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Do I Need Health Insurance If Im Young and Healthy

Do I Need Health Insurance If Im Young and Healthy

By RMHP

Health-Insurance

Why Health Insurance is So Important (Even if You’re Healthy)

If you're young and healthy, you may wonder if health insurance is worth the monthly premium.

Unfortunately, unexpected injuries and illnesses can result in sky-high expenses that can have a lasting impact on your finances. Read on to learn why going without medical insurance is a gamble, and find out how you can acquire affordable coverage.

You never know when you’ll need health insurance

Regardless of age, almost everyone will require health care services at some point. Without insurance, you will have to pay the entire bill yourself.

Many young people are shocked to learn that a quick trip to the emergency room can cost as much as $10,000. A short hospital stay or minor surgery can cost much more. For instance, according to a recent survey, a routine appendix removal can cost $30,000 to $180,000, depending on the hospital, city, and any potential complications.

Even something as routine as a broken leg from a sports injury could cost thousands of dollars without medical insurance. Since medical emergencies are very expensive, you could quickly end up with a crippling amount of debt.

Health insurance is essential if you have chronic conditions

Living with chronic health issues such as asthma or diabetes can also be very costly. The Centers for Disease Control and Prevention (CDC) report that type 2 diabetes is becoming more common in the population, even among young adults.

According to the American Diabetes Association, the average annual medical costs of diabetes exceed $13,000 per person. Without health insurance, you may have to pay for those expenses out of pocket.

Avoid long-term health problems with the right health insurance coverage

Preventative medical services save lives. Unfortunately, people without health insurance don’t tend to seek them out due to the financial burden.

A standard health insurance plan will cover preventive services like immunizations, routine physicals, and screenings. These services are essential because they can identify potential health issues before they evolve into dangerous problems that require expensive treatments.

Preventative medical services are important because they help find problems early when the chances for effective treatments are much better. What’s more, they may be covered without additional out-of-pocket costs, such as copays or deductibles.

The ACA has made medical insurance more affordable

Young adults often forgo health insurance because they think they can’t afford the monthly premiums. To help make medical insurance more affordable, the government provides tax credits and cost-sharing subsidies that make premiums more manageable and/or lower out-of-pocket expenses like copayments at the pharmacy or doctor’s office.

When you apply for insurance through Rocky Mountain Health Plans, you’ll find out if you qualify for savings that can make your health insurance more affordable for you.

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