Health insurance is something that doesn’t seem so urgent when you are in your 20s. But as you grow older, it becomes one of those things that feel risky to avoid having, especially when you decide to settle down. Whether you don’t remember the last time you got sick or the last time you logged on to a medical patient portal, health insurance is important at any age.
Investing in medical insurance is another way to invest in yourself. Today, we’re going to tell you why.
We cannot predict when an accident will occur; what we can control is how we can react in the aftermath. Many people easily bankrupt themselves after only a few medical emergencies that see them staying at the hospital for weeks at a time.
In 2020, Credit Karma found that 20 million members have a combined $45 billion in medical debt. This translates to $2,200 in dues for each person. Previously, Bankrate had reported that the average American household only has $8,863 saved for backup. And in 2017, the nonprofit Health Care Cost Institute noted that a single emergency visit to the hospital could cost you a shocking $1,389, a value 176% higher than what it was a decade before.
No one wants to be caught unawares by a calamity. But you also have to prepare for how you can continue after you pull through.
Prevention Over Cure
According to the Centers for Disease Control and Prevention, there are at least 34 million Americans who have diabetes, while obesity had at least 42% prevalence from 2017 to 2018.
Medical insurance does not necessarily make you healthy. What it helps you find out are the health factors to watch out for through having regular checkups covered by plans, including blood, urine, and cardiac tests. Repeated over a long period of time, routine checkups keep you strong so that you have a higher chance of avoiding serious illnesses in the future.
As we have already mentioned, accidents occur all the time. It’s just part of life. Due to this reality, our overall health and the probability of medical expenses can cause us more anxiety that adds to the stress of everyday living.
In 2007, the American Psychological Association conducted a survey on stress. They found that at least a third of the population suffers from it. Seventy-seven percent of the respondents answered that their stress has physical symptoms, like fatigue, irritability, and the failure to sleep comfortably at night.
One of the reasons people buy medical insurance is for their peace of mind. This is evidenced by a McKinsey study where most people noted it as their top motivation for subscribing.
Clearly, when we experience less pressure on our mental health, this adds to our wellbeing, enabling us to work better, feel better, and live just the way we like. Either way, whether we choose to have insurance or not, it is necessary to keep ourselves fit.
Remember, when we decide to let go of unnecessary anxieties, we are able to make time for the other things that truly matter in life.