Individual Health Insurance: Managing Unexpected Medical Costs.

personal health insurance

A medical emergency can happen anytime. You could get into an accident, have a heart attack, or have pregnancy complications. Having a good personal health insurance plan can provide financial assistance and peace of mind that your individual medical care will be covered.

Paying for medical emergencies out of one’s pocket can be financially devastating and is the leading cause of bankruptcy in the United States. In fact, according to the U.S. Department of Health & Human Services, approximately 5.2 million people have gained health coverage since 2020, including 4.1 million adults aged 18 to 64 and 1 million children aged 0 to 17. Such an increase in health insurance coverage shows how many people realize how important it is. Read on to see how a personal health insurance provider can protect you in the event of unforeseen medical expenses.

1. Emergency Room Visits

Imagine this situation: you are a young adult in the prime of your health. You can walk for miles, as you’re fairly athletic. You assume nothing will happen, until it does, by way of an accident that leaves you in a coma. Comas, bullet wounds, falls that break legs, and drunk drivers don’t discriminate based on age. Emergency rooms also don’t discriminate based on age, but they cost a pretty hefty penny. Without insurance, an emergency room visit and several overnight stays can quickly add up to several thousand dollars. The right individual health insurance plan will cover all or most of such emergency care.

2. Long-Term Care

An emergency room visit may result in an injury that requires long-term care, especially in the case of a stroke or paralysis. After a stroke or paralysis, a long rehab period can follow to aid in your recovery. People often need long-term care services for chronic illnesses like diabetes or anything that leaves them needing ongoing daily assistance. Case in point, a diagnosis of dementia or Alzheimer’s may lead to you eventually needing ongoing and round-the-clock help. A good personal health insurance provider can help give you peace of mind if you ever need ongoing care.

3. Childbirth Costs

After receiving news that you are expecting a baby, it’s natural to be excited. However, the reality of the pending expenses may cause concern even with insurance coverage. Children are a blessing that cost money, and those expenses begin at birth. That’s why most plans cover prenatal care. If you plan on becoming pregnant, you’ll need regular checkups to ensure both you and the baby are healthy and safe during those nine months. Plus, consider the costs of delivery and necessary follow-ups. With the right individual health insurance plan, your childcare costs will be covered.

4. Ambulance Transport

Ambulances are a great service. In the event of an accident or emergency at home, they are available to transport you if you are sick or injured and need to get to the nearest hospital as soon as possible. However, it’s not a free service. If you need to call an ambulance, you’ll have to fit the bill. Without health insurance, you could find yourself hundreds of dollars in debt, just due to the ambulance ride! Luckily, a good individual health insurance plan can cover those costs. More comprehensive personal health insurance plans may pay for non-emergency rides as well.

5. Necessary Prescriptions

If you have a chronic issue such as high blood pressure, diabetes, or an autoimmune disease, your primary care doctor has most likely written you a prescription. If you suffer from depression or another mental illness, you may also be on medication to manage it. Such medication can be very expensive to pay for out-of-pocket, but insurance can help cover all or most of those costs. There have been horror stories of people skipping doses to extend their current prescription because they had to pay for it with no insurance. Needless to say, doing so can have devastating results for illnesses like diabetes where one must take insulin.

Obtaining a proper personal health insurance plan is a great way to ensure you have the emergency care you need. Anyone can get sick, develop a chronic illness, unexpectedly need long-term help, or have dormant mental illness rise to the surface. Even if you’re as healthy as a horse now, you’re not exempt from needing to go to a hospital at some point. Take the right steps to protect yourself and choose the right individual health insurance provider. If you need assistance, contact our office today for more information. Our team here at Health Insurance Advisors would love to be a part of protecting you, financially and otherwise.

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