Why You Need Health Insurance
Posted by: Kyle Dean | November 8, 2012
Maybe you have left your job to start your own business, or perhaps you have just moved out on your own and are no longer covered by your parent's health insurance policy. If you are healthy, you may think there is no reason to have health insurance, but you may want to think again.
While having an insurance premium payment due each month may seem like just another bill to pay, many people don't realize how insurance can protect you and your finances if you get sick. As medical treatment advances in technology, this also raises the cost of health care. Health insurance protects you from many of these costs.
Since you normally only pay a small amount called a co-pay when you visit your doctor, health insurance helps to keep down your out-of-pocket expense. If you visit your doctor without insurance, however, the same visit may be twice as high. You are also expected to cover any tests that your doctor orders and will often pay full price for any medications he prescribes. Without health insurance you are not only responsible for all of your medical bills, but you could actually face bankruptcy if you are seriously injured or require extensive hospitalization. Health insurance works to protect you from these kind of risks.
Health insurance offers other benefits as well. An insurance company will typically negotiate lower rates with many of the health care providers that they do business with. As a member of your insurance company's health care plan, you are then allowed access to this network of health care providers as part of your insurance coverage.
A less thought of benefit, but one that is equally important, is that studies have shown that people who are covered by health insurance generally live a healthier lifestyle and get regular checkups. They are also more likely to participate in preventive health care, such as yearly mammograms or prostate checks. Since problems are found quicker, there are often more treatment options available.