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No Health Insurance - Why Going Uninsured Is Never A Good Idea

Agnus Smith | Published: December 05, 2018

Woman paying health bills

Health is a crown that the healthy wear, but only the sick can see it. You may have heard, or read this famous quote before. Loosely interpreted, it means that most people take their health for granted, and only appreciate it when they’re sick. The thought process is all too common in today’s day and age, which is why there are millions of Americans choosing no health insurance over getting coverage.

The decision to go uninsured is not made lightly, but is often made for financial reasons. Insurance has become an expense that not many can afford, and people are willing to take a gamble when it comes to their health. Here’s why going uninsured is never a good idea.

What Is Health Insurance Used For?

Health insurance is used to help pay for your health care. That’s the easiest way to define what healthcare is used for. It is used to cover services that range from routine checkups at the doctor’s office to covering major costs because of a severe injury or illness.

To buy health insurance, you have to pay a monthly fee called a premium. Every insurance company has different rules for using health care benefits. Before buying one, you should consult the company that sells it.

The Growing Cost Of Health Care

Health care prices in the United States, since 2007, have increased by 21.6% which is more than the general rate of inflation in the economy (17.3%). That is exactly the reason why patients are more afraid
of the medical bills they will be paying instead of the actual injury or disease that they are suffering from.

Because of the rise in health care costs, people prefer not going to the doctors. According to research conducted by NORC at the University of Chicago and West Health Institute, 44% of the Americans denied visiting the doctors because of the high cost.

The Risks Of Choosing No Health Insurance

Some people choose no health insurance and have to face the risks of not having coverage. Their reasons for being uninsured are that healthcare is too expensive or they don’t need it, especially if the individuals are young and healthy. After all, not being uninsured saves them a lot of money. However, the thing is, under the Affordable Care Act, you are required to have health insurance. You cannot remain with no health insurance Following are discussed the risks you may face if you choose no health insurance.

Medical Debt

It is already established here that bearing medical costs on your own can be very costly and the risks of not having coverage can be severe. To this day, medical bills can take a significant toll on uninsured patients. It does not matter if a person is somewhat wealthy, a severe illness or injury can prove to be very burdensome on the pocket.

According to an assistant professor of Health Services Administration, Dylan Roby, a cancer diagnosis, car accident or even something as a broken leg can cost thousands of out-of-pocket dollars.

Limited Access To Services

One of the main risks of going without health care insurance is that you will have limited access to services. For example, if you fall ill, because of your limited access, you might not get the right treatment which might result in your health becoming even worse. If unfortunately, you face serious disease, then even disability is in the cards for you.

Added Stress

Imagine you are a person who does not have a very high-paying job. You spend money on things that are absolutely necessary for a human survival. Now, if you become a victim of an accident and you are a person with no health insurance, the hospital is asking for a very high amount required to perform surgery on you.

Just the thought of not being able to pay money when you need it the most can be very heartbreaking. Not just that, medical bills for basic doctor visits can be an added stress.

Tax Penalty

Although the tax penalty is ending in 2019, some states still require everyone to be insured, or they will have to pay the penalty. Introduced in 2014, the primary purpose of the Affordable Care Act (ACA) was to reduce the number of uninsured individuals in the United States.

This tax penalty is also known as shared responsibility payment. You will have to pay 1% of your income, or $95, whichever is lesser for you.

Find Low-Cost Options With FirstQuote Health

If you are also one of those individuals who plan to remain uninsured, then you need to weigh out the risks that you might face if you do so. There are many places where you can find what would benefit you the most, places where you can compare your quotes. FirstQuote health is one such place which will make it easier for you to understand where you stand and what you need.