Reasons You Should Be Insured
Health insurance is essential to your financial security and your physical health. Many people who do not have health insurance avoid doctor visits and checkups that could be helpful to their health and wellbeing. Others still go to the doctor or seek medical help when they need it, which leaves them in over their head with medical debt. Certain people will be eligible for medical insurance assistance from the public services department in their city or county, including those who have low income or no income with children, and those who are either mentally or physically disabled, preventing them from working and paying for their own health insurance premiums.
If you are not in one of these two categories, you are on your own for health insurance. You don’t want to overlook this important asset because it can cost you dearly, both financially and health wise if you do. It might seem too expensive to get health insurance, or you might think that you don’t need it because you are healthy. However, you can’t predict the future. When a medical emergency or accident happens, you’ll be left to pay the bill, which can sometimes range into the hundreds of thousands of dollars or higher.
Most of the people that file bankruptcy these days do so because of medical debt. If you don’t want to wind up losing everything and having to start all over financially, get yourself some health insurance and save the trouble of paying those bills out of pocket. In actuality, paying your own medical bills will be the least of your worries if you don’t have health insurance. How do bankruptcy, medical lawsuits, and garnished wages sound? If you don’t pay your medical bills, many doctors and hospitals are quick to rush into small claims court to get their money, which can result in your wages being garnished or your personal finances being put in the spotlight.
Wait a second, though. It’s not all about having health insurance. You also need to have enough health insurance coverage to protect you from excessive bills beyond the limits of your coverage. For example, if you only have $5,000 to cover a particular procedure and it costs $8,000, that extra money will have to come out of your pocket. What’s the bottom line here? To avoid financial disaster, make sure you have health insurance, and that you have enough health insurance to cover any medical procedure or need that you might have in your lifetime. If you have a small budget for health insurance, as many of us do, consider a high deductible health plan and if you are over 65, definitely look into a senior health plan.
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