You do not want to consider buying health insurance that is above and beyond what the Medicaid system will pay for. In fact, it is something that most people push into the back of their minds until something comes up when they have to go to the hospital. Once the bill is received, remorse sets in because you neglected to get coverage before you needed it. As the saying goes, “it is better to have it and not need it than to not have it and need it.”
The truth is that only 20% of Australian citizens are covered for all the circumstances that could arise. It truly does not matter how old you are, how healthy you are, or even how wealthy you are, illness strikes everybody eventually. A good health insurance policy is the only way to protect yourself from falling into this spiral of debt due to medical issues.
If that is not enough of a push to make you realize how important it is, then maybe the following 6 reasons to buy health insurance in 2023 will get the point across.
Helps Cover Surprise Bills
Nothing is more surprising than having an appendix burst on you, causing an emergency room visit after a long trip in the ambulance. But of course, that is not the part of the surprise that is the worst. That would be when you get the bills, and not just one, either. You can bet that there will be a bill from the ambulance, one from the nursing staff, one from the doctor, and so on. You get the point.
If you have a good health insurance policy, you will not have to worry about the amount of the bill because they will cover most, if not all, of the expenses. When it comes to your health, especially if it could mean your life, you do not want to worry about the costs that could financially bury you.
Reduces Your Risk Of Bankruptcy
One of the leading causes of a person having to file bankruptcy is by getting buried by medical bills that simply cannot be paid. When trying to pay them off, you may be putting a substantial amount of each paycheck towards the remainder of the bill, but once you figure out the amount of the interest you are being charged, it can be an endless battle that ends up in going to collections anyway.
The best way to prevent these outstanding bills from piling up is to be a millionaire, which most of us will never achieve. The other, more viable option is to have a medical health coverage plan. This can pick up the majority of the bills, leaving you with a few smaller ones to pay for, and you can set up a payment plan in which to do so. If you are still unsure, compare health insurance with iSelect to see how affordable this coverage can be.
Encourages Better Health Practices
One thing that all citizens can agree upon is that if you do not have health insurance, you are not very likely to visit the doctor. Even though it is crucial to complete all the yearly checkups to keep yourself healthy, it is cheaper to just ignore the doctor until you are in a position where you have no choice but to go in for an office visit, which will end up costing you more than if you would have been paying for a policy the entire time.
It has been shown that people with health coverage are much more likely to go to the doctor for checkups and for illnesses and injuries ranging from minor to major. These people who do not shy away from medical visits are generally in more control of their health than those who avoid medical professionals like the plague.
Covers Your Loved Ones
Considerable stress that many people deal with daily is the health and safety of loved ones. Whether it is your partner, children, or a combination of both. It can be a burdensome form of stress that can cause your health to diminish. As you all know, large amounts of stress can lead to numerous medical conditions, including strokes and heart attacks.
Having a medical plan that covers everyone under your roof can remove this stress and the chances of becoming a statistic in the morgue. It may sound a little harsh, but it is common because loved ones are one of the most important things in the world. Worrying about their health is a never-ending job, but it can be a worry that drags your thoughts down as little as possible with a simple health plan that covers them all.
Peace Of Mind
One common thing you can see from all the reasons discussed to this point is that without having an insurnace plan in place to cover any medical expenses, you may have more health problems than you expected. Having a plan in place will give you peace of mind that you cannot achieve any other way, even if you are a doctor. Today, you must have health insurance covering everything from small visits just for checkups to emergencies requiring immediate, specialized care.
Keeps You From Paying Year End Fees
Everyone has their own lives and their own specifics within those lives. What this means for many is that they do not make enough money to meet the requirements set by the governing bodies to need any coverage other than Medicaid. This is, of course, great for those that do not have a yearly income that puts them over the set limits.
If you are over, having a private health insurance plan prevents you from having to pay the extra percentage at the end of the year when you file taxes. If you do earn over and do not have health coverage, you will have to pay a fee that can equal or be greater than what it would have cost to simply pay for a health plan.
Final Thoughts
What it all comes down to is health and medical coverage. Without having a good health plan, you and your family cannot expect to be as healthy as you should be. Granted, there are a ton of things that you can do at home, and work, to keep yourself fit and in shape, but things happen. When those things come up, it will be beneficial when it comes to going to the medical provider of your choice to have a good health coverage plan in place.
