Oct 14, 2020

Do I really need Health Insurance?

Do I really need Health Insurance?

 

It may be tempting to not purchase health insurance, especially, if you are young and/or healthy.  However, you may want to think of health insurance as bankruptcy insurance.  Stuff happens and it can get real expensive real fast.  According to healthcare.gov, a broken leg can cost $7,500 and a three day hospital stay can cost $30,000.

https://www.healthcare.gov/why-coverage-is-important/protection-from-high-medical-costs/  

 

In addition, CNBC stated that two thirds of people cited medical bills as key contributor to their financial downfall. https://www.cnbc.com/2019/02/11/this-is-the-real-reason-most-americans-file-for-bankruptcy.html

Health insurance can protect you from the rising costs of healthcare.  It is important to get a health insurance plan with a strong network discounted rates with a maximum out of pocket limit to protect against astronomically high medical bills that would send most people to bankruptcy. 

 

Not all health insurance plans are made the same.  A licensed health insurance broker can help you understand all the different plans available and which may be best for you and your situation. 

Written by:
Blair Beaty, Health Insurance Specialist

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