Importance of Health insurance
Having health insurance is extremely beneficial for individuals and families. Many people choose not to take advantage of health insurance because they think it is too expensive or they feel it is unnecessary. However, there are many advantages to having health insurance and it could save you thousands of dollars if you are ever faced with an illness or accident. Instead of having to pay thousands of dollars out of pocket, you will only have to pay your deductible amount which will be considerably less. In addition to financial benefits, people with health insurance tend to lead healthier lives. This is due to the more available health care options.
If you are one of the lucky people who are employed by a company that offers health insurance benefits, it would be in your best interest to take advantage of this. Employer health benefits are one of the most affordable options for health care that you can find on the market today. Because your employer is paying all or some of the premiums, you will have a high level of care available to you at significantly reduced prices. Not taking advantage of such an offer can cost you a lot of money if there is ever a need for emergency care or long term care. You will also have prescription assistance if you ever need to take medication for an illness.
Consider the monthly cost of paying for a health insurance premium plus the possible deductible amount you have. In the United States, the average hospital stay costs over seven thousand dollars per patient. The likelihood that you are paying over seven thousand dollars in premiums and deductible each year is rare. In fact, the average premium health insurance cost for a single person ranges from a little over two thousand dollars per year to a little over four thousand dollars per year depending on the type of coverage. Therefore, if you are hospitalized you could save anywhere from three to five thousand dollars just by carrying health insurance. If your employer pays for all of your health insurance or subsidizes a portion of it, your savings can be even greater.
The figures above only take into consideration hospital stays but do not take into account wellness visits and the odd illness or two most people suffer from each year. Taking that into consideration as well shows how important health insurance can be on a strictly financial basis. When you take into account the amount of out of pocket expenses for medical care each year for an individual and compare that to the health insurance costs per person, you are typically well ahead of the game financially.
Aside from financial benefits to health insurance, there are also health benefits. People who have health insurance tend to use it. In comparison, people who do not have health insurance tend to avoid medical expenses whenever they can. Perhaps an illness goes untreated for awhile because of the cost of a doctor visit or dreading having to pay for medication. This can exacerbate a problem and make the patient unhealthier. People who have health insurance also tend to take advantage of wellness visits more often than those without health insurance. This could mean the difference between catching a potential problem early and waiting too late until symptoms are so bad as to force a trip to the doctor or hospital.
Your health is one of the most important assets you have. It allows you to lead a full life and work to help support your family. When you are ill you are unable to do those things and your quality of life decreases, sometimes exponentially. However, with proper healthcare for illnesses, emergency treatment and wellness exams, you will be assured a healthier lifestyle. People who have health insurance tend to use it and take advantage of all the medical care they can.
Considering both the financial and health benefits of carrying health insurance, it is no wonder medical professionals highly recommend having it. Although there may be a cost to the individual to carry it, that cost may be offset somewhat with employer assistance. Even if it is not, the financial costs for having it far outweigh the risks without it. Also, having health insurance allows you to take advantage of much needed healthcare in order to remain in the best possible physical shape.
