Did you know that the number of uninsured American adults was 27.9 million in 2018? That’s an increase of about 500,000 more people without insurance than in 2017. Many of the people who live without insurance are those from low-income families and more often than not they’re people of color.
Many of these people simply can’t afford the costs of having insurance. The jobs that low-income individuals tend to have don’t typically offer insurance to their workers either.
Despite these difficulties, having insurance is important. If you’re wondering, why do I need health insurance? We can provide you a list of reasons why it’s important.
Keep reading to find out!
1. You Won’t Get Bombarded With Unexpected Medical Costs
A medical emergency can happen to anyone, you can be fine one day and find yourself in the emergency room the next day. Even if you’re in the best shape and health of your life, it’s still important to consider getting health insurance to protect you in case of an emergency.
Seeing a doctor in the U.S. is pretty expensive. You might not think that paying for a yearly check-up out of pocket will cost you that much, and it might not, but if you get any type of accidental injury or unexpected illness, expect the costs to increase significantly.
Being insured will give you peace of mind that you’ll be financially covered in case the unexpected occurs. While making monthly payments for health insurance might seem like a big investment, it’s definitely worth the resources. It can mean the difference between having to pay thousands of dollars for a visit to the emergency room or knowing you’ll be covered by your insurance.
2. It’s Important for Those Who Have Preexisting Conditions
Do we need health insurance? We all do but if you live with a preexisting condition it’s especially important that you get some type of coverage.
Getting health insurance with a preexisting condition has been incredibly difficult for many families. The costs for these individuals have been high and insurance companies have often not covered many necessary medical procedures and treatments.
With new legislation being introduced and debated regularly, finding insurance with a preexisting condition is possible. If you struggle with various medical issues, it’s important to have health insurance. Regular and multiple doctor visits can begin to add up financially, so finding a plan that can help you with the burden is crucial.
3. A Short Term Plan Is a Temporary Relief During Uninsured Times
If a standard insurance plan isn’t the best option for you, looking into short term health insurance might be the next best thing. A short term plan is a perfect option for when you’ll have a gap in coverage during the year.
If you sign up for a new plan through the Affordable Care Act program, coverage for the new plan might not begin for a couple of months. Or if you are currently between jobs or looking for a new job, you might also be experiencing a gap in coverage.
These are examples of the perfect times to look into getting a short term plan. Short term insurance will keep you protected and insured temporarily while you wait to receive insurance through other means.
4. You’ll Have Access to Some Health Services for Free
Why get health insurance? Well, one of the reasons you should consider it is that basic, preventative healthcare needs are available for free when you have an insurance plan.
Things like annual checkups, pap smears for women, the annual flu shot, and blood pressure screenings are all free with health insurance. If you’re already going to a yearly checkup and paying out of pocket because you don’t want to pay for insurance, this is more of a reason to get health insurance. The monthly insurance payments will save you from having to pay for a visit all at once every year.
5. Health Insurance Will Decrease the Chance of Bankruptcy
The high costs of getting medical treatment have already been discussed above. Many people experience financial struggles with medical bills and unexpected medical emergencies. It’s no surprise then that increasing medical bills have led many families to financial collapse, to the point of having to file for bankruptcy.
Having insurance doesn’t mean you won’t have to pay any medical bills but it would significantly reduce the amount you pay out of your own pocket. After reaching your deductible and paying for any copayments, your insurance will begin to cover your medical expenses.
This decreased financial burden will decrease your chances of financial instability and make it less likely that you’ll have to enter bankruptcy.
6. Short Term Plans Are Affordable
There are many reasons to get health insurance but costs are usually an obstacle for many people. This is where short term health insurance comes in to save the day.
Short term plans are a great option for people who need affordable coverage. Short term insurance doesn’t cover every type of medical care you need, it also doesn’t last for a long period of time. What these limitations offer is medical insurance at a significantly lower rate than most health insurance plans.
These plans can benefit many types of people like self-employed individuals and people who have a limited budget for healthcare.
7. Insurance Is a Motivation to Take Better Care of Yourself
Getting insurance is a great step towards bettering your health and caring for your body. A lot of the time visiting the doctor is about preventing disease and catching things before they become something more serious.
When you pay a monthly premium, you’ll be more motivated to go to your doctor to get all the annual screenings needed to make sure you’re as healthy as can be. This is one of the best reasons to get health insurance.
Answering the Question: Why Do I Need Health Insurance?
If you’ve asked yourself, why do I need health insurance? We hope this guide has answered the question for you. These are some of the most important reasons to consider getting health insurance.
Interesting Related Article: “Important Reasons to Buy Health Insurance at an Early Age“
Video – What is Insurance?