Every person is in need of health insurance – even healthy individuals. Health insurance policies nowadays have evolved, incorporating within them various benefits. Health insurance can serve as an investment, a form of savings, a personal fund, and most importantly, can help in maintaining and prolonging the health of the entire family. These benefits are an added bonus aside from the traditional function health insurance policies – to provide financial support and protection in times of dire health emergencies such as accidents or sicknesses.
Health insurance has many benefits, and some of these are enumerated below.
1. Peace of mind
The main selling point of health insurance is nothing less than peace of mind. That is the actual product of a health insurance plan. One never knows when and where accidents and sickness can occur. Hospital treatment for injury and serious diseases has a very high price tag. Once these begin to afflict a family member, costs can be significant. Indeed, the burden could be insurmountable and can devastate the family’s finances.
Modern health laws thus require households to acquire health insurance. Otherwise, they are penalized. Having health insurance means that a major portion of hospital and health care bills are not shouldered by the patient.
In addition, health insurance companies also encourage regular health check-ups, the costs of which are covered by the plan itself. Having routine check-ups with the doctor is a good way of preventing serious illnesses. Dreaded diseases are avoided through early detection, and thus, insurance companies pay a smaller amount in the long run. Both plan holders and insurance companies ultimately benefit.
2. Financial protection
Acquiring health insurance may initially be costly, but just like any other investment, it can save money in the long term, affording the plan holder secure financial protection. Oftentimes, medical emergencies are unwelcome visitors, arriving when they are least expected and taking the family by surprise. Because they are unforeseeable, preparing for them requires advance and proper planning. Health care costs can be very high, with staggering bills that can cripple a household’s financial stability. Health insurance can alleviate this condition once it arises, for it can reduce the financial liability of the patient and help the family retain their savings.
Various wellness resources and tools
As previously mentioned, various plans for health insurance are now equipped with many other benefits that are not available just twenty or ten years ago. Now, plans can include yearly check-ups, vaccines, preventive screenings, twenty-four-hour hotlines for nurses, discounted prices for alternative care treatment and exercise programs, and even prescription medicines.
In addition, there are online tools which further help plan holders monitor their health. These tools assist in estimating the costs of health care as well as managing insurance claims. Phone apps for monitoring and encouraging better health are now available as well.
If the reverse question should be asked: what will it benefit people NOT to have health insurance plans? Well, aside from not getting all the benefits, non-plan holders certainly become vulnerable to health care costs, which could leave them in serious debt and bankruptcy. The sad thing that they do not realize is that illness is not a question of “if,” but a question of “when.” Without exception, everyone – even if they do not figure into an accident – will eventually get sick. Getting sick and growing old is a fact of modern life; it is inevitable. And therefore people should view health insurance – with all its benefits and perks – as an essential to life. They should therefore get their EHIC card as soon as possible and not procrastinate.