Why is Insurance so important?
Another day, another article. In these past few articles, we touched on Medicare, But we never touched on the why. The why is the heart and soul of insurance. Without insurance, you’re stuck with an expensive bill that you cannot financially afford. Ultimately this leads away from the financial security that you’d like to achieve.
Imagine you just got into a massive car accident. You don’t have any type of insurance, neither health or life. You are rushed to the hospital in critical condition. Now, hospitals are required to make sure you are in stable condition before releasing you. But as soon as you are awake and stable; if you can’t pay, you get the boot.
More times than not, “stable condition” does not mean that you are healthy, or even feeling better. It just means that you are no longer in danger of dying due to your injuries.
As many people are quick to point out, the hospital will not kick you out as quickly if you can offer some sort of partial payment. However, often times people who are uninsured do not have the financial ability to hand over hundreds or even thousands of dollars.
Furthermore, as an uninsured citizen, you can face other financial hardships with lower-level medical expenses. Even minor expenses such as regular doctor visits or visits for the flu, or other illness, can place a hardship on people with a low income. This may also lead to not seeing a doctor when it is needed.
This alone can cause health issues, with having an illness such as the flu going unchecked. There could be further complications if an illness is not treated or at least monitored by a physician.
Consider your options.
Being insured is simply the best way to go about things. Not only are you covered financially, but you may feel more inclined to visit the doctor regularly to make sure you are in the best possible health. Insurance can be expensive, but when you look at the pros and cons of spending a few thousand a year for health insurance compared to paying even more without it, insurance seems to make good sense.
There are many plans out there that can fit your unique financial situation and get you the most coverage possible. It’s always best to consult a professional when talking about your insurance needs.