Health insurance is intended to cover many medical-related expenses that are often high and difficult for people to pay entirely on their own. However, you might be tempted to get a health insurance plan that doesn't provide sufficient coverage or go without insurance altogether to save money or if you believe that you are in excellent health and won't ever require medical care. Here are some of the most important reasons why you should take your health insurance needs seriously.
Avoid Financial Ruin
Even if you're financially comfortable, a major health problem could quickly deplete your bank account if you don't have health insurance to pay for all or part of the health care costs. You could suddenly catch a virus or get into a car accident that leaves you severely injured, and you'll need to come up with the money to pay for doctors' visits, prescription medicines, and anything else that you need for recovery if you don't have a health insurance plan to mitigate the expenses.
Get Preventative Care
Certain diseases and other health conditions are often easier to treat with higher success rates if they're discovered early. With your health insurance plan, you can get quality preventative care without the high costs. A doctor can examine you and run any tests that are needed to treat specific health problems or prevent these issues from manifesting in the first place. Your health insurance provider may even send you a checklist of the types of preventative care that you should be receiving based on your age and other factors so that you can stay on top of your health easier.
Avoid Refusal of Care
The Emergency Medical Treatment and Labor Act (EMTALA) allows all people in the U.S. to receive emergency medical care regardless of a person's insurance status or ability to pay. However, primary care physicians and other non-emergency doctors have the right to refuse patients who don't have insurance or can't prove their ability to pay for health care costs in full. If you want to go to a primary care physician to receive treatment for a standard illness or injury or visit a specialist for more specialized care, you won't have to worry as much about being turned away by the provider if you have an adequate insurance plan.
Enjoy Possible Tax Breaks
You can't always deduct health insurance costs from your taxes, but you might be able to do so in some situations. If you pay for an individual health insurance plan instead of being covered under your employer's policy, you'll usually be allowed to use your health insurance premiums as a tax deduction if they total more than 7.5% of your adjusted gross income. If you're self-employed, your insurance premiums may be tax-deductible if they total less than 7.5%.
You should consider a good health insurance plan to be one of your most important investments. The right policy can give you greater peace of mind and act as an additional safety net whenever you need help with managing your health.Share