Health Insurance is a type of insurance that pays for your medical costs in the event of an illness or accident. It gives you peace of mind knowing you will be covered if the unthinkable happens. It also allows you to focus on what’s most important — getting well.
Many people get health insurance through their employer or union, but you can also buy individual health insurance policies or coverage on the marketplace if you don’t have access to group coverage. Health insurance plans are regulated at both the state and federal level. Depending on where you live, there are different insurance commissioners and insurance departments that oversee state-regulated coverage. There are also federal agencies that regulate Medicare, fully-insured group coverage and individual/family coverage.
Most health care plans cover a range of services, including routine checkups and preventive care, hospitalizations, lab work, prescriptions, mental health treatment and more. Some plans even offer discounts on healthy lifestyle behaviors, such as regular exercise and nutritious eating, which can lead to better overall health.
The main purpose of health insurance is to make healthcare more affordable while protecting you from the financial repercussions of accidents and unexpected illnesses that can quickly add up to thousands or even millions of dollars in bills. Having health insurance can help you take control of your finances, giving you the peace of mind to pursue other goals in life, such as buying a home or starting a family.
You can choose a plan with an individual or family policy, which is ideal for you and your loved ones. You can also look for a health insurance plan that has a lifetime renewability feature, which means you won’t have to worry about your policy expiring. It’s a good idea to assess your needs and those of your loved ones to determine which type of plan is best for you.
One disease can rob you of all the savings you have made for your children’s education, your wedding or your dream retirement home. That is why it is crucial to protect yourself and your family with a health insurance policy.
Whether you want to keep your current doctor or choose to go with a new one, you can always find the right plan for you. You can also select a plan that includes your preferred hospital in its network to save you time and money when you need medical attention.
Health insurance can benefit everyone from young to old, from the healthy to the unhealthy. But it is especially valuable for those who have preexisting conditions, as they may not be eligible for other coverage without a waiting period. With the penalties for not having health insurance and the risk of high unexpected medical costs, there is no reason to avoid signing up for a health insurance plan.