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What You Need To Know About Insurance Medical No


If you have no medical insurance then you are taking a set of risks that others simply are not willing to take. You are likely saving a large sum of money every month, but are risking the loss of it all if a major medical accident were to occur. Life is simply different for people who do not have life insurance. Many of the people who do not have health insurance are young and in good health. Once they reach a certain age, health insurance almost becomes a necessity. This is especially true if the person has a chronic case of a disease that requires medication or treatment. People who choose to have no medical insurance are going to have to face new laws at the start of 2014. This will cause them to either obtain medical insurance or pay a tax to the Federal Government. Below are listed a few of the advantages and disadvantages to having no medical insurance.


There are some advantages that come with having no medical insurance. One of the advantages is the savings every month. Many of the policies that people have today are very expensive. If a person adds a spouse or dependents then it can become almost unbearable. Some of these policies almost cost as much as the person makes every month. In this case they would be working almost exclusively to pay for the medical insurance. These savings every month could be used to be put into a health savings account. These accounts are places where people can store their own money for medical emergencies and bills. If a person is in relatively good health and has low medical costs every year then this is a great way for them to save money.



There are also some disadvantages to not having health insurance that make it almost a necessity. If someone has a chronic condition they will probably need health insurance. This will keep the cost down for them and save them money. Some medical treatment and medicine costs hundreds of dollars to someone without medical insurance. Using insurance can make these costs affordable and put less stress on the person.

Another disadvantage is that there won't be any guarantee of treatment for someone who is uninsured. If a person fails to save enough money and has no medical insurance, they can be refused treatment unless it is a medical emergency. This could mean a compounding of problems that could have been avoided. If a person chooses to live with no medical insurance they will want to make sure they save enough to cover any emergencies.

People without medical coverage will also face new taxes in 2014. These taxes will be low for the first couple of years and then raise significantly over time. This will make it almost the same price as buying health insurance. People will need to weigh the costs to see which is a better route for them to take.

Tips and comments

It is often times best to have medical insurance if a person can afford it. The benefits far outweigh the cost if the person is not in optimum health. Even if the person is perfectly healthy, there can be unforseen circumstances that can arise.

By Michael Banks, published at 05/11/2012
   Rating: 4/5 (23 votes)
What You Need To Know About Insurance Medical No. 4 of 5 based on 23 votes.


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