If you’ve never purchased health insurance on your own and don’t deal with many health issues, it may be tempting to forgo coverage to save on monthly premiums. However, taking advantage of a health plan may help you save on costs in the long run.
While you don’t plan to get sick or hurt, you may need health care if you’re faced with an unexpected health issue or accident. Plus, even if you’re feeling healthy now, annual preventive care may help identify early-stage health issues.
With that in mind, here are three reasons why you may want to consider enrolling in a medical plan:
1. Health care cost savings
Depending on which coverage you choose, your plan may help cover unexpected medical costs. A trip to the ER costs an average of $2,200. Having an insurance plan puts a maximum on your out-of-pocket expenses, which may offer added financial protection. Also, once you’ve met your plan’s deductible, some health plans may take care of 60% to 90% of covered expenses.
Health insurance also helps cover preventive screenings, like vaccines and annual check-ups, which are important for maintaining your overall health. While these may not be large expenses, insurance often covers network care, avoiding some out-of-pocket expenses.
2. Avoiding state tax penalties
While you are no longer penalized on a federal level for being uninsured, some places still enforce an individual mandate for health insurance, including:
- California
- Massachusetts
- New Jersey
- Rhode Island
- Vermont (no penalty for non-compliance)
- Washington, D.C.
Penalties vary but are often an amount based on your income or a flat rate per adult. Signing up for health insurance may help avoid that penalty.
3. Access to preventive care
Preventive care may help keep your health in check by addressing issues before they escalate into something larger. But nearly half of Americans say they skipped a recommended medical test or treatment, due to the presumed cost.
Health insurance coverage is meant to help improve access to quality health care services, which is important for maintaining health, preventing and managing disease, and reducing unnecessary trips to the emergency room. People who routinely seek health care typically have better health outcomes and lower overall medical costs.
Remember, health insurance is designed to help protect you from financial burdens and serious health issues. During open enrollment season, consider these important tips to help you choose a health plan that fits your needs.
Visit uhc.com to learn about health insurance options.
