Why You Need Health Insurance
Health insurance is a contract between you and your insurance company. You buy a plan, and the company agrees to pay part of your medical costs when you get sick or hurt.
There are other important benefits of health insurance: Plans provide free preventive care, like vaccines, screenings, and check-ups. They also cover some costs for prescription drugs. Health insurance also protects you from high, unexpected costs of medical care.
Did you know the average cost of a 3-day hospital stay is $30,000? Or that fixing a broken leg can cost up to $7500? Having health coverage can help protect you from high, unexpected costs like these.
• Out-of-pocket maximum. This is the total amount you’ll have to pay if you get sick. For example, if your plan has a $3000 out-of-pocket maximum, once you pay $3000 in deductibles, coinsurance, and copayments the plan will pay for any covered care above that amount for the rest of the year.