Health Insurance: Why You Need It

Health insurance isn’t cheap and it can be tempting to just go without coverage, especially if you never get sick. The expensive monthly cost and out-of-pocket expenses may have you wondering how much you really need coverage. 

Most people in their 20s may feel like they are healthy enough to skip out on health insurance.  It may seem like a good idea to cut health insurance expenses completely from your budget when you rarely see a doctor, especially if things are tight financially.

You can choose to pay for medical expenses as you go instead of worrying about insurance premiums and copayments on the way. This could, however, be very difficult if you have a serious illness, meet with an accident, or have an ongoing health issue because the costs can become very large, very quick. This is why it’s important for everyone to always have some form of health insurance.

Medical Emergencies May Bankrupt You

Medical emergencies can be very expensive and if you do have the misfortune of undergoing a medical emergency without insurance, it is very easy to find yourself with an astounding amount of medical debt, and no way out of the mess.

If you do take good, preventative care of yourself, it’s hard to see why you’d really ever need insurance. However, even missing that last stair at home and dislocating an ankle or breaking an arm could cause an injury that costs you thousands in medical bills, and it can quickly increase if you need surgery.

Emergency Surgeries Can Be Very Expensive

You may not be able to work while you’re indisposed, which could mean you could lose out on pay as well. Even with insurance, you may find it hard to pay for healthcare costs in such instances. It is still very hard to pay for medical costs without health insurance, especially if you are checked into a hospital, even if it’s just overnight.

A Plan That Fits Your Needs

Health insurance isn’t a luxury; it’s a necessity. 

If you want to invest in insurance but are unsure about what coverage works for you, there are a few questions you can answer to find out.

  • How’s your health?
  • How often do you visit the doctor? 
  • What are your priorities? 

If you visit the doctor often, you’ll probably need a plan with lower copays and deductibles.