Why Do I Need Health Insurance?

I remember being younger and not giving a second thought to health insurance.

Even after failing to qualify for health insurance coverage under my parent’s plan, I still wasn’t too worried about it.

After all, I was healthy and never needed to go to the doctor for anything.

But I’m young and healthy!

Unfortunately, being young often leaves us vulnerable to feeling indestructible and not being educated about the unavoidable ups and downs of life.

If you’re young and in great shape, health insurance is still an absolute necessity. You really never know when you may become ill or injured; accidents happen every day.

It’s just like wearing a helmet when you ride a bike.  You could ride 100 times and never fall down, but it’s there to protect you just in case you do.  And that’s the value.

Aside from being ill and/or injured, enormous medical bills can pile up and leave you devastated by debt, or even worse, force you to file bankruptcy at a young age.

You may also find it more difficult to get private student loans, which might keep you out of college and limit your overall lifetime potential income.

All this at a time when you should be establishing your credit and making some of the largest financial decisions of your life, including the purchase of a home.

Interestingly, one of the best ways to avoid bankruptcy is through the purchase of various types of insurance.

So how do you go about getting health insurance?

One of the most common ways to obtain health insurance is through an employer-sponsored program.

[Also see: can I get health insurance without a job?]

Check with your company’s HR department to determine if your current employer offers health insurance.

Please note, if you are not a full-time employee, meaning you don’t work at least 32 hours per week, your employer probably won’t offer you health insurance.

Don’t let the potential cost of health insurance be a deterrent to your decision to purchase a policy.

As with any form of insurance, health insurance is designed to offer you the opportunity to trade a small pre-determined amount of money, known as your premium, in exchange for a promise to pay potentially much larger costs in the event you file an insurance claim.

Let’s face it; health insurance would not exist if it didn’t prove over time that it was more of a benefit to society than just another unnecessary expense!

The best way to ensure you receive the best coverage at the lowest possible rate is to contact an independent insurance agent or shop online to get quotes.

Once you compare several health care plans and corresponding prices, you can determine which option is best for you.