Sometimes you get sick.
It’s just a fact of life – no big deal, right?
You visit your doctor, get some medicine and within a few days, you’re good as new.
This simple little scenario would look quite a bit different if you didn’t have health insurance!
The trip to the doctor would cost a lot of money that would be coming right out of your pocket, not to mention the cost of the medicine.
Let’s take a look at some of the most important facts for you to know about health insurance coverage.
This coverage is to assist with the cost of medical expenses that are the result of illness, injury, various physical and mental conditions and even includes surgical procedures.
If you or your spouse is employed, the employer may provide health insurance for you and your family.
It can also be purchased individually in the marketplace if you don’t have that employer option.
An unexpected illness or injury can be financially devastating to a family.
Even the more common, everyday issues can add up if you don’t have coverage.
If you or someone in your family were to suffer a severe injury or an illness that required a hospital stay or treatment, the costs would likely be above your capacity to pay out of your own pocket.
The fact is that no one can predict what the future holds.
Without the protection that health insurance provides, the health care expenses your family accrues could take a damaging toll on your finances.
Did you know there is also a link between having health insurance and receiving better health care?
People with health insurance coverage are more likely to see a doctor regularly, which can help you and your family to stay healthy by providing preventative care.
If your family is receiving coverage from your or your spouse’s employer-sponsored health care program, you may not have many options beyond choosing whether or not you’d like vision and dental.
Possibly, you’ll also have the choice between two or three plans that have variances in the cost of premiums, deductibles, and coverage.
But, purchasing health insurance independently is a whole new ballgame.
The Affordable Care Act (ACA) requires that you have some sort of coverage or face a penalty.
Purchasing insurance on the Marketplace means lots of options, however.
Consult with an independent insurance provider to help you figure out exactly what you need.
Here’s how to figure out what you and your partner or family need.
The first thing that you need to do in order to figure out the amount of health insurance you’d need is to determine the most that you’d be able to pay out-of-pocket for a medical emergency befalling you or one of your family members.
You can figure that this amount is what you could spend on a deductible.
Next, decide how much you can afford to pay on a monthly basis.
Remember that a higher deductible will give you a lower payment and vice versa.
You’ll need to consider your health status and any risk factors you may have.
If you’re young and healthy, you may opt to go with a higher deductible so that your monthly payment is more manageable.
A family with children may opt for a plan that has copays and a lower deductible due to the frequency of doctor visits.
Isn’t that what health insurance really comes down to?
Not having coverage for you and your family is like sitting on a ticking time bomb.
Securing health insurance can give you peace of mind that your family will be taken care of when medical issues come up – whether they’re big or small!
What questions do you have about securing insurance on the Marketplace?