When trying to save money, health insurance seems like an easy place to make cuts. Most people are healthy most of the time, and although they admit they should go for physicals each year, it always seems like an easy thing to put off. However, health insurance is very important for many reasons, some of which help protect others as well.
At the very basics, health insurance is put into place in order to help families pay for expenses related to health care, which sometimes includes dental and vision needs. Although most people tend to think of routine physicals, sick visits, prescriptions, and vaccinations, health insurance can also be used to pay for the treatment of chronic conditions and accidents. If you do not have adequate insurance coverage, you will have to pay your medical bills yourself, which sometimes can end up being hundreds of thousands of dollars – or even millions with certain chronic conditions.
There are many options when it comes to purchasing health insurance:
- Employer-sponsored plans: these are purchased at a subsidized price through your place of employment. Small companies may not offer health insurance, and most places require you to be a full time employee for the largest discounts.
- Private plans: anybody can purchase these plans, although they are typically much more expensive than employer-sponsored plans. They might be the only option or people unemployed, self-employed, or those who work at smaller companies.
- Government insurance – programs such as Medicare, Medicaid, and state plans can help low income individuals purchase health insurance for themselves or their children.
One benefit of health insurance is preventative care. Annual physicals, vaccinations, and other preventative care is covered 100% by most insurance plans. This means you can get to the doctor regularly, which helps you catch any serious conditions early. For most diseases, the earlier you catch them, the greater your chances of recovery – and the less you spend on treatment. Even if you believe you do not need health insurance because you are healthy, getting it for preventative care can be highly beneficial.
Another area healthy people can benefit from health insurance is accidents. Whether car accidents, accidents at home, or any other type of accident, your health insurance can help you pay the bills. Anybody can be involved in an accident at anytime, regardless of how good a driver they are, or any other excuse you might be able to come up with.
Finally, health insurance helps the cost of medical care to go down. People with out health insurance are more likely to go to the ER for non-emergency treatment. Then when they are billed for the services, they do not have the means to pay. Due to this, medical care prices are high in order to pay for the people who do not pay their bills. If everybody had health insurance, bills would not be left unpaid, and services could begin to be cheaper.