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No Health Insurance? Here Are the Risks.
For Americans, living with no health insurance poses significant financial and medical risks. In addition to piling up medical bills, you may face a tax penalty.
Most Americans received health insurance from their parents or guardians while growing up. Then there’s the expectation to receive health care coverage from their employer. But for many Americans who are out of work or can no longer stay on their family plan, they may be without health insurance and have to pay the penalty.
The Risks of Living with No Health Insurance
According to the KFF, in 2013, 61% of adults said the main reason they were uninsured was because the cost of insurance was too high or because they lost their job. Most of those who are uninsured come from low-income working families.
With the passing of the Affordable Care Act (ACA), the primary goal is to give more Americans access to affordable health insurance and offer financial assistance to those living under the poverty level. This law also comes with a penalty for not finding health care coverage during open enrollment.
However, there’s more than just a penalty you have to pay when you go with no health insurance. The risks you’ll take could leave you bankrupt or endanger your well-being.
The Monetary and Health Risks of the Uninsured
Many health insurance providers may make wild claims of how much you can risk by not having health coverage in order to get you to buy a policy. Truthfully, there are serious health and monetary risks that come with having no health insurance.
When you live without insurance, even the most basic care, such as a flu shot or prescription medicine, can take a financial toll on you and your family. According to Health Affairs, nearly 2 million Americans have filed for medical bankruptcy due to unexpected health problems.
In fact, an annual checkup alone can prove to be too costly for most Americans. This means that you run the risk of missing preventive care and are more likely to suffer negative health outcomes.
Living without health insurance is living with the burden of being unable to provide basic health care to you and your loved ones. Why take the risk?
At HealthMarkets Insurance Agency, we want to make it easy to find affordable, quality health care for those with no health insurance. We understand that you have unique insurance needs and can work around your budget to find you the best coverage available.