Here Is Why You Need To Invest In Health Insurance
Here Is Why You Need To Invest In Health Insurance: Many people, especially the young who are quite healthy are questioning the need to pay for health insurance. Although it is deemed mandatory for the majority of the population to have health insurance according to the Affordable Care Act; it is essential to be prepared for the worst since life can be unpredictable.
For people who are not convinced that they should buy it before health insurance premium hikes, should read ahead to know some of the main reasons paying for health insurance for sure.
Penalty
Residents of the United States of America who can afford health insurance should definitely have it. Otherwise, they will have to pay a federal penalty. The fine is about 2.5% of the annual income.
Financial Setback
You might be a healthy young man but the truth is that accidents are unpredictable and whatever healthy routine you might follow, you cannot guarantee a healthy life; no one can. You will have to pay for all the massive bills that will drop on you like atomic bombs when the situation arises if you don’t have health insurance.
Most people without health insurance cannot pay for the medical bills and those who are out of options, file for bankruptcy. Such a step harms your financial credibility and drags you back and your years of hard work melting in front of your very eyes.
Preventive Measures
The law demands from the insurers to cover all the regular checkups and preventive care such as vaccinations, post-cancer screens and mammograms without paying out of your pocket. Such preventive measures make sure that any drastic situations do not arise and make sure you stay healthy. Nevertheless if you do have a terminal illness such as cancer, it can be diagnosed and treated in the initial stages.
You might need to wait
Health insurance is not like buying chocolate from a nearby store; generally, there are open enrollment seasons in which you can get health insurance. You can also get life insurance within thirty days of a life-altering event such as marriage, the birth of a child or a reform in employment, etc.
So hurry up before it’s too late!
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