Why do I need health insurance?

Health insurance is kind of a gamble. We may or may not need to use it, but if we do need it for any reason and we don’t have it, well, we can end up stuck in a deep hole of debt that can be nearly impossible to get out of.

You know how during the summer you like to go hiking, biking, swimming, surfing, running through sprinklers, tubing, ride jet skis, and if you’re feeling brave after a couple “beverages,” maybe your party trick is to attempt doing a back flip into the pool? Well, if you go out and do any of these things and an accident happens that lands you in the hospital, you’re going to need to pay for that. That bill you get from the hospital can easily rack up several charged items you didn’t even know were a thing like for a “semi-private” room, medications administered during treatment, the actual treatment you received, medical supplies used, etc. Health insurance is necessary in this situation so you’re only paying a maximum of $8,000 on a $179,000 hospital bill. It saves you from a burden of bills that would cost way more than the monthly cost of your insurance. Check out this article for some perspective – Medical bill for 9 year old girl’s snakebite? $142,938

Of course, if you go your whole life not needing any crazy medical procedures, then you’ve kind of won this gamble. But chances are, you’re going to need to have some type of surgery or treatment at some point in your life that costs a whole lot of money. If you only go to the doctors once or twice a year for a check-up/physical exam, health insurance plans cover these entirely so you do not pay anything for these services. There are also several generic medications that are covered by health plans so you only pay $5 – $50 for prescriptions you may need like when you’re sick with the flu.

Health insurance also gives you the option to go to an urgent care facility so you don’t have to spend hundreds or thousands of dollars to go to the hospital emergency room or wait days and sometimes weeks until you can make an appointment with your primary doctor. Nowadays, health plans also offer the option to place phone and video calls with doctors to help you treat common illnesses at a low cost that is usually between $5 – $25 dollars. These phone calls allow a doctor to assess you over the phone and even prescribe you medication that you can pick up from your pharmacy of choice. Check out what Blue Shield of California offers their members for these kinds of virtual services by clicking here.

Although health insurance can be confusing and have terms and benefits you don’t understand, it is very useful, helpful, and necessary in times of need. Having an insurance broker (like us!) is also helpful when you purchase a health plan because they can show you plan comparisons, break down benefit information, and continue to advocate for you and serve as a middle man between you and your health insurance carrier.

If you don’t know where to start with finding a health plan or need some re-evaluating on your current plan, please reach out to us here so we can help you become more confident about your health insurance decisions.