Should I consider getting health insurance??

Question

I am 22 and have no health insurance. I am a pretty healthy person and don't have to see the doctor often. I just think it's a waist of money to get health insurance unless it's for accidents or something like that because in order to get an affordable monthly premium then your deductible is going to be high. I may never reach the deductible, but still have to pay the premium. So should I just pay out of pocket when I do need to go to the doctor and just consider getting a high deductible plan or should I just go ahead and pay a higher monthly premium for a lower deductible. (Remember I don't have to see the doctor very often, I'm relatively healthy)

Answer 1

A high deductible policy may, depending on what state you live in, only cost you $40 per month. Often these policies cover preventative care such as your annual physical (now called your wellness benefit) and vaccinations at no cost. That alone is worth the cost of the premiums. Plus, now you are covered for the what if...

Don

http://mtnhealthinsurance.com

Answer 2

At the least, get a high deductible plan.  One serious injury or illness (and being 22 and "healthly" doesn't immunize you) and you could be financially wiped out.

Answer 3

Answer your own question by asking yourself, "Will I EVER get sick, injured or die"?

If you can say "no" to that question, you don't need health or life insurance.

Only sick or injured people need health insurance, and only dying people need life insurance. But it's impossible to get the coverage once these occur.

That would be like trying to buy a fire policy on a house, with a fire already started.

Insurance, whether it be medical, life, auto, home, is to protect you from the unknown and unexpected. Now if you think the possibility of you getting sick, injured or death exists, but don't know when it will occur, you need life and health insurance.

See your local professional agent for details.

Answer 4

If you don't have a job that provides health benefits, it's unlikely you can afford a comprehensive health plan.

The BIGGEST RISK of not having any insurance is that you have a major illness or injury that will make you unable to work for an extended time and leave you crippled with medical debt.

I think it would be wise to get at least get coverage for major expenses, even if it has higher co-pays and deductibles. Doctor visits and prescriptions are not your key concern, so getting a policy that doesn't cover them will save you money but still protect you from major bills.

If you can swing the higher deductible I'd say go for it definately.

Answer 5

This is a tricky question because you are right, at your age, you should not need insurance for many age-related illnesses, but on the other hand, a traffic accident or a serious illness could bankrupt you with out insurance.  It is a statistical "c**p shoot" so to speak.  You have several options.  One is to get a plan that is essentially for catastrophic illness/trauma with a  (very) low monthly premium and a high deductable. Another is to look at a HMO such as Kaiser and get a very basic plan, which at your age, should be very inexpensive and covers many basic services.  Another option is through work--getting a job that affords health insurance, or if you are a student, student  insurance plans are very affordable as the companies assume you are healthy.

At your age , getting a low deductible probably does not make sense.  You need more coverage aimed at trauma, or severe illness (such as cancer).

But be sure and update your insurance as time progresses!

Answer 6

You  are  approaching  an  age  when  most  people  have  full  time  employment ,

And  most   of   the  better  employers  have  a  benefits package  that  includes  medical .

What  about  those prospective  employers ?

( depending  on  what  state you  are  in ,   packages  can  be  like  $800  a  month )

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Answer 7

Health is the most important thing you have. Pay a higher monthly premium and do not look at it as a waste of money. It is a precaution, it's just something you do in 2008. There is a difference between someone who is insured and someone who is not when it comes to decisions made at the hospital (unfortunately not everyone gets taken care of equally). Protect yourself the best way you can and you will be able to sleep at night.

Answer 8

Please, take a look at this board, just browse through all the people who didn't get health insurance, and then something goes wrong, and now they CAN'T get it, or they have huge bills for that appendectomy or broken ankle, and can't figure out how to pay it.

Uninsured medical costs are the #1 reason for filing bankruptcy in the USA.

Insurance - including health insurance - is a financial tool.  The time to buy it, is when you're healthy.

If something goes wrong in two years - You'll never have coverage, potentially for the rest of your life, and you won't be able to afford most treatments.  By not having health insurance - even if it's a high deductible plan that isn't going to pay out for little stuff - you're taking a major risk of living in poverty for the rest of your life, which will be shortened, by not being able to afford, for example, chemotherapy, if you get cancer.

You have to balance out the less than $100 a month for a high deductible plan, vs, the monthly payments if you break an ankle & need surgery and physical therapy next week ($75,000).  

I would NOT get a low deductible plan at your age.  RUN THE NUMBERS.  What you'll save with the high deductible plan, will be tremendous - especially if you can pair it with an HSA.