Why Do I Need Medical Insurance

Why do you need insurance? Insurance is a way of managing risks. When you buy insurance, you transfer the cost of a potential loss to the insurance company in exchange for a fee, known as the premium.. 5 Reasons Why People Need Health Insurance. If you’re one of the roughly 50 million uninsured Americans, you may wonder why individual health insurance is so important – especially if you’re young and healthy.. There are smart ways to save money, but skipping out on health insurance isn’t one of them.. Health insurance coverage – You should check with your health insurance company to find out if they cover medical care that is needed in light of a car accident. If they do, consider the cost of your health insurance coverage and if it is really necessary to pay for additional coverage under med pay.. Do you need private medical insurance? Private medical insurance (also known as health insurance) can supplement what’s available on the NHS. If you don’t already have it as part of your employee benefits package and you can afford to pay the premiums, you might decide it’s worth paying extra to have more choice over your care..

Most Americans who can afford health insurance should have it by Jan. 1, 2017 or will need to pay a tax of $695 per adult or 2.5 percent of annual income (whichever is greater). You risk financial .... Take the Do I need health insurance? health check to see if you're actually financially better off taking out a policy. If you already have health insurance, consider increasing your excess. Insurers can now offer cheaper policies with a $750 excess, up from the previous $500 maximum..

No one plans to get sick or hurt, but most people need medical care at some point. Health insurance covers these costs and offers many other important benefits. Health insurance covers essential health benefits critical to maintaining your health and treating illness and accidents. Health insurance protects you from unexpected, high medical costs.. Why do I Need Health Insurance? Written by Gavin Prout Although the government provides all its citizens with health insurance in Canada through their province or territory of residence, there are a variety of services that are not covered under the government plans..