Although many people know they should carry health insurance, the nation has many uninsured individuals. According to Forbes, young adults represent the highest percentage of uninsured people, with 14% being 19 to 25 and 12.5% of people 26 to 34 without insurance. However, that’s also because there are so many myths regarding insurance coverage. This article will debunk four of the most common myths.
1. It’s Unaffordable
Many people think insurance will cost them thousands of dollars. However, there are several options to make insurance affordable for everyone. The Affordable Care Act provided a marketplace for everyone to find insurance within their budget. Options like Medicaid offer payments based on income, ensuring you can get the health care you need.
2. It’s Unnecessary
One of the main reasons we see more young people without coverage is the myth that it’s unnecessary if you’re young and healthy. However, that’s not true. Accidents can and often do happen. A broken ankle and a trip to the emergency room could lead to a bill that costs hundreds of thousands of dollars and you may not qualify for financial aid through the hospital. Insurance can also cover doctor’s visits to prevent disease and keep you healthy.
3. It Increases in Cost
Another common myth is that insurance costs often increase if you use your insurance. This myth is based on car insurance, as the more you use your car insurance for coverage, such as vandalism or if you are in several car accidents, the more your premium will cost. However, health coverage doesn’t work that way. Your premium will typically remain the same even if you visit the doctor. Most insurance companies advise you to go to the doctor because preventative care can help save money on treatment later.
4. It’s All the Same
Some people instantly opt for health insurance through the cheapest provider they can find because they think they are all the same. However, that’s another common myth. Different plans offer various levels of coverage. Medicaid has several plans available to cover dental, vision, and prescription drug coverage, so you only pay for what you need.
We understand you may have several questions regarding health insurance. Our representatives can help you determine the level of coverage you need and give you all the information required to make an informed decision. Contact Insurance Advisors Agency, Inc for more information today.