Health insurance is in the best interest of both your health and your wallet. Surging costs of health care in the United States have created a crisis for low income families. In a 2005 survey by The Commonwealth Fund, while 96% of families earning more than $60,000/year reported having a health insurance to help absorb the burden of these rising expenses, an astonishing 53% of low income families were uninsured or had a lapse in coverage in the past year.
Being uninsured can have devastating cvonsequences, which include:
- Compared with insured persons, uninsured individuals and their families are four times more likely to avoid seeing a doctor for preventative or urgent care due to cost.
- Due to a lack of preventative care options, advanced stage diseases are diagnosed 30-50% more often in the uninsured.
- The Institute of Medicine estimates that 18,000 uninsured adults die from preventable diseases annually.
- Because advanced-stage diseases are more prevalent in the uninsured, 20% of uninsured adults (versus 3% of insured) also say their usual source of health care is the emergency room, where the cost of a single visit costs $3,300 on average.
- One third of uninsured families report having significant difficulty paying medical bills, and one in four say they have had to change their lifestyle significantly to pay bills.
With an adequate insurance policy, not only will you have the peace of mind that any medical emergencies you encounter won’t strain your budget. You’ll also be less at risk for encountering medical emergencies, through preventative care options that can significantly reduce your likelihood of developing terminal illness.
For more information about low income policies, and to find out whether you qualify, give us a call at 860 684 2721 or talk to your independant agent.