One of the hot political topics right now is health insurance. Who should be able to have it? What about costs? Can you go without it? What is the penalty? BJI is here to help. This month, we’re talking about what you need to know to make the best decisions that you can about health insurance.
One of the most basic questions is whether or not you actually need health insurance. Read on, and we think you might realize why everyone should have it.
Life is Unpredictable
Although life’s spontaneity sometimes is pleasant, unpredictable occurrences can have dire consequences for your health and your budget. Significant illness that you don’t expect (such as cancer, diabetes or a suddenly needed operation) and traumatic events have high medical costs that can ruin your credit rating. Medical bills are one of the most common reasons for personal bankruptcy and easily can set you back for years.
Whether it’s an illness you didn’t expect or an accident that wasn’t supposed to happen, health insurance needs to be in place BEFORE you need it. Of course, the hope is that there’s no need for urgent care or a hospital stay, but it is a good feeling to have the peace of mind knowing that you’re covered. You won’t have to worry about the stress of paying medical bills while recovering, AND your budget won’t be blown from an unplanned emergency.
Maintain Your Most Valuable Asset – Your Health
Your health is valuable! Many of us think about insurance in terms of covering accidents and illnesses, but maintaining good health is just as important. It keeps one of your prized assets – your health – in tip-top shape.
Without health insurance, you may be less prone to visit the doctor for a routine checkup. However, having a health insurance policy allows you to take advantage of “preventive care” that is included in most plans. You are able to see your doctor for regular checkups, get vaccines, and participate in other benefits (such as health screenings) that help you to maintain better health. The plan you choose will determine what actually is included.
Reduce Your Costs
Insurance companies have special negotiated rates with doctors who are in-network. When you have health insurance, covered in-network health care costs less for you – even before you meet your deductible.
Avoid Paying a Penalty
In addition to your health being valuable to you personally, it is also valuable to your budget. Current health insurance laws require you to carry health insurance or pay a penalty. For any month that you, your spouse or tax dependents do not have “minimal essential coverage.” The fee is either a percentage of your household income or per person whichever is higher. You can avoid this penalty just by having health insurance. Later this month, we will discuss this topic a bit more.
Obtaining health insurance is important for everyone. You never know what the future holds, but you can be sure to get the best health care you need with the right insurance coverage. BJI is here to help. Contact us today. We will show you options and to help you decide what type of health insurance fits your situation and your budget. Click here.
Understanding Health Insurance Series