don’t have insurance, you could be paying thousands out of pocket, and still, need even more treatment in the near future for follow-up care. If you’re still undecided, ask yourself when the last time was that you had a medical emergency that didn’t cost you money. Even car accidents can result in an emergency that requires a large payment from you. The National Safety Council estimates there were 21,450 car accident deaths for the first half of 2021. So, remember, medical expenses range from costs of prescriptions and doctor’s visits to supplies, equipment, and medicine used in your surgeries. Better to have the protection there than risk being swamped with emergency expenses.
You May Need to Avoid Penalties
Approximately 1.3 million Americans 40 years of age are older are legally blind and need eye vision services. You would think that with that statistic, everyone would worry about having insurance coverage from the start! But since 2019, federal law no longer requires individuals to have health insurance in place. In fact, some states have mandates that still require you to have coverage, particularly, Massachusetts, California, Rhode Island, Washington D.C., New Jersey, and Vermont. In these states, not having health insurance warrants a fine, an added expense, something you have to worry about on top of your health. Even if you don’t live in these states, one day you might pass through and something serious might happen that requires you to seek treatment. Of course, if you ever want to relocate to these states, you’ll need health insurance no matter what. Why not save yourself the hassle and get insurance if you can afford it?
Your Health is a Priority Now
It’s not only emergencies you have to worry about. Even if you’re in good health, living safely at home means exercising well and getting the right kinds of nutrients in your body. Even then, your health could take a turn for the worse when you least expect it. Consider risk factors, genetics, environment, and lifestyle. Every one of these aspects of your life has the power to negatively impact your health–meaning health concerns might sneak up on you, even when you thought you were safe and well. Unfortunately, if you haven’t signed up for health insurance, you’re likely putting off getting treated for medical problems until much later, when the problem’s worse. Understand that your health should be your top priority. Money is required to stay healthy. Insurance protects you from having to pay too much.
You Can Save Money on Health Care
Saving money on health care is a common goal. Of course, while Medicare is meant for low-income individuals, the eligibility requirements are strict, so you might not qualify. Still, did you know that many insurance companies will offer savings if the provider is in-network? That’s good news to know, considering your monthly premiums will be far lower than what you would have to pay for the services out-of-pocket. The extra money you save from paying only premiums translates into more services you can afford to get your health back on track. In addition, you’d have to consider the impact of paying for medical services without insurance when the costs begin to stack up. Unlike an emergency, which might be a one-time deal, routine medical treatments and procedures will exceed the costs you can afford, even if you’re quite wealthy and financially secure in your home.
Without health insurance, your chances of being financially secure are slim. The money that medical services cost will hurt your wallet and your savings if you’re uninsured. If you’re still undecided, trust that the cost of premiums will almost always be more affordable than the cost of the medical service itself. Whether your goal is to save money, get healthier, or both, it’s in your family’s best interest if you spend some time at home applying for health insurance coverage.