Have you received a notice that you are no longer eligible for health insurance coverage through your parent’s plan? Young adults generally can remain covered by a parent’s health insurance policy, but only until they turn 26. Each year, many young adults find themselves in the situation of reaching that age but not having access to employer-sponsored health coverage. Getting a health insurance plan on your own can seem overwhelming and costly. Plus, you’re young, healthy and don’t go to the doctor all that often. Do you really need health insurance? The answer is a resounding YES. Here’s why:
Illness or injury can happen anytime. Young people aren’t exempt from accidents and diseases. And the cost of healthcare continues to increase. Bankruptcies resulting from unpaid medical bills affect millions of people each year. Among those seeking credit counseling nationwide, a large majority are uninsured and have some type of unpaid medical debt. Health insurance can help you prepare for the unexpected.
One major illness or injury can be financially devastating without health insurance. It can take only one injury or illness during a period you’re without health coverage to devastate your finances. Did you know that the average cost for an emergency room visit for an adult is $1,000? That doesn’t include the costs of tests, additional medical procedures or being admitted to the hospital. Medical procedures that require hospitalization can easily run into the range of tens of thousands of dollars.
You’re less likely to put off preventive care. Studies show that people who do not have insurance are more likely than those with insurance to put off preventive care and effectively manage chronic health conditions. Research also shows that those without insurance coverage are much more likely to put off going to the doctor for a health concern. This puts them at greater risk for missing early signs of major health problems.
You’ll have peace of mind. You don’t need one more thing to keep you up at night! No one wants to worry about being at high risk for a financially devastating medical bill. Being insured provides you with the comfort of knowing that you have financial assistance when it comes to paying your medical bills in the event of illness or injury. Vision and dental care are important too, which is why we offer a wide variety of affordable choices for this type of coverage as well.
Many people don’t realize that they have many affordable health plan choices, including faith-based plans, which are alternatives to traditional insurance. At Health Choice One, we also offer short-term health plans, which are designed to tide you over until open enrollment or when you can qualify for coverage through an employer. Short-term coverage is available for as little as one month, up to one year, with the most common coverage term being six months. With a short-term plan, you can gain coverage almost immediately after completing your application. The bottom line: When it comes to health insurance, you have a lot of options in terms of coverage and cost. We can help you evaluate all your options and find the right plan for you and your family.
Another choice for young healthy people is a catastrophic health plan, generally available only to people who are under age 30. These plans have much lower premiums in exchange for significantly higher deductibles. They are designed to help cover you in the event of a catastrophic, major health issue like accident or illness.