Healthcare expenses are financed with the help of health insurance. Many people obtain health insurance in America through healthcare programs offered by the government like ObamaCare/Affordable Care Act. Although most enjoy private health insurance coverage, mostly through their employer, some people do not have health insurance at all.
Getting coverage through the healthcare coverage programs offered by the government is probably the best way to get insured. When you are not well, health coverage can help you pay for the medical services, medications, hospital care, and the equipment. Marketplace coverage even helps when you are well since it can be used to avail preventive health services like immunizations, annual visits to the doctor, screening and counseling for people of all ages etc.
Importance of health coverage through ObamaCare/Affordable Care Act
Getting healthcare coverage through ObamaCare/Affordable Care Act is important because it has many benefits; some of those are as follows:
Health and Financial risk is minimized
Every individual needs medical care at some point in time. The cost related to medical care is covered through healthcare coverage and has other benefits as mentioned below:
- Unexpected, high medical cost are covered with the help of healthcare insurance
- Before even meeting your deductible, you save a lot of money on medical care.
- Before even meeting your deductible, you get preventive healthcare
- It is better to be covered under the Affordable Care act as you may end up losing a lot of money via your medical bill.
Not having health coverage can expose you to high medical care costs. This may lead you into debt or even bankruptcy. Once your plan’s deductible for the covered services is reached a part of your medical expenses is covered by the plan. Once you’ve met your deductible the plan covers between sixty and ninety percent of your covered expenses.
Even before you meet your deductible, you can benefit from paying a lower cost on your medical visits by getting coverage under ObamaCare. There is also a maximum that you will be paying from your pocket for medical expenses under the coverage plan. Once your maximum is reached through deductibles, copayments and coinsurance, the rest will be covered by the plan.
A lot of preventive services are covered under the healthcare program; some of them are vaccines and immunizations, Mammograms, Contraception, Cancer Screening, blood pressure Screening, Cholesterol Screening, screening for children including hearing and vision etc.
Apart from having benefits, not getting healthcare coverage can get you into trouble as not being insured is subject to a penalty. The penalty for being uncovered is 2% of your income or $325 per person in your household, whichever ends up being bigger.
So if you want to save yourself from high and unnecessary medical costs and also from paying a penalty, you need to get health insurance and the best way to do that would be getting healthcare coverage under ObamaCare/Affordable Care Act and reaping its benefits.