Health Insurance: What It Is and Why You Need It


Health Insurance — What it is and why you need it

  • What is health insurance?

Health insurance is an agreement between you and your insurance company where you pay a monthly amount (premium), plus a certain portion of your medical bills, and your insurance company agrees to pay the rest.

  • Why do I need Health Insurance?

Some people need to see a doctor often, while others may only need medical care once or twice a year. Either way, everyone needs medical care at some point in life. Unfortunately, getting the medical care you need can be expensive and leave you facing a mountain of debt. Medical bills can quickly become so expensive that you could be forced to file bankruptcy or even lose your home.

  • For Example:

The average cost to fix a broken leg is up to $7,500. Without health insurance you are stuck paying the entire bill yourself. Health insurance helps you help protect yourself from high, unexpected costs like these. By purchasing health insurance, your insurance company agrees to help cover a portion of your medical bills.

  • But what if I don’t break a leg? Or have other high medical costs?

There are other important benefits to having health insurance. Almost all health insurance plans provide some services for FREE. These services include free yearly check-ups, vaccines and some other screenings. Some plans even help pay a portion of the cost of prescription drugs.