With the Affordable Care Act mandating that most Americans buy health insurance, some folks – particularly those people who are healthy or young – are questioning why they want coverage in any way.
Most consumers worth and need health insurance, but they can not manage the coverage or have been shut out from the market because they’ve preexisting medical conditions, according to research by the Kaiser Family Foundation.
Consider these factors when determining whether to purchase health insurance. Without coverage:
You may have to pay a fee.
Perhaps you are healthy now, but the beginning of a sudden or serious illness (cancer, diabetes, appendicitis) or a traumatic occurrence (ski injury, car crash) can make you with staggering medical bills. The inability among the most common reasons people file for personal bankruptcy, set you back for years and can destroy your credit history.
You will not have access to preventative primary care and care.
The law requires insurance companies to cover yearly checkups and preventative care – mammograms, vaccinations, colonoscopies and prostate cancer screenings – with no copay. That means you are more likely to remain healthy when they are simpler and more affordable to treat and get health problems early.
Young individuals gain from this type of health insurance coverage even healthy. “Contrary to popular belief, young adults have a demand for preventative care, checkups and long-term disease control, whether they’ve asthma, diabetes or another illness,” says Sarah Dash, a research professor at Georgetown University’s Centre on Health Insurance Reforms. “Well-woman care is critically important, also. Young women who might be considering beginning a family down the road demand to care for themselves in their 20s.”
You may have trouble getting follow up attention.
Hospital emergency departments care for patients with pressing demands, like head injuries or broken bones coming from an injury, no matter their ability to pay. “But your ability to get needed follow up care, rehabilitation care or whatever service you have to get back as much total function as potential will need coverage or a reasonable sum of money,” says Ellen Pryga, manager of policy for the American Hospital Association.
You may pass up on alternatives to cancel coverage prices.
For the very first time in history, people who have average and low incomes meet the criteria for tax credits and subsidies to offset the price of premiums and out-of-pocket expenses for strategies sold in the state-established health insurance markets (also called “exchanges”) created by the Affordable Care Act. These markets will start selling health insurance coverages in November with coverage starting Jan. 1, 2017. See healthcare.gov or call 1 800 318 2596 for info about the market in your state.
You may must wait to get coverage.
Generally, consumers can simply buy health insurance during open enrollment seasons that are specific or within 30 days of life-changing events, like marriage, divorce, the birth of a child or a change in job status.
“It is not going to work that way.”