What is penalty for no health insurance?
What is penalty for no health insurance? Health insurance is undeniably one of the most important things to have in this modern day. Unfortunately, there are still many people out there who don’t realize it. the main benefit is surely about giving you the coverage when something unexpected is happened. It is like when you suddenly need to spend your nights in the hospital because of a disease suffered. At least, you don’t need to think about the budget and just concentrate to your recovery. More than that, there is actually penalty for people without health insurance. Although it is not globally, many countries have been regulated it.
Higher Fee for Health Treatments
The way insurance works is similar to investment or saving. It is when you collect money little by little via the third party and then the money can just be used later. Insurance offers something a little bit different in which the money is used when you really need it. it makes anything easier for sure. Even if you don’t have any money at all, insurance can just make your mind more relaxed. Unfortunately, the penalty done for them without insurance seems worse. You may need to spend money even more than the actual ones for this. It is not only because you don’t have the saving but it is the penalty regulated to force you to buy insurance later.
No Family Protection
For many reasons, insurance is needed for family rather than single person. It is due to the bigger responsibility anyway. it is not exaggerated if insurance including for the health is also namely family protection. Once you have death with health problem, your family must be responsible also. If your status is the money maker of family, the situations are worse. So, make sure to protect your family financially with insurance.
No InvestmentInsurance is a really good investment. Well, no one wants to be sick. But if this is what you must face in the future, you don’t have any choice better than spending money to let the disease go. More than that, today’s insurance is not only covering the treatment when you are sick. For you who want to maintain your health, it is possible also. Some health insurance offers additional services like regular medical checkups. It is not a big penalty indeed but no investment is definitely a wrong movement.