Why Having Health Insurance is Essential
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by: Steve Klein
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Why Having Health Insurance is Important
If you're struggling to make ends meet, you might think you can save a little money by canceling your health insurance policy. While this can certainly save you some money on your immediate monthly expenses, canceling your health insurance coverage or failing to purchase health insurance can have devastating long term effects.
Avoiding Financial Catastrophe
Perhaps the most important reason to have health insurance is to avoid bankruptcy if and when, you develop a major medical problem. The reality is that major health problems like cancer or other serious conditions can cost millions of dollars to treat. If you don't have insurance coverage in place, you will be stuck having to pay these expenses out of your own pocket. And if you find yourself unable to pay these expenses, you may be forced into bankruptcy or to follow other drastic measures to repay the debt.
Expediting Recovery
When you're sick or injured, worrying about how you're going to pay your medical expenses can actually slow down your healing process. After all, the added stress brought on by excessive worry can wear out your body. In addition, you may be tempted to skip certain beneficial medical procedures in order to save money. As a result, you may prolong your suffering, and fail to meet successful treatment. With health insurance coverage in place, you don’t have to be as concerned about finances and you can concentrate on healing instead.
Planning for the Future
Failure to have a health insurance plan in place while you are younger can make it difficult if not impossible for you to obtain health insurance when you get older. This is because most health insurance companies will not provide coverage to a person with a pre-existing condition, a health issue the person had before seeking health insurance coverage.
If the insurance company does issue a policy to someone with a pre-existing condition, that condition may be excluded and the cost of the premiums will be much higher than they would be for someone without a pre-existing condition. If you already have an insurance policy in place before the condition develops, on the other hand, you don’t have to worry about trying to obtain coverage at a later date.
While everyone is aware that the cost of health insurance is on the rise, you truly cannot afford to not have coverage. By shopping around and choosing a policy that only provides you with the coverage you need, however, you can keep your costs affordable while keeping yourself protected.
Discussing your options with a qualified insurance professional can save you grief, worry and money. |
About the Author
Steve Klein is Mr. Health Insurance of Maryland. He is a full service broker and an independent health insurance agent, representing not just one company, but all the top health insurance companies in Maryland. His mission and that of his agency and Web Site is to find affordable health insurance for all Maryland residents.
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