Is Health Insurance Worth The Cost?

Avoid the Temptation of Saving Money

Obviously, if you make it through the policy term without using your health insurance, you would have saved hundreds or thousands of dollars by foregoing coverage. The temptation is real! However, if you’ve ever spoken with a licensed financial planner, they always advise to get health insurance. There is an important reason. Without health insurance, it can be a serious gamble. Reason being, just one routine preventative care or mild medical event can result in large medical bills. Simple stitches at an Emergency Room can cost thousands!

A health insurance agent can help you consider your needs and budget and find a health insurance plan that you can afford.

Health Insurance Coverage When You Really Need It

The average American health insurance plan for a family of 4 without a government “Subsidy” is $18,000ish per year. Whereas, with a subsidy, what they pay could be much less depending on their income and if they don’t have coverage offered through their employer. Their coverage generally pays the total cost of annual check-ups, which have a value of approximately $200-$300 per person in the family. If the individual needs no other care that year, they could have saved a bundle skipping health insurance coverage. However, medical costs add up quickly. If you experience a simple medical emergency, such as abdominal pain, just checking into the emergency room can cost thousands!! The ER doctor that sees you may charge you another $1,000 or so, depending on what takes place, to provide immediate care. If they order MRIs or CT scans, the price may climb even higher.

If you experience a more extensive medical emergency and require hospitalization, hospital bills may quickly become a burden. A three-day stay, for example, could set you back about $60,000 depending on what tests are ordered and what happens during your stay. Fixing a broken leg could cost $7,500. If you are diagnosed with a serious medical condition, you could find yourself hundreds of thousands of dollars in medical debt.

Even if you are not living with any chronic conditions and are in good general health, you could experience an unexpected medical emergency at any time.

What Does Health Insurance Cover?

Health insurance plans sold on the Marketplace include 10 essential benefits.

These include:

• Hospitalization
• Emergency care
• Pediatric services
• Prescription drugs
• Laboratory services
• Outpatient hospital care
• Prenatal and postnatal care
• Rehabilitative and habilitative services and devices
• Mental health and substance use disorder services
• Preventive and wellness services and chronic disease management

Some health insurance plans have additional coverage for family planning services, vision and dental care and medical management programs.

How to Find Affordable Health Insurance with Nevada Insurance Enrollment

Rather than skipping health insurance coverage, consider looking for a comprehensive plan that fits your needs and budget. At Nevada Insurance Enrollment, our health insurance agents specialize in helping you review plans across multiple companies to find the one that best fits your needs. We can also help you determine whether you qualify for government subsidies that can help lower your monthly premiums.