Is health insurance really needed?

Health insurance helps secure your financial future For many young adults like you, paying for your own health insurance coverage is new and may seem unimportant. But in reality the opposite is true. Having good health insurance is one of the most important parts of your financial plan. Health insurance helps reduce medical costs, making health care more affordable and, therefore, more accessible.

Most insurance companies require that you start your doctor's visit with your PCP and get a referral to seek care from a specialist. If you're healthy and don't end up in the emergency room, your annual costs are nearly 10% lower, as you pay for services as needed instead of having insurance. Insurance companies vary widely in how much they cover a chronic illness, and while you may only have to pay a copay for doctor visits, different lab tests, tests, medications, and more, it means shelling out more money financially. On the contrary, insured individuals are much more likely to interact with the health care system and turn to their doctors for their intensive care needs, as well as for routine care, such as physical exams and annual exams.

At the same time, health insurance ensures that you have easy access to comprehensive care, eliminating the fear of being excluded from the health care system. There are different companies and platforms available to help you save on your medical expenses, from finding the best insurance rates to cheaper medications. Health insurance covers essential health benefits that are critical to maintaining your health and treating illnesses and accidents. Health insurance costs are driven, in large part, by the costs of managing long-term medical conditions, the costs of caring for an aging population, and the costs of new drugs, procedures and technologies.

If you need a filling or treatment, part of the treatment is covered by insurance and you will have to pay the remaining costs. However, health insurance can be expensive, you'll still have to pay some health care expenses, and plans may have coverage restrictions. Most health care plans offer preventive services and offer many vaccines and tests at no cost, preventing illnesses and subsequent complications. The impact of having health insurance is even greater for more serious illnesses because it helps you avoid large medical debts and protects your financial assets.

Now that you're enrolled, we'll send you reminders about deadlines, as well as tips on how to enroll, stay enrolled and get the most out of your health insurance. For example, health insurance can be expensive and often drains budgets to a breaking point with high monthly costs. Health insurance plans and group health benefits are insured or administered by CHLIC, Connecticut General Life Insurance Company (CGLIC), or its affiliates (see a list of legal entities that insure or manage group HMOs, dental HMOs, and other products or services in your state).