Why do We Need Health Insurance

As I stated earlier, Insurance is defense, where as investing is offense, in the game of life. Fundamentally, we buy health insurance in the same way as we purchase a car or home insurance. We buy health insurance mainly because it is meant to secure ourselves from financial woes in case we get sick or experience some unexpected accidents in the future.

Health Insurance

However, this is a very narrow perspective of getting a health insurance; if you would think deeper, by getting this type of insurance, you’re able to properly handle persistent physical condition and you stay vigorous which only means to say that you’re able to prevent this certain condition from getting worse.

Moreover, affordable care act (Obama care) made it mandatory for most of us to purchase health insurance starting 2014. If you';re a salaried employee, it’s mostly your employer’s obligation to provide group health insurance plan, else you’ll most like need to buy private health insurance.

Needless to say, being covered by health insurance absolutely provides lots of benefits. This is primarily very important to acquire since it has the ability to protect our future, provide the kind of care we truly need.

(Related – Travel & Health Insurance Coverage: 5 Questions Answered)

Makes medical care affordable

It aids us to easily and immediately come up with convenient providers near us, provides us the security knowing that we’re covered in case of some unfortunate incidents and it provides us access to cost-effective care and health information which will significantly aid in keeping us healthy and upbeat.

In actuality, countless of people do not know the value of health insurance until the time comes that they badly need some financial assistance for emergencies. At times, people consider it but think that it is too expensive to get one.

Little did they know that through researching and coming up with wise choices ahead of time, getting health insurance may considerably help us save more money and time.

The truth is although you’re always in good health; still, there will come a time when you will need it in your life. We can’t tell when an accident may occur, you can’t predict when a family member gets sick, and you can’t foresee when you will need a doctor.

For these reasons, it is certainly very essential to secure a health insurance since this will provide you with an economical way to obtain medical care when you most need it.

(Related – What To Do When You Don’t Have Health Insurance)

It saves you from financial disaster

In addition, a health insurance protects you as well as your loved ones from spending much on very costly health care services. Admittedly, medications, treatments and dealing with major illnesses and hospitalization-related factors are definitely devastating.

Needless to say, whoever you are, no matter how young or old you are it is really very valuable to secure health insurance because health care costs is something you have to seriously ponder about.

It is very vital to understand that health insurance is all about covering the expenditures that come with inhibiting illness and staying healthy and first and foremost being 100% prepared for the worst.

Additional tax burden for uninsured

As per affordable health care act – every one, who can afford health insurance must have coverage by Jan. 1, 2014 or pay a tax beginning at $95 per adult or 1 percent of annual income (whichever is greater) in 2014 and $695 per adult or 2.5 percent of annual income (whichever is greater) by 2016.

Summary

Undoubtedly, health is deemed as the greatest asset of all. Bear in mind that an exceptional health insurance plan shall protect you and your family’s health and financial future for a lifetime. This only proves that you should not take a risk and live life without health insurance for you never know what’s going to happen in the future.

If you could spend on some products that give you the most joy when you go shopping, you can also spend on something that will ensure your family’s health and financial protection.

Readers, what other reasons you can think off that makes having health insurance essential?

is a husband and working as a software professional for a Fortune 100 corporation in Florida. Thanks for visiting the blog.

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Comments

  1. Emmanuel M'M says

    This is a post to get those who are unsure of the benefits of health insurance to join the bandwagon.

    I have a slightly different problem – I want to get insurance but with so many products, I am not sure what criteria to use to evaluate the options. What should I look for and what pitfalls should I avoid?

    I am not a resident of the US but I am sure I will be able to infer some lessons

  2. Romona@Monasez says

    Great article. I agree with all your points. I couldn’t imagine living without health insurance.Even the healthiest person still needs health insurance.

  3. says

    Having lived without health insurance in my 20s and suffered dramatically because of it, I always have health insurance now, just like I always have uninsured motorist insurance.

    That said, the current health insurance system in the US is severely broken. Added to my spouse’s insurance policy, we pay almost $7000 / year for my coverage and that’s before we even see a doctor, just for the protection. Then there are the copays, and whatever portion we’re responsible for any service.

    One of the key problems in my opinion is lack of price information. Have you ever tried obtaining a cost estimate for any medical procedure or service? It’s almost impossible, primarily due to different insurance companies negotiating different rates for the same service. If any of our legislatures want to pass a bill, they should pass a bill outlawing price discrimination in health services. You can have different prices for different facilities, or even for different doctors if you want. But all patients receiving the same procedure at the same place, should pay the same price. Period. If you want to make it even better, make it like car service – you have to receive an estimated bill before any appointment. It doesn’t have to show insurance coverage, just how much they’re going to charge you.

    Transparency is the first step to equality in any process, and sorely needed in our health care system.

  4. says

    Our company’s group health care insurance has definitely saved our family from financial ruin. I had a bone marrow transplant a couple years ago. For some reason I was sent copies of the bills from the hospital where I had the transplant to our HMO. The HMO actually sent the copies. The billed charges that the HMO accepted were just under $500k.

  5. says

    I don’t have insurance at the moment. I’m praying everyday that I stay healthy and I work out 3 days a week and try to eat right. Currently self-employed at the moment, I thinking about getting a part-time job at Starbucks. I heard with some duration, they offer health insurance even to their part-timers.

  6. says

    We pay into insurance, because we want to be extra sure that we’ll be covered just in case. There are definitely some individuals that should have insurance, such as those that have genetic pre-dispositions to health issues, and people who lead unhealthy lifestyles. But I think that everyone should, just to be sure.

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