Why We Need Medical Insurance In California?

In today’s world, health is a subject discussed more than usual due to the ongoing worldwide pandemic of Covid-19. Throughout their life, every individual falls sick, gets injured or incurs medical expenses of some sort at least more than once and if the costs of getting treatment are high, one could end up spending more money than they make.

Medical insurance is an insurance product that covers expenses incurred by the insured individual. It reimburses expenses for prescriptive drugs, hospitalization, emergency services, rehabilitative services and more. This helps you save dollars on services that could be expensive if you are not insured. Having insurance also helps you get subsidised services that would otherwise be highly priced.

Now, to answer the question why one needs medical insurance in California; Effective since January 2020, it is unlawful to not maintain a qualifying medical insurance in California, and any resident found unabiding will owe a penalty unless they qualify for an exemption. In addition to it being a legal requirement, having insurance is also a wise decision for the betterment of one’s health in the long run.

Let’s say you’re a twenty-five-year-old woman with severe anxiety, and scoliosis, just about making ends meet and don’t have insurance, the cost for mental health expert sessions and to consult with a chiropractor or neurosurgeon could range from $500 for initial consultation (for a mental health expert) & $100 an hour per session afterwards and $281 an hour for a neurosurgeon. That makes it an average cost of $300 per week for a mental health consultation (if you have to go for a session three times a week for 3 months, it sums up to $3,600) & of $843 per week to visit a neurosurgeon; $300 for a chiropractor (if you have to go for a session three times a week for a month, it sums up to $3372 for a neurosurgeon and $1200 for a chiropractor). The amounts are subject change based on your location, the experience of your doctor and the number of sessions you may need.

To protect yourself from paying more than you earn, you must invest in a medical insurance policy. What other benefits do you get apart from saving a lot of money?

The Affordable Care Act (Obamacare) has made it essential for certain medical services to be a requirement provided for by all insurance policies and they are as follows;

• Ambulance services (outpatient care without being admitted to a hospital)
• Emergency services
• Laboratory services
• Pregnancy, maternity and new born baby care
• Mental health and substance abuse services
• Prescription drugs
• Rehabilitative and habilitative services and devices (These help people gain or recover mental and physical skills after an injury, disability, or onset of a chronic condition)
• Hospitalization for surgery, overnight stays, and other conditions
• Preventive and wellness services, as well as chronic disease management
• Paediatric services, including dental and vision coverage for children

Other benefits include;

Cashless care – Medical insurance takes care of your expenses incurred for treatment. Without being concerned of paying in cash, the insured can go into medical treatment and his/her insurance company will cover their expenses depending on what their policy covers.

 Immediate help without worrying about finances – If you are a medical insurance policyholder, you can get immediate medical aid without worrying about your medical expenses as your insurance company takes care of it but, if you are not insured, it becomes challenging to get access to services without paying in cash which can be expensive and life threatening in some situations.

The bottom-line here is that apart from being legally required to purchase medical insurance in California, it is an absolute necessity for one to lead a stress-free life as a policy protects you from financial losses by paying extra money for medical services.