Health insurance is not always cheap, and skipping out on it
could seem like you are saving cash in the short run, specifically when you are
healthy and young. Unexpected accidents and illness can occur, and they are
much more expensive when you are not insured. Something like a broken leg from
cycling, skiing or playing sports costs an average of $7,500 without insurance!
Here is the good news: while health insurance is an
investment upfront, it caps the money you will spend in a year on your health
care. Hospitalization, for instance, is one of the benefits that ACA-approved
health plans are legally needed to cover. That is to say, whether or not you
use it frequently, your health insurance protects you from bankruptcy in the
event of an emergency.
Are you feeling healthy? May types of health plans – such as
routine immunizations, physicals and cancer screenings – help you catch medical
conditions before they occur serious, that helps keep you healthy as you get
older. This is known as preventive care strategy.
Every health strategy comes with free preventive care that
can help keep you healthy and young. Even inexpensive plans get all the same
preventive services as fancier plans, which means you can buy the cheapest
health insurance available.
Depending on the annual income, you might qualify for a
subsidy, which is money the government will put towards your monthly premiums.
Grants are offered to almost half of the U.S. population and can make health
insurance very reasonable; some people even end up paying as little as $1/month
for their health insurance plans. Eligibility for a grant depends on where you
live, but if you’re the only person in your taxable household, you’ll generally
qualify if your income is under $50,000.
If you are younger than 30 and do not expect to require much
health care, you may also consider a catastrophic health insurance service.
