Top 4 Reasons Why Health Coverage is Important
If you're a young, healthy working professional, then you might be wondering why you have to have health insurance. After all, you're not planning on getting sick or hurt, so why should you be forced to pay for health care that you don't have a reason to use?
The reason is because even though nobody plans on getting sick or injured, they occasionally do. And, when they do, the cost of their medical care can be quite substantial. Here are the top four reasons why health coverage is so important.
Health Insurance Protects You from Accruing Massive Amounts of Debt
Nobody is prepared for an illness or injury. They just happen when they happen. If you get sick or hurt and you're not covered by health insurance, you stand to be personally liable for the entirety of your medical expenses. When you consider that the average cost for treating a broken leg is $7,500; a three-day hospital stay $30,000, and cancer treatments hundreds of thousands of dollars, you can see how quick your costs can pile up.
If you're insured, however, you can drastically reduce your out-of-pocket costs because all you'll be liable for is the deductible on your plan (unless your plan has other terms).
You Get Access to Free Preventative Care
Many policies offer access to certain preventative care services at no cost to the policy holder. For instance, you may be eligible for free health screenings, vaccines and immunizations, contraception, mammograms, cancer screenings, vision and hearing screenings, and more. Also, these services are provided at no cost regardless of whether or not you have reached your deductible limit. Simply by having health insurance, you'll be able to take advantage of these programs to help ensure the continuity of your good health.
You Can Save Money Even Before You Reach Your Deductible
When you have health insurance and you use an in-network provider, you can save more on your health care treatments, regardless of whether or not you hit your deductible yet. The reason is because the insurance company negotiates their rates with individual providers so you'll wind up paying the insurance company's reduced rate instead of full price. Depending on the treatment or procedure, this can result in significant savings. For example, the cost of a flu shot can be $40 for an uninsured individual, whereas the cost for an insured individual can be roughly half that. In terms of medical costs, the more expensive the procedure is, the more of a discount you can expect.
You Can Avoid Being Charged the Fee for Not Being Covered
If you choose not to carry health insurance, you are likely to be fined by the government. And the fees are expensive. In 2015, the fee is determined in one of two ways:
If you're not insured at all in 2015, then you will pay the higher of the above amounts. But, all you need to avoid being fined is a policy that meets the government's minimum essential coverage.
Find the Best Health Insurance in Wilmington NC for Your Needs with Schnitzer-Slate
These days, having health insurance is must, even if you're the picture of good health. Schnitzer-Slate is an authorized provider of BCBSNC insurance plans and as such we have a host of flexible health care plans for you to choose from. Just call us at 910-392-7020 and one of our agents will help you choose the right health insurance in Wilmington NC for your needs and budget. Or, just visit our website at http://healthplannc.com/ to learn more about affordable health insurance in Wilmington NC.
The reason is because even though nobody plans on getting sick or injured, they occasionally do. And, when they do, the cost of their medical care can be quite substantial. Here are the top four reasons why health coverage is so important.
Health Insurance Protects You from Accruing Massive Amounts of Debt
Nobody is prepared for an illness or injury. They just happen when they happen. If you get sick or hurt and you're not covered by health insurance, you stand to be personally liable for the entirety of your medical expenses. When you consider that the average cost for treating a broken leg is $7,500; a three-day hospital stay $30,000, and cancer treatments hundreds of thousands of dollars, you can see how quick your costs can pile up.
If you're insured, however, you can drastically reduce your out-of-pocket costs because all you'll be liable for is the deductible on your plan (unless your plan has other terms).
You Get Access to Free Preventative Care
Many policies offer access to certain preventative care services at no cost to the policy holder. For instance, you may be eligible for free health screenings, vaccines and immunizations, contraception, mammograms, cancer screenings, vision and hearing screenings, and more. Also, these services are provided at no cost regardless of whether or not you have reached your deductible limit. Simply by having health insurance, you'll be able to take advantage of these programs to help ensure the continuity of your good health.
You Can Save Money Even Before You Reach Your Deductible
When you have health insurance and you use an in-network provider, you can save more on your health care treatments, regardless of whether or not you hit your deductible yet. The reason is because the insurance company negotiates their rates with individual providers so you'll wind up paying the insurance company's reduced rate instead of full price. Depending on the treatment or procedure, this can result in significant savings. For example, the cost of a flu shot can be $40 for an uninsured individual, whereas the cost for an insured individual can be roughly half that. In terms of medical costs, the more expensive the procedure is, the more of a discount you can expect.
You Can Avoid Being Charged the Fee for Not Being Covered
If you choose not to carry health insurance, you are likely to be fined by the government. And the fees are expensive. In 2015, the fee is determined in one of two ways:
- $325 per person in your household ($162.50 per child under 18)
- 2% of your 2015 income above the tax filing threshold
If you're not insured at all in 2015, then you will pay the higher of the above amounts. But, all you need to avoid being fined is a policy that meets the government's minimum essential coverage.
Find the Best Health Insurance in Wilmington NC for Your Needs with Schnitzer-Slate
These days, having health insurance is must, even if you're the picture of good health. Schnitzer-Slate is an authorized provider of BCBSNC insurance plans and as such we have a host of flexible health care plans for you to choose from. Just call us at 910-392-7020 and one of our agents will help you choose the right health insurance in Wilmington NC for your needs and budget. Or, just visit our website at http://healthplannc.com/ to learn more about affordable health insurance in Wilmington NC.