Home Healthy Living Guide Why is Health Insurance Important?

Why is Health Insurance Important?

Even though life insurance, auto and home insurance segments are booming throughout the world, a lot of people skip getting health insurance since they don’t find health care covers as immediately beneficial as other risk covers. However, health insurance is just as important and here are a few arguments you should consider before you decide to give health care covers a miss.

Health insuranceThe benefits of health insurance far outweigh its costs

1. Protection from sudden financial burden in the future

Nobody buys a car or a home with the intention of having it burnt down to the ground or theft but most people prefer to have car and home insurance to have a financial backup in case of an accident. Similarly, having an appropriate health insurance plan can ensure that you have the right kind of money saved up for medical emergencies that may arise in the future. If your family has a history of cancer or diabetes or heart diseases, being prepared with a health insurance plan that allows you to have money stashed to have the necessary procedures whenever the needs arises can help you retain you financial stability in the future.

2. Save time and money during emergencies

In an uncertain economic climate and with a vast majority of people dipping into their savings to stay afloat through job cuts and rising mortgage payments, having a foolproof health insurance plan becomes paramount. A run to the emergency room can cost you up to $1,000 and the bill runs into thousands of dollars for broken bones, childbirths and hospitalization etc. If you have the right kind of coverage, these bills can be taken of immediately without you having to fuss over your finances in the middle of an emergency.

3. Access to the best resources

Most medical practitioners and hospitals find working with patients who have health insurance much easier and ask people to make payments for procedures and prescription drugs up front in case they aren’t covered by a health plan. Having a health insurance plan also keeps you updated with the best medical facilities in a particular area or region so you never have to worry about finding the right hospitals and specialists when a medical emergency arises.

4. Additional benefits

A lot of health insurance plans allow customers to have their medical bills beyond the hospital covered as well. If you are battling a chronic ailment, the cost of prescription drugs alone might run into thousands. A suitable health insurance plan however, can protect you optimally against these unexpected costs. Most health insurance plans do not automatically provide coverage for prescription drugs so if you suffer from ailments that require you to use drugs regularly and for longer terms, choose a plan that specifically covers these costs.

5. Protection through job changes

A lot of people tend to skip on getting health insurance when they are provided a healthcare cover by their companies. Even though corporate healthcare benefits are largely reliable, they won’t cover you and your family once you leave a job, are fired or if the ailment you or your family is suffering from isn’t covered by their plans. Personal health insurance can cover you through job changes and provide you premium protection that caters to your specific medical conditions.

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