Health insurance is unnecessary if you are in good health. Do you think so? Here are a few arguments for reconsidering what you think.
When considering health insurance's value, we frequently imagine the worst-case scenario. Insurance is unquestionably essential in the event of a severe illness or injury. A three-day hospital stay can cost $30,000, and fixing a fractured leg can cost $7,500. For more severe conditions like cancer, the cost of care can easily reach hundreds of thousands of dollars.
The primary justification for Americans considering withdrawing funds from retirement accounts or declaring bankruptcy is high medical costs. Making sure you have enough health insurance is a good enough reason in and of itself, but it only tells part of the tale.
Treatment Costs Are Reduced Thanks to Health Insurance
When you buy health insurance, you begin to gain advantages right away. Suppose the medical professionals you visit are in your network. In that case, you will pay substantially less for office visits than you would without insurance, even if your plan includes a deductible — the amount you must pay out-of-pocket before your coverage completely kicks in.
Some plans may include free disease management programs and generic medications at a discounted price. Additionally, having health insurance might help you be in a better position to avoid or detect challenging — and frequently expensive — conditions early on.
Preventive Care Aids in Maintaining Your Health
All Covered California plans include free preventative care, such as yearly physicals and vaccinations. Other health screenings, such as those for blood pressure, diabetes, cancer, and depression, are provided without charge, and chronic illness treatment is also covered.
The chance of an accident or disease is always present, even if you eat well, exercise, and are currently in good health. In some instances, health insurance might be the difference between receiving treatment for a condition and not receiving it before it results in longer-term harm.
Think about Kim's tale from Atwater, California. Kim felt obliged to get a checkup after losing her husband to colon cancer, but she was uninsured and couldn't afford to pay out of pocket.
Kim got a colonoscopy after enrolling in a health plan through Covered California and discovering that she had an aggressive type of cancer. Kim received the necessary surgery thanks to this early detection before cancer progressed. She declares, "I am one lucky cancer survivor."
You Could Be Eligible for Financial Assistance and Avoid Penalties
Californians will be required to carry health insurance starting in 2020 due to a legislative law. If Californians fail to comply and are not exempt, they will be required to pay a minimum of $850 for each adult and $425 for each dependant younger than 18 who is not covered. These sums, which apply to the tax year 2022, could change from year to year.
The good news is that more people than ever before can afford health insurance premiums thanks to financial assistance. Check out the interactive calculator provided by Covered California to discover whether you are eligible.
Peace of Mind
You can feel secure in your coverage when you buy a health plan via Covered California. All Covered California health insurance plans include coverage for a number of basic healthcare services, such as prescription medicines, hospitalization, maternity and newborn care, mental and behavioural health, emergency services, and more.
Peace of mind comes from confidence, which enables you to experience life to the utmost. No one is immune to accidents, no matter how young or healthy they are. By maintaining coverage, you may engage in the activities you enjoy without having to worry about the expense and stress of a potential injury.
Lack of coverage places you and your family at a greater financial disadvantage than enrolling in health insurance ever could due to the fine for not having coverage and the potential for unexpectedly large medical costs. To protect both your financial future and your health, be sure you don't go without coverage.
Health insurance drawbacks and potential hazards
Plans can get pricey.
Your medical expenses are not covered.
Certain plans have high deductibles.
Many insurance policies only cover specific medical professionals and facilities.
You can select the plans you want, but not the coverage they provide.
For the treatment of preexisting conditions, there may occasionally be waiting periods.
Elective surgeries and novel treatments are generally not covered by health insurance.