While paying higher insurance premiums has discouraged many Americans from opting in to health insurance, in truth not having health insurance means a person would pay the full cost of medical care if they were hurt or ill.
Americans demand the very best in health care. While medical technology is developing rapidly, with the advancements, the price of medical care is going up. Currently, the price of insurance is built into what the hospital/medical professional is charging for services.
Here is how that works. Health insurance carriers work with a network of medical facilities and physicians to negotiate fees for office visits, prescription drugs, various procedures and other costs. In order to take advantage of the negotiated rates, individuals need health plans. Health insurance plans will cover some or most of any medical costs for insured individuals. However, those who do not have health insurance pay full price for all medical expenses.
Anyone opting out of health insurance because they may think they are healthy does not allow for protection from sudden, unexpected accidents or illnesses. Medical costs escalate quickly and unforeseen medical events can ruin a person’s financial health.
In any situation that requires medical care, it is best to have some form of insurance to help defray expenses. If an employer does not offer medical plans then the individual marketplace is the best place to source affordable options. If you are self-employed, a small business owner, a student or entrepreneur, the individual insurance market is the best option to find a plan that suits your circumstances.
As the current administration has been implementing changes to the health care system, it is difficult to know what kind of policy will suit your situation and budget best. When in doubt, reach out and talk to an experienced insurance agent who can help you choose what type of health insurance policy will protect you at a price you can afford.