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Is Health Insurance Worth The Cost?

by | Oct 5, 2024 | Health Insurance

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Before You Cancel Your Health Insurance, Do Your Research

As living costs get higher, many households across Nevada are looking for ways to reduce expenses. For some, cutting down or even eliminating the cost of health insurance may seem like a simple way to keep more money in the bank without reducing their standard of living. This may be especially true for those who are young and healthy and do not expect high medical bills anytime soon.

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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.

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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.

At Fault – If You Caused an Auto Accident

At Fault – If You Caused an Auto Accident

The responsibility of who pays what in Nevada is contingent on who’s at-fault in an auto accident. All drivers in Nevada have an obligation to drive their automobiles safely to reduce any risks of potential accidents. In Nevada, if you are the at-fault driver (the person that caused the accident), then you are responsible to “make whole” the individual or property you hit.

At Fault – If You Caused an Auto Accident

I Witnessed A Car Accident; What Do I Do?

A car accident can happen in the blink of an eye and witnessing one can be scary. After an auto accident, all drivers involved are required to stay at the scene where information is exchanged for auto insurance purposes. But what should you do if you witness a car wreck?

At Fault – If You Caused an Auto Accident

Accidents / Vandalism: Does Auto Insurance Cover Personal Belongings?

Personal items such as a tablet, wallet, or any personal valuables are not generally covered in your auto insurance policy. Those items would be covered in your homeowners/renters policy. You would have a deductible to pay for first, and then you’d need to consider the consequences of a claim on your homeowners policy.

 

By page visits (this month)

#1) Health Insurance Subsidy Chart

#2) Health Insurance

#3) Health Insurance WITH a Subsidy

#4) Insurance Blog

#5) Request a Quote

By page visits (this month)

 

#1) Health Insurance Subsidy Chart

#2) Health Insurance

#3) Health Insurance WITH a Subsidy

#4) Insurance Blog Posts

#5) Request a Quote

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