Life is not easy especially if you are struggling to make ends meet. If you are living from paycheck to paycheck, having insurance seem like an avoidable expense. You have to realise that the opposite is true. While there are many ways to save money, going without insurance is not one of them. Forgoing insurance is not wise, nor it will save you money in the long run.
Having insurance is critical to maintaining your health by treating illness even accidents. It is advised to plan for healthcare early since life is unpredictable – you will not know when a medical emergency situation will arise. You need to take a look at the advantages of having health insurance to understand its gravity. Here are the advantages of having health insurance:
It will save you from financial ruin in the future
Health insurance is not just about health care but also a form of protection from financial ruin in the future. When you think about it, insurance can be expensive but without the necessary coverage, it can cost you more. Keep in mind that medical debt is the major cause of personal bankruptcy filings in the United States.
It can increase savings
If you consider health insurance, it can actually increase your savings especially if there as an opportunity that your employer will provide health coverage.
It will provide you access to preventive and primary care in the future. Uninsured people get sicker and more likely to die prematurely because they cannot avail of preventive care, chronic disease management, and even annual checkups. If you do not have insurance, you will be reluctant to submit yourself for a checkup and before you know it, the problem grew bigger.
It will give you access to affordable drugs
Without insurance, drugs become more and more expensive. If you have insurance, the cost of the prescription drugs will be lower. With this, you will not forgo medications needed to stay healthy unlike those who are uninsured.
What you need to know about Medicare
Now you know the advantages of having health insurance, it is the time that you decide the kind of services you want to avail in the future. In the United States, there exist virginia medicare plans. Medicare is a government program that provides health insurance to people over 65 years old. It also applies to people below 65 years with ESRD (End-Stage Renal Disease) and receiving SSDI (Social Security Disability Insurance).
The program is funded in part by the federal budget, premiums you contribute and the taxes (like Social Security and Medicare) you pay. Once you become eligible, you can enroll and choose Medicare benefits – Original Medicare (traditional fee for service program through the federal government) or Medicare Advantage Plan (private insurance offered by companies with Medicare contract).
Original Medicare has two parts – Part A (Hospital Insurance) and Part B (Medical Insurance). Medicare Advantage Plan is known as Part C. There is also Part D, which tackles about the outpatient prescription drug insurance. You have to understand your choices so you can make an informed decision at the end of the day. Remember that how you choose your Medicare coverage can significantly affect health services you can avail in the future.