Here Are The Dangers and Risks of Not Getting Health Insurance
You might have your reasons for not wanting to seek any health insurance, but the fact of the matter is that your decision is eventually going to end up causing harm to you and those around you – even the people who aren’t in direct relation to you. You might be unable to afford health insurance, but if you truly can’t, then you definitely cannot afford to get sick or injured because that’ll cost you far more than what insurance would have. Getting to know what risks you’re going to face while you continue on without insurance might make you think twice about your decision.
Penalties For Not Having Insurance
While this tax penalty is no longer functional in 2019, there’s no telling when it could be back. However, before this tax penalty stopped applying, not having insurance could cost you dearly – with around 2.5% of your income going over to the penalty for not having any health insurance. That’s a lot of money and more than you can afford if you don’t have any insurance. Not only do you go without the benefits of insurance, but you’re also having to pay money because you’re not taking advantage of health insurance. That’s about the worst financial deal that you could give yourself, and the wiser thing to do would be to sign up for one that suits you. As mentioned, this penalty won’t apply from 2019 onwards, but policies can change at any given moment, and that might mean that you’ll have to start paying the penalty once more.
The Harm You Bring To Yourself and Those Around You
First off, you’re not doing yourself any favors by not getting health insurance. Statistically, you’re far more likely to hold off going to the hospital when you need to than the average health-insured person which means you’re risking severe damage to yourself because of that. The delay that un-insured people risk is easily explained – since they don’t want to preemptively waste money on an issue that might fix itself. However, some issues aren’t meant to be tolerated and require immediate medical attention – not granting them that can have devastating consequences on you.
Furthermore, your family is going to suffer once you do spend the extra amount at the hospital if you happen to catch a sickness. Without insurance, your healthcare expenses are going to skyrocket, and the money which would have otherwise been used to advance the living standard of your family will go over to the hospital because you failed to get health insurance. It’s not just your family – everyone in your locality is going to suffer because the money that you’ll lose to your healthcare could have been used to help local businesses or charities.
All of these details point towards the fact that getting insurance is the best possible decision you could make. It’s a good investment to make for your future and could almost be considered an emergency fund in itself because it’ll be used in times of emergency to save you a lot of money.
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