What if you had to go to the doctor or hospital tomorrow, but you didn’t have health insurance? How worried would you be? Chances are that if your response was not very, then you’re not thinking about the full implications of going without health insurance, and it could lead to severe consequences in the future. This article will explain why health insurance is so important, even if you have good insurance through your employer or are covered under your parents’ policy while still living at home.
Health Insurance Protects Your Bank Account
One of the biggest advantages of having health insurance is that it protects your bank account. Without it, you might not be able to afford costly medical care, and could be forced to finance surgery or hospital bills through loans or credit cards. If you have insurance coverage and get injured in an accident, you won’t need to take out loans that can put you deep in debt if you don’t qualify for financial aid. Even a broken bone can cost thousands of dollars without adequate insurance coverage, so protecting your bank account should be one of your top priorities when purchasing health coverage.
Health Insurance Keeps You From Losing Everything
Let’s be clear: you probably won’t go bankrupt from an unexpected illness or injury. But that doesn’t mean you won’t suffer financially. Health insurance isn’t just about saving your bank account; it also protects your credit score, which can affect everything from getting a mortgage to qualifying for a new job. It may even help you keep your home if you lose your job and can no longer make payments on time. In short, it prevents situations where something awful happens but you don’t have to go broke in response.
Health Insurance Can Save Lives
If you’re reading this, you probably already know how important it is to have health insurance. You likely understand that it can help save your life if you get sick or injured. But when it comes to health insurance, too many people overlook what’s not obvious at first glance: even healthy people should consider buying a policy. And those who don’t need coverage now may find themselves with a big medical bill down the road, particularly in light of high-cost treatments and surgeries that are becoming more common—like stem cell treatments and robotic surgery.
Many people mistakenly believe they’re covered through their employer or by other means. However, approximately 16 percent of Americans lack health insurance for some period during any given year; about 29 million people were uninsured in 2012 according to The Henry J.
Health Insurance Is Vital To Our Economy
That means that each and every day, health care in America represents about 15% of our nation’s entire Gross Domestic Product (GDP). This type of spending has an enormous impact on our economy as a whole and will likely represent 20-25% of GDP in just a few years time. Without a doubt, as such a substantial portion of our nation’s total economic output, it’s vital that we create a healthy insurance industry—and make sure everyone has access to quality coverage.
Before Obamacare, many Americans didn’t have any health insurance.
According to a survey by The Commonwealth Fund, as many as 15 percent of Americans between 19 and 64 did not have health insurance in 2012. The number was significantly higher among people with low incomes. Those who lacked a college degree, in certain regions of the country. Without health insurance, patients often can’t afford to see a doctor for preventative care. Or chronic illnesses, so they wait until their condition worsens and ends up being more expensive to treat. This leads to upcoding by medical providers; charging more for treatment than was necessary because they weren’t able to diagnose or treat at an earlier stage.
What’s Wrong With My Health Care System?
Our current health care system, in which most people get their insurance through their employer and pay for it with pre-tax dollars, is both wildly inefficient and inequitable. Its inefficiencies are well documented: It’s expensive, wasteful and confusing. A typical family pays an eye-popping $4,700 annually for a comprehensive health insurance plan that often fails to cover much beyond basic checkups. Worse yet, half of all personal bankruptcies in America are related to medical bills. The reason we have such an inefficient system boils down to two words: lobbying and advertising. Every dollar spent on lobbyists and ads comes out of our pockets–as do our premiums (it costs $1 million per day to run a major drug company ad campaign). The solution?
Who Pays For Medical Bills In The US?
If a person has insurance and uses it, then he or she can pay far less than what most Americans pay for healthcare on an annual basis. Even if you have to cover half of your bill upfront before your insurance picks up its share, you’re still paying a lot less per year than most other people. However, there are some people who do not have insurance coverage at all.
Is Healthcare A Right?
Healthcare in America is always a hot-button issue. As legislators debate whether healthcare should be a right or a privilege; one thing is clear: every single person needs health insurance. If it’s just for an unexpected surgery or emergency room visit. Healthcare should not be free, but it certainly shouldn’t cost as much as it does; that kind of expense prevents people from going to their doctors when they need it. Which leads to poor health outcomes down the road. If you don’t have coverage, investigate purchasing some now.