Why Do We Need Health Insurance?

With Medical Health Insurance, you are not just safe guarding your life and your health, but you are also preventing yourself from making costly bills. Unexpected expenses that arise from medical institutions can lead your financial down fall. In a recent report published by the National Coalition on Health Care, it was noted that in America, every 30 seconds one person’s finances crash because of health problems.

Health Insurance is there to ensure a healthy society and a nation as a whole. An American college also stated that, people who are not insured are very much likely to suffer from chronic diseases such as breast cancer which could have been averted should they had been diagnosed through regular checks. In general, uninsured people do not have many chances in disease prevention services than those insured. They are at greater chances of death, at about 50%.

Health Insurance causes a significant reduction in your expenses as most of your medical expenses would be divided and shared between you and your insurer. There are network discounts which are set by insurance companies and medical health care, in such that an insurance company will give you a discount should you be attended by one if their recommended doctors. In the end, you will pay much less than you would have.

Have you ever thought of living without Health Insurance? Statistics in the Department of Health say that the number of Americans who are not insured has greatly risen to over 40 million, with the majority of them coming from working families. The biggest group without any medical Health Insurance is the youth aged between 19 and 29 years. These are commonly referred to as the “young invincible” because they think that somehow their youth will always protect them. However tragedies such as illness; accidents and death are not respecters of age and if you are not insured, brace yourself for problems.

Another large group of people without medical Insurance are women. They are more than 15 million of them and they often suffer from diseases as they spend most of their time using their own treatment methods. Most insurance institutions use good measures like gynecological inspection which could help in the early diagnosis and prevention of many female associated diseases.

Lack of adequate and affordable health care insurance can complicate a lot of things and lead to fatal conditions such as paralysis and worse death. People without Health Insurance often die much earlier than those insured and most of the causes of death would have been prevented.

In another study conducted at Harvard University, it was noted that about 50% of all bankruptcies are caused by medical debts. Medical debts can cause a major financial collapse for you. Other independent research also showed that extra medical expenses contribute heavily; in fact, they are one of the catalysts which trigger financial collapse among individuals.

To avoid financial problems, you should regulate and monitor your expenses. Evaluate and regulate your monthly payments and make sure they suit your pocket. Choose a policy plan that is most suitable and affordable to you, so as not to end up in serious debt.

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