Why Having Health Insurance is Important

Having health insurance is important because, let’s face it, most people need medical care at some point. Even if you are in good health, you never know when you might have an accident or get sick. 

With health insurance, you can go to the doctor for:

• Preventive services to help you avoid serious illness.
• Care for ongoing health conditions.
• Treatment for new health issues, such as chronic disease or injury.

Plus, being a member of a coordinated health plan will likely get you better quality care. 

You can enroll in or change 2022 Marketplace health insurance right now. Open Enrollment for 2022 health coverage began on November 1, 2021, and runs through Saturday, January 15, 2022.

Why Having Health Insurance is Important for Your Budget

Having health insurance is important for your budget in many ways. It helps protect you and your family from the financial burden of unexpected health costs and keeps you healthy by covering preventive care costs.

In addition to protection against high medical costs, the Affordable Care Act (ACA) implemented cost-sharing subsidies to make insurance more affordable and increase insurance coverage for eligible Marketplace enrollees.

Cost-sharing Subsidies

Cost-sharing is when you pay some of your health care costs, and your health insurance company pays some of your health care costs. Plans with higher cost-sharing tend to have lower premiums.

Cost-sharing subsidies reduce enrollees’ out-of-pocket costs due to deductibles, copayments, and coinsurance when they use covered health care services.

• If you get a service or procedure that’s covered by a health or dental plan, you “share” the cost by paying a copayment or a deductible and coinsurance.
• If you get a service or procedure that’s not covered by a health or dental plan, you must pay for health services out of your pocket.

The ACA made a significant amount of preventive health care exempt from cost-sharing. Things like age-appropriate mammograms, cholesterol screening, and many vaccines aren’t subject to a deductible, copayments, or coinsurance (Verywell Health, 2021).

Getting Started

Access to affordable and comprehensive health insurance is critical and can help you receive medical treatment at a lower cost than paying out of pocket. Contact me today to start shopping for, applying for, and buying a health insurance plan during the Open Enrollment Period.