Health insurance is a contract between an individual and an insurance company in which the insurer agrees to cover part or all of the person’s medical expenses in exchange for a premium. It’s designed to protect you from high, unexpected healthcare costs and to ensure you can access necessary medical services without financial strain.
Importance of Health Insurance
Having health insurance is crucial because it provides financial security in case of illness or injury, offers access to preventive services, and reduces the risk of accumulating significant medical debt. Without health insurance, even a minor health issue can lead to major financial problems.
Individual health insurance plans are purchased by individuals directly from insurance companies or through the ACA Marketplace. These plans are suitable for people who do not have access to employer-sponsored insurance.
Benefits of Health Insurance
Health insurance protects you from high medical costs, providing a safety net in case of unexpected health issues. It ensures that you don’t have to deplete your savings or go into debt to pay for medical care.
Health insurance gives you access to a network of doctors, hospitals, and other healthcare providers, ensuring you receive timely and appropriate care.
Preventive Care and Wellness Programs Most health insurance plans cover preventive services such as vaccinations, screenings, and annual check-ups. These services help you stay healthy and catch potential health issues early.
