In an era of vast economic and technological developments, there is an increase in lifestyle burden and stress among people, and accompanying it, the increase in severe health conditions is massive. Millions of people are losing their lives before age due to some or other extreme medical conditions. Many people are forced to live a pathetic life due to the unavailability of medical treatments.
This is where we need an Health Insurance. Medical emergencies usually come across our path when we least anticipate them. It can leave you mentally distressed and financially burdened. The best way to deal with these unanticipated problems and the rising inflation is to secure Health Insurance. In this blog, we will see why we need an health insurance.
Why Need Health Insurance?
Health Insurance is a safeguard that empowers you to seek vital clinical treatment without stressing over hefty medical expenses. You can get high-quality medical care without spending your hard-earned savings all in one go. In the current world, these health insurance policies are a financial tool and a significant requirement for individuals and families. Therefore, the importance of Health Insurance in the present world is increasing with each passing day.
The Importance of Health Insurance is highlighted by the multiple benefits it provides. Let us see the purpose of Health Insurance:-
Financial Stability
This is one of the foremost reasons why we need health Insurance. Having health insurance is like having a safeguard for your savings. In case of emergency medical conditions, they might require costly medications, surgeries, operations, etc., which are very expensive to handle. These hefty costs not only make you feel financially burdened but also mentally distressed. Here lies the need for Health Insurance. Health insurance protects you from this condition.
- The Rising Costs of Healthcare
Going to the doctor or getting a good quality treatment can cost a lot of money. The primary reasons for these ever-increasing costs are the advanced machinery and better healthcare services. Here, the Health insurance comes to the rescue. It lightens up the burden of these costly healthcare facilities.
- In case of Bigger problems
Sometimes, drastic things take place with our health, like someone having an accident or someone getting diagnosed with a severe illness. When these unexpected and significant health problems arise, we need a lot of medical help, which can cost a ton of money. In this case, health insurance can again protect us from bearing all the budgetary burden alone and make us more mentally strong.
- Saver for your Savings
If you don't have health insurance, paying for medical stuff might mean using up all your savings in one go, leaving you with no money for other kinds of stuff. So, Health Insurance prevents us from draining all our money together.
Getting Good Healthcare
Health Insurance is a key to excellent healthcare, and along with that, it’s a great way to have financial security. You can visit different good doctors, specialists, and hospitals if you have health insurance. This ensures you and your family get the proper care at the right time, making it a prominent reason why you need Health Insurance.
- Getting Help Quickly:
When insured by health insurance, it's easier to see a doctor when needed. Sometimes, due to monetary issues, we delay going to the doctor, and the illness might worsen with time. With good health insurance, you can always ensure timely medical care.
- Staying Healthy with Check-ups:
In today’s world, there is an ongoing increase in stress, leading to increased ailments and diseases in humans. So, regular checkups are becoming a significant part of a healthy lifestyle. With Health Insurance, you can always ensure proper doctor visits. Routine vaccination is always good for a healthy human. It acts as a preventive care. It can be adequately secured using health insurance.
- Choosing Your Doctors:
With health insurance, you can select the doctors you want to see. It is like having a choice amongst the best doctors available for that particular medical condition; you get to choose one of them, the ones you trust. This way, you know you're getting care from excellent and respected professionals, improving your healthcare experience.
Emotional Well-being
Health insurance acts as a safeguard for our physical health, but it also provides a sense of mental peace. The peace of mind that comes with knowing one is financially secure and will be provided with proper treatment as and when needed is a rest to the mind.
- Reduced Stress and Anxiety:
The thought of costly medical treatments can be a significant source of stress and anxiety. Health insurance lightens this burden, allowing individuals to focus on their health. It also allows better recovery and mind relaxation without worrying about financial needs.
- Family Security:
Families are the pillars of society, and their good health is connected to individual health. Health insurance provides security for families, ensuring they can bear health challenges without compromising their financial stability.
- Improved Mental Health Support:
Many health insurance plans include coverage for mental health services, acknowledging the integral connection between physical and psychological well-being. Access to mental health resources and counseling can be crucial for individuals facing health challenges, fostering holistic recovery.
Protection for Family
Family is our strength, always protecting us in good and bad times. Don’t we need to safeguard and secure that family from various health issues and problems? Health Insurance ensures protection for the whole family. It covers the medical expenses for all family members, including infants, children, and old people. In case any one member of the family falls ill, the whole family is surrounded by mental stress due to it.
However, having health insurance relieves us that our family members will get proper medical treatment and care on time without any hardships. Health insurance helps lighten the financial burden, which helps us be more emotionally available for our family members. It promotes a healthy family well-being and ensures everyone leads a healthy life.
Coverage for Pre- Existing Medical Conditions
Due to the changing lifestyles and environment, the human body is getting more prone to diseases. Most people worldwide suffer from some or other pre-existing medical conditions. Many people are going with one or different types of medical treatment.
Health insurance ensures that individuals with pre-existing medical conditions can access healthcare services properly without facing a hefty cost. This ensures that everyone, regardless of their health status, can receive the proper medications and care they require to maintain a healthy lifestyle and live longer.
Income Tax Benefits of Health Insurance Policies
Having a health insurance policy offers various tax benefits . Under Section 80D of the Income Tax Act 1961, health insurance policy premiums are deductible from taxable income. You can get a tax deduction of Rs.25,000, up to Rs.50,000 for senior citizens.
In this way, the government of India encourages people to purchase health insurance and get better medical treatments. Health insurance is one of the most affordable ways to access healthcare.
Conclusion
Health insurance plays a significant role in promoting overall public health and well-being. Health Insurance ensures that individuals have access to regular medical care and checkups.
They get proper preventive care as and when needed. In a country like India, where poverty is a significant problem, people tend to ignore their health due to financial difficulties.
Having health insurance leads to the early detection of diseases, which can prove to be a lifesaver in many cases. It also reduces the burden on the healthcare systems and helps improve the overall population health.
It also provides financial boldness to individuals and families and helps them lead healthier lives. This also helps uplift the country's socio-economic status as healthy individuals lead to a healthy nation. Health care protects all individuals, creating a more equitable and healthy environment.
