You may think that you do not need it now since you are enjoying the prime of your life and you have no history of serious illness besides getting the flu and the occasional sniffles due to the changing weather, but health insurance is a protection that everybody should have. It’s a security that you can provide for you and your family to prepare for unexpected illness, whether or not you have any pre-existing conditions.
Majority of people in the US use health insurance to pay for their medical expenses. Paying a fixed amount every month is actually more practical compared to taking out a huge amount of your savings when you need it for a medical expense that is if you have anything saved up. A monthly payment for health insurance ensures that you have coverage that you can rely on during these unexpected medical emergencies.
Although it is common for people in the US to have health insurance, there are still some who have apprehensions about it. Here are some of the reasons why you should consider getting a health insurance for you and your family:
- Risk of Bankruptcy – individuals usually do not invest in health insurance because times are hard and they just have enough in their paycheck to meet everyday expenses, or they may be in a period of being in between jobs and not having health insurance as a health benefit. An unexpected illness or medical emergency can exhaust all your family’s savings or worse, can put you in so much debt that you reach bankruptcy. Health insurance do not cost much and its alarming that such a big percentage of people in the US filed for bankruptcy due to being financially crippled by medical costs. So, put away a portion of your paycheck and adjust with other expenses so that you can be ready for any medical emergencies.
- Avoiding Penalties – the Patient Protection and Affordable Care Act of 2010 requires that individuals have health insurance and those who do not have it will have to pay penalties. This act has certain exemptions but most people are required to have health insurance as soon as this has taken effect. Instead of paying these penalties, it would be better if you put the money in a health insurance policy that will benefit both you and your family. You may not be sick now but everybody will get sick and be down with something eventually. It’s just a matter of time, so you might as well be prepared for it.
- Risking your life and your family’s security – Probably the worst cost of not having a health insurance is losing your life over not having it. In the event that you are in a serious medical condition and your family does not have any more funds to support your medical expenses, without health insurance, they might be forced to give up trying to keep you alive and just face the fact that you will no longer survive. Your death not only exhausted all your family’s savings, this can also put them in terrible debt. Imagine how they will be able to support themselves financially without your monthly income. This could have been prevented if only you invested a small portion of your earnings each month for health insurance. It’s for your family’s security, it’s for your peace of mind.