Here’s Why Health Insurance Is A Must

Health insurance is not inexpensive. So, when one is young, it can be tempting to go without medical coverage. But the truth is, unexpected medical expenses, especially in case of an accident or a serious illness, can quickly add up. That’s why it’s important for people to have some sort of health insurance at all times—not convinced yet? Read on. 

Medical Debt Can Leave One Bankrupt

Medical emergencies can be extremely expensive and can deplete one’s savings if they do not have insurance at the time of the emergency. A single visit to the ER can result in a bill of over several thousand dollars. In fact, medical debt has become one of the main causes of bankruptcy in the United States.  If one is careful about their health, it’s hard to see why health insurance would ever be needed – we understand that. But something untimely, like missing the last stair or hurting a body part in an accident, could cause injuries that cause a ton of money in hospital fees. What’s more, in case of such a situation, one may not be able to continue working while they are recovering, which, in turn, means more money lost. 

Health Insurance and the Affordable Care Act (ACA) Requirements

Since 2019, people are no longer required to pay the penalty if they are not insured. However, some states may still have those mandates. People who live in an area that makes it mandatory for residents to have some form of health insurance will need to purchase state-mandated coverage. Even if there is no legal necessity to buy health insurance, the right plan can help protect one’s financial standing and health. There are numerous plans out there, so finding an affordable option is not too difficult. 

To Focus on Early Intervention and Preventive Care

When one doesn’t have insurance, they may avoid getting treated for minor health issues. These medical concerns could then escalate into more serious problems over a period of time. Quick detection and preventive medicine are the best ways to avoid expensive hospital treatments.