When to Buy Health Insurance?

There are many reasons to acquire health insurance, but the biggest one is the benefits it gives you and your family during difficult times. No one expects themselves to need to use it, but accidents can happen. A lack of preparation can result in you spending thousands of dollars on something you never even wanted. Parents need to be the most aware of this predicament because children are prone to injury.

However, when at least 50 percent of the uninsured population makes less than 200 percent of the federal poverty level—currently sitting around 24,000 dollars—health insurance can be a low priority for them. Many people will actually sacrifice an important utility because of these costs. Luckily, there are healthcare providers offering affordably low rates, such as only paying five dollars a day. Nonetheless, there are many other reasons to actually acquire this needed service.

Preventing Unnecessary Hardship

Children can be incredibly injury prone and with this comes the cost of recovery. An estimated 1.7 million children enter the hospital because of a sports or sport-related activity. This can come in a variety of different forms, but the most common sport injuries happen to be basketball and football. The reasoning for these injuries vary. Basketball is seen to cause most injuries because of the lack of gear and full-on contact when handling the ball. Football is a much more aggressive sport, but it also happens to have a lot of gear involved.

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Within these two sports, a broken or fractured wrist, finger or arm stand tallest. When you don’t have health insurance this can cost you a low-end estimate of 2,500 dollars. This is in the hopes you notice it in time, which not everyone does. 23 percent of the uninsured will push off a visit to the doctor because of the costs. You might even be one of these people, but delaying this trip can transition the 2,500 dollar bill into a 16,000 dollar charge.

Understandably, this may be too much for you and can cause bankruptcy; considering 50 percent make less than 24,000 dollars a year. You might be one of these people and it’s nothing to be embarrassed about. There is a way to fix this, and it’s through health insurance. Many health insurance packages will cover up to 60 percent of the costs, some will even go up to 90 percent of the total bill.

In addition to this, many of these places are capable of covering 100 percent of the charges, but this is only possible through the use of health insurance. Health insurance is most useful during times of horrible tragedy. Heart attack is the number one killer in the nation and in many states. While the number of people who have passed on because of it has decreased, the costs haven’t.

Recovering from a heart attack can range anywhere from 30,000 dollars to 200,000 dollars. This is vastly more than what most people make in a year, especially an estimated 14 million uninsured people. With health insurance by your side you have a higher possibility of surviving and paying little to nothing. Furthermore, in recent years, health insurance has become a much more useful service to families.

Did the Affordable Care Act Help Make Health Insurance Easier to Afford?

Health insurance has evolved into an essentially mandatory service. However, not everyone was able to justify this service, which caused the marketplace to constantly fluctuate and led many people into bankruptcy. To fix this problem the government created a bill known as the Affordable Care Act. It effectively took place in the year 2010, where the nation saw an increase in the amount of people getting coverage.

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Many of the policies helped people in their endeavor for coverage. The cap placed on individuals and families was one of these policies. No longer do you have to spend more than you can afford, because there’s a maximum on how much you will spend out-of-pocket. Before, health insurance companies were able to leave most of the bill on you, which wasn’t possible for many. Now, health care providers have to pay the rest while individuals will—at most—spend around 7,350 dollars; families have a maximum of 14,700 dollars in out-of-pocket spending.

Additionally, the number of people included into your plan has been made easier to manage. Families with more than three children don’t have to wonder which of their children they are going to insure and which has to live indoors. Now, you will only have to pay for the three oldest children, who are under the age of 20, while the rest are tacked on for free.

For example, John and Jane Doe have five children, but one of them is over the age of 20. This means, they have to pay for themselves, their 21 year old, their next three oldest and the last one is included at no extra charge. Juan and Juanita Doe have four children, all under the age of 20. This means they only have to pay for themselves and their three oldest while the last child is included for free. Altogether, health insurance has been made easier to consume and manage.

The Best Health Care Provider for Families

Many health insurance packages are out there for you to subscribe to. However, deciding on the right one can be hard because of the different policies included. Each package is different in their own respective ways, which is why it’s important to read everything being presented. Insurance Line One has exemplified this through their scrupulously organized index of available services. Preventing any confusion from occurring is the main goal, because a lack of clarity can result in you spending hundreds, maybe even thousands more than necessary.

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Looking through our services you will see we start our services at a low price of 150 dollars a month. This is to create as many opportunities for those in under-resourced areas. Additionally, you will be able to take as long as you want making a decision. Our year-round open enrollment enables you to carefully look through what we have. Comprehension is vital since this will be deciding how much you pay and who you see.

Sources:

https://www.kff.org/uninsured/fact-sheet/key-facts-about-the-uninsured-population/

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