In most cases when people do not face any significant health issues, buying health insurance is not their priority. However, this may be the best time to buy health insurance coverage. You may have wider access to several plans at affordable costs in a scenario where an ailment afflicts you. You are either denied coverage or offered insurance at high rates.
This blog will focus on why health insurance is important coverage for everyone today, with spiraling medical costs. We offer four reasons that prove its benefits for you as a health insurance owner.
- Health Insurance Reduces Out-of-Pocket Healthcare Expenses
Each health plan includes a network. Once you pay the deductible, you can consult a wide range of physicians and access healthcare facilities within the network at reduced costs meaning lower out-of-pocket expenditure. Your plan may also offer benefits such as specific generic drugs at reduced costs and free-of-cost disease management programs.
You may ask why health insurance is important. Staying adequately prepared helps to avoid large unexpected medical bills. There are no guarantees that you’ll always be disease-free and accident-free. If you do not have the required coverage, you may be forced to tap on funds reserved for your other needs, thus endangering your financial stability.
- Easier Access to Preventive Care Programs
Another significant factor that shows why health insurance is important is the access of insurance owners to preventive care at free or considerably reduced rates. Most health insurance plans include preventive care programs such as immunizations, annual check-ups, health screenings, and chronic disease management.
This facility for getting the required tests done at minimal or no expense is advantageous as you have a better chance of receiving timely and accurate diagnosis and treatment. Without a health plan, prohibitive preventive healthcare bills may make you neglect your initial symptoms leading to a more serious health condition later.
- Mandatory Health Insurance for All Californians
All Californians are now mandated to carry qualifying health insurance throughout the year. It means that if you do not have health coverage, you must pay a penalty when filing your tax returns unless you are eligible for an exemption. The penalty may differ for each year. For the tax year 2022, the penalty to be paid is $ 850 per adult and $ 425 per child under 18 years of age. So, if you are a family of four without health insurance, your penalty may add up to a whopping $ 2,550.
This must be a good enough reason for you to understand why health insurance is important.
- Sense of Financial Security
Having the right health insurance offers you peace of mind and the confidence to face any health-related eventualities with the assurance that you are financially secure.
Ensure Good Health with Hoffman Brown Company
If you’re seeking a health insurance plan tailored to your unique needs and financial considerations, don’t hesitate to reach out to us. At Hoffman Brown Company, our dedicated team of professionals is eager to assist you in choosing the ideal plan. We’re committed to securing your access to top-notch medical services while keeping affordability in mind. Contact us to get started with excellent value.