Advantages of Health Care Coverage

Health care and medical expenses are a major cause of concern for most people. Moreover, with so many potential medical conditions and health-related problems, it has become almost impossible to incur the cost of addressing health issues without some form of health care coverage. Whether it is purchased individually or provided by the employer, this type of coverage carries many advantages.

Financial Security

• With health care costs so drastically expensive, extended hospitalization is not always affordable for most people. A sudden or chronic illness or a serious accident of a family member that calls for long term hospitalization and treatment can break the financial backbone of a family. With health care coverage and insurance, this possibility can be avoided, as the medical bills are paid through the insurance company.

Access to Better Health Care

• When an individual enrolls for a health care insurance plan or is provided one by an employer, the insurance company issues an insurance card in the name of the individual. This card opens up avenues of health care for the individual which might otherwise have been out of reach. The card is an assurance for health care providers that they will be paid by the insurance company. So the individual receives timely and better health care than if he/she might have approached the health care provider as a self-paying individual.

  Health care coverage also allows the insured the get consultation from specialists when needed. The insurance company also takes care of requirements for long term health care and specialized therapy as and when required.

Easier Routine Check-ups

• Often, routine check-ups and general medical care eat up more out of a family’s budget than hospitalization or specialized treatment. However, with health care coverage, this becomes easier as the tab is picked up by the insurance company. With a good coverage plan, the insured also gets to choose between health care providers rather than having to go to those that have been approved by the state for general health care for the populace.

Savings

• When the health care coverage is provided by the employer, individuals have to spend less on premium payments for insurance. This allows them to save more for meeting other emergency types. Moreover, employer-provided health care coverage also directly adds to their overall income in the form of the premiums paid by the employer. If individually purchased, health care coverage results in tax savings as all premiums paid towards health insurance are exempted from taxes.

  On a broader note, health care coverage is like a firewall that protects individuals and families from unexpected medical emergencies and the financial losses that such emergencies can inflict upon them. While there might be certain disadvantages of such coverage, the sum total of advantages far outweighs such disadvantages.