Health insurance costs cause some families to question its importance. The high costs force some families to take the risk of going without insurance. For a healthy family, buying health insurance seems like a waste of money until an accident occurs and you actually need it. The advantages of having health insurance extend beyond simply covering part of your medical costs.
Health Insurance Basics
A health insurance policy owner pays premiums each month to have the coverage. Each plan is different in exactly what it covers and how many of the various medical procedures it covers. Group insurance plans through an employer typically offer the best coverage for the money. Individual plans and health savings accounts, or HSAs, offer alternatives for those who don't have access to a employer group plan.
Financial Protection
Health care insurance protects your financial interests, particularly in the case of a major accident or severe medical problem. Hospital stays, medication and other associated medical expenses add up quickly. While you likely have to pay a portion of the expenses, the health insurance coverage typically caps your out-of-pocket expenses and covers the rest of the medical costs up to the maximum payout amount. A major medical catastrophe holds the potential to eat up any savings you have and could lead to bankruptcy if the costs are too high.
Medical Care
Health insurance offers you access to quality health care. A doctor's office may require health insurance or payment in full at the time of the appointment in order to see you. Those who can't afford health insurance can't likely afford to pay for all medical services performed that day. An insurance policy gives you the freedom to see the doctor without the pressure of coming up with the money upfront.
Health
Those with health care coverage have better access to preventative care, which helps them stay healthier. Regular preventative checkups allow your doctor to identify potential health problems that could lead to more serious health issues. Doctors offer advice on healthy lifestyle choices. They provide guidance for parents to keep their kids healthy. Many health insurance plans also offer access to health advice and tools. Some companies offer wellness incentive programs that help policy holders make healthy lifestyle changes such as losing weight, lowering cholesterol or stopping smoking. Those without insurance are less likely to schedule preventative appointments which may lead to more severe health problems.
Security
Major medical expenses are typically unexpected events such as a car accident, an unplanned pregnancy or a diagnosis of a serious illness. Health insurance offers a comforting security for a family before and after such an event. Knowing that you have coverage in case of an unexpected medical situation eases your mind.
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