10 Problems You Could Face Without Health Insurance
Life without a Health Insurance is like participating in a Moto-GP without any protective gears! One might be a skilled rider. Can he predict what comes in his way? A good Health Insurance is the all-round protection one might get. What will be the scenario you do not have a Health Insurance? Let us dwell into it.
In today’s fast-paced world, health insurance is an essential lifeline to safeguard your physical and financial health. With regular premiums, it offers comprehensive coverage for medical expenses, including routine check-ups and emergency treatments. From preventive care benefits to shielding against unexpected health crises, health insurance empowers individuals to take control of their well-being. However, many among us see health insurance as an expense and as an unwanted investment that could offer less returns.
Let us have a look at the 10 major problems that one could face without having a medical insurance policy.
1. Hesitation in seeking medical treatment:
An individual without health insurance may delay seeking medical attention, in the pretext of securing finance to meet the medical expenses. It could be leading to worsening health conditions and potential complications. As the medical costs are also escalating every day, uninsured individuals may face substantial medical bills, as they must pay the full cost of treatments, medications, and a quality hospital remains the last resort of wellness for them.
2. Financial Burden:
Medical emergencies without insurance can lead to overwhelming financial burdens, potentially causing significant debt. ‘Medical expenses are another major factor contributing to bankruptcy’- says a leading investment-advising platform. People lose all their savings in a matter of a few days’ hospitalization. Even for people with respectable wealth, it would be difficult for them to convert their immovable assets into money and pay in time to get the treatment. Even in the case of successful recovery, the debt would cause further damage to the psychological well-being of the person.
3. Limited access to specialists and prescription medicines:
Lack of health insurance may restrict access to specialized care and limit treatment options for complex health issues. Prescription drugs can be expensive without insurance coverage, making it challenging for individuals to afford necessary medications.
4. Lack of access to preventive services:
Uninsured individuals might skip preventive screenings and vaccinations due to cost, compromising their overall health. While insured individuals make use of the benefits offered by the medical insurance companies to avail of vaccinations and routine health check-ups. Without regular healthcare check-ups, individuals may be at a higher risk of developing chronic health conditions that go undetected.
5. Limited access to quality emergency care:
Health insurance is not just about protecting the policyholder, but also his family. An uninsured person might avoid seeking emergency medical help due to concerns about costs, risking their well-being in critical situations. Most of us are not aware that medical insurance companies offer Air ambulance cover wherever available. Imagine an emergency when an air rescue is the only possibility and you could not afford it. Health insurance offers such premium emergency covers for everyone; those are not just for the affluent anymore.
6. Seeking help from others:
The fear of unmanageable medical expenses might prevent or force individuals to seek help from others, even for serious health issues. But with insurance cover, you can confidently approach the right hospital. Some insurance companies have their in-house team to assist you in availing the right treatment from the right hospital. Why bother others when you have such dedicated insurance companies to provide you with all the support.
7. Catastrophic Events:
Hope you still remember the harshness of the COVID Pandemic, lockdown, storms, floods, etc. We should not forget such bitter moments that could make us ready for any future unpredictable scenarios. In times of natural disasters or public health crises, uninsured individuals may face significant challenges accessing medical support and resources. The very availability of healthcare support becomes a question under such scenarios, forget the affordability factor, however, health insurance plans offer additional hope.
8. Road Accidents:
Road accidents happen everywhere and health insurance plays a vital role by offering immediate access to medical care. It covers hospitalization, surgeries, and treatment costs. It also reduces the financial liability of the injured individual or his/her family. Prompt medical attention leads to better recovery prospects and minimizes long-term health complications. What if you are not insured and unfortunate to meet with a road accident? It is too harsh to imagine.
9. Protection for our parents:
Caring for our parents in old age is an expression of our gratitude, love, and respect for the sacrifices and support they have provided throughout our lives. Though it would not be sufficient to equal their love, Health insurance for parents could be the right way to return the favor. Aging parents need health insurance to protect themselves from the increasing risk of health issues that becomes inevitable during this vulnerable stage of their life. Health insurance offers peace of mind to us as their children, by ensuring that they can receive timely treatments and preventive care in the final phase of their life.
10. Do not compromise happiness:
Happy people tend to be healthier because positive emotions and well-being have been linked to better physical health and immune function, contributing to overall improved health outcomes. Availing of health insurance makes our life stress-free and helps us live a peaceful life with confidence of come whatever may.
A study estimates that 5 million people die every year because of poor-quality health care in low- and middle-income countries. That’s significantly more than the 3.6 million people in those countries who die from not having access to care. Health insurance is not a choice but a need. It is time to secure the right health policy for you now.
