No matter how healthy you are, at some point in your lifetime, you will probably need medical care. Health insurance provides a variety of benefits for your physical and financial health. These are seven of them.
1. Protects You From Catastrophic Financial Loss
In the same way that property insurance protects you from financial burdens caused by fire, severe storms, or serious car accidents, health insurance protects against financial disasters brought on by unexpected illnesses or injuries. A relatively minor accident, such as a broken leg, could cost you thousands of dollars in medical bills. More serious injuries or severe illnesses could cost tens or even hundreds of thousands of dollars. Securing a health insurance policy can prevent a single serious accident or illness from leading to bankruptcy. If the cost of insurance is a concern for you, shop around for different insurance quotes and consider money-saving measures, such as higher deductibles or coinsurance.
2. Helps You Avoid Serious Illnesses
Most insurance policies provide coverage for preventative care, such as annual physicals, vaccinations, blood tests and screenings for serious illnesses such as heart disease and cancer. These preventative services can help your physician diagnose serious conditions early when they are easiest to treat, suggest lifestyle changes or medications that may help you. Some insurance policies also cover programs such as weight management, smoking cessation, or addiction issues that can help patients avoid the health consequences of smoking, excess weight, or drug and alcohol dependence.
3. Manages the Cost of Chronic Conditions
Some injuries and illnesses require long-term care and have steep costs. Health insurance helps you manage the costs of ongoing medication, therapy, testing, and other treatments for chronic conditions. Insurance also makes it easier for you to obtain referrals to specialists.
4. Leads to Better Outcomes for Mothers and Infants
The average cost to deliver a baby in the United States is over $10,000 if there are no complications, and can soar to $30,000 or more if something goes wrong. Additionally, both mothers and infants have better outcomes when they can receive appropriate pre and post-natal healthcare. Appropriate healthcare can help reduce the incidence of premature birth, birth defects, sudden infant death, injury or death due to childbirth and other health issues for mothers and infants. Health insurance also may cover the costs of treatment for mental health conditions such as postpartum depression.
5. Defrays the Cost of Routine Care
Health insurance not only protects against catastrophic financial damage, but helps cover the cost of routine care. Many people without health insurance avoid going to the doctor for common illnesses such as the flu, which can lead to more serious health issues. Health insurance helps ensure that you need not suffer from common health issues without treatment due to a lack of ability to pay for medical care.
6. Helps Avoid Missed Work
Many people can not do their jobs when they are ill or injured. Health insurance makes it easier to receive the necessary care to recover as quickly as possible and return to work, which can reduce the number of lost wages and sick time employees need to take. Most health insurance provides coverage for routine vaccinations that may reduce your chance of catching communicable illnesses that could keep you home from work.
7. Provides Protection for Children
Most insurance companies offer family policies that also provide coverage for children. Because of their proximity to other children, who may not always be careful about hand washing, children tend to suffer from frequent illnesses. Additionally, children can benefit from regular checkups that help ensure that they are not suffering from any serious childhood disease, and that their bodies are developing appropriately for their age. Some children may also need treatment for common conditions such as Attention Deficit Disorder, obesity, or asthma. Insurance also helps cover the cost of required childhood vaccinations and physicals for sports programs.
An accident or unexpected illness can strike at any time. Health insurance can help ensure that you receive the medical care you need without undue financial hardship.
