Why should the young and healthy buy healthcare coverage?

Having healthcare coverage, even if you are young, is important for several reasons. Uninsured people receive less medical care and less timely care, they have worse health outcomes, and lack of insurance is a fiscal burden for them and their families. Moreover, the benefits of expanding coverage outweigh the costs for added services 

1. Less Stress.

When you are starting out, not understanding health insurance and therefore not buying coverage, can often contribute stress to your life. Admitting you don’t know how health insurance works, where to apply for it or what your options are, could lead to comprehension and coverage if you ask for help from a parent, grandparent or mentor. 

2. Improved Health.

Sacrificing your health to save money could lead to even greater problems, with even bigger price tags, down the road. While you might feel healthy and invincible in your 20s, know that a catastrophic illness or injury can happen to anyone — and if it happens when you don’t have insurance, you run the risk of decimating your finances and going deep into medical debt.

3. The Ability to Actually Save Money.

From a cost perspective, understand that you can save a significant chunk of change if the prescriptions you take regularly are on the formulary of your plan (that is to say, they’re covered). Also realize emergency room visits are expensive without healthcare coverage. 

The icing on the cake, by opting for a personal health insurance policy, is the tax benefit. Payments made towards health insurance premiums are eligible for tax deductions under section 80D of the Indian Income Tax Act. Individuals less than 65 years of age can claim a deduction for the health insurance premium paid for themselves, or for their spouse, children or parents.

4. Coverage You Can Afford.

Don’t mistakenly assume you can’t afford healthcare coverage. You can’t be denied coverage for a pre-existing health condition and preventive services such as shots and screening tests are free. It will end up costing less for premiums than the cost of a broken arm, or a bad illness. The benefits of health insurance are accessible through the healthcare marketplace. No one plans to get sick or hurt, but most people need medical care – like a doctor visit, a prescription drug, a lab test, physical therapy, or counseling – at some point. These services can be expensive without coverage. 

5. Physical Well Being.

Your health determines your performance and the more you perform, the greater your chances of success. You are the owner of your body and mind and should be able to feel when you are on the right track mentally and physically. “Health is a state of complete physical, mental and social well-being and not merely the absence of disease or infirmity”. (World Health Organization). Your physical health is crucial in understanding your overall health and how it affects your success. An unexpected illness or accident has the ability to sidetrack all your effort regarding your professional life.

6. Ability to Make a Life Change.

You might be thinking of a life change, or life might change without your consent. Healthcare coverage needs to be sustainable, what we feel meets our requirements in our 20’s, needs to adapt as we travel through life. Once it becomes apparent that your healthcare cost may only escalate in the future due to the  rising cost of living, it is the right time to buy coverage. If you buy healthcare coverage at a young age, you can take advantage of the many benefits.

7. The Appearance of Being “All Grown Up”.

Buying a health insurance policy is cost-efficient while one is young and free from medical complications. The premium is lower and the policy offers comprehensive coverage in comparison to a policy purchased at an older age. As an individual grows older, the cost of the coverage increases.  If you develop health related issues, most health insurance companies will have an upper age limit for the policies, which means you might end up with limited options. You can enjoy the benefits of a cumulative bonus in the form of a no claim benefit if your policy is renewed without any claims.

8. Mental Strength, Not Just Physical Strength.

Physical health and mental health. A clear distinction is often made between the mind and the body. Poor physical health can lead to an increased risk of developing mental health problems. Similarly, poor mental health can negatively impact on physical health, leading to an increased risk of some conditions.

Depression leads to worsening job performance which leads to unemployment, which leads to further depression. Depression has been linked to a 67% increase in the risk of death from heart disease and a 50% increase in the risk of death from cancer. This is because people with mental health conditions are less likely to receive the physical healthcare they are entitled to receive. Mental health service users are statistically less likely to receive the routine checks (like blood pressure, weight and cholesterol) that might detect symptoms of these physical health conditions earlier. They are also not as likely to be offered help to give up smoking, reduce alcohol consumption and make positive adjustments to their diet.

9. The Advantage of Technology.

Technology is reshaping the health insurance space. Plan information, reviews and price comparisons are now at your fingertips. Now is the time to turn to brands that can offer maximum convenience at a reduced price. Take advantage of a digital national healthcare marketplace that offers greater choice and clarity of options.

10. A Little Faith.

No one plans to get sick or hurt, but most people need medical care – like a doctor visit, a prescription drug, a lab test, physical therapy, or counseling – at some point. These services can be expensive. 

Today’s world is full of information, the difficulty is in trusting the validity of the information as well as the clarity. The volatility in the Health Insurance market is at an all-time high and expected to continue for several more years. It is necessary to work within a healthcare marketplace that provides transparent information, more freedom of choice, and unprecedented insights.

Candor USA is an S-a-a-S company that provides a marketplace that enables Consumers, Brokers, Carriers, and Groups achieve valuable outcomes. Candor’s goal is to be the healthcare companion that enables Americans to access the information and solutions they need to achieve a state of complete independence, success and wellbeing.     

from Candor USA Inc. https://ift.tt/2sgfPub