REASONS YOU NEED A HEALTH INSURANCE COVER

REASONS YOU NEED A HEALTH INSURANCE COVER
There are many good reasons why young people to adults need to consider signing up for health insurance coverage. The benefits or reasons vary with many other reasons but according to our research, we summarized with few main reasons as listed below. These include:-
Peace of mind
Almost everyone will need health care services at some point,
and without health insurance, you could be faced with paying
the bill yourself.
For example, a three-day hospital stay could cost as much as
$10,000 . To help cover these costs, hospitalization is now one
of the Essential Health Benefits that must be provided by
insurance plans sold on the Health Insurance Marketplace.
Even something as routine as a broken leg from skiing,
bicycling or playing sports could cost you $5,500 on average if
you don’t have health insurance.
Living with a chronic illness such as diabetes or asthma can also
be costly. According to the Centers for Disease Control and
Prevention (CDC), the incidence of type 2 diabetes is
increasing, even among young adults.  The American Diabetes
Association estimates that the average annual cost of diabetes
is $11,000 in medical expenses per person.  Without health
insurance – and everyone is now guaranteed to receive
coverage under the ACA regardless of medical history – you
may have to pay for those expenses yourself.
Remember the old saying “An ounce of prevention is worth a
pound of cure?”  Preventive services such as routine physicals,
immunizations and screenings are also included in coverage sold
on the Health Insurance Marketplace. What’s more, these
preventive services are covered without additional out-of-
pocket cost, such as a deductible or co-pay.
Regular health exams and tests can help identify problems
before they start, and can also help find problems early, when
the chances for treatment and cure are better.

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Affordability
One reason young adults often give for not purchasing health
insurance is that they feel they can’t afford it because of other
financial burdens, such as school loans.
To help address the affordability of health insurance, tax
credits and cost-sharing subsidies are available from the
government that may help make premium costs more
manageable or may help lower out-of-pocket expenses such as
co-payments at the doctor’s office or pharmacy.
Based on the Health Insurance Marketplace’s income ranges for
2015, a single person with an income between $1000 and
$3,000 may qualify for both lower premiums and lower out-
of-pocket expenses. And a single person making up to
$6,680 may still qualify for lower premiums.
Responsibility
Finally, it’s important to remember that the ACA is the law, and
most people are now required to have health insurance. In
fact, if you don’t have health insurance coverage, you may
have to pay a tax penalty.
With open enrollment for 2015 underway, we encourage all
young adults to consider the many good reasons for having
health insurance – because life is unpredictable, and that
$7,500 broken leg just may happen to you.

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