What Makes Health Insurance One of the Essential Coverages You Should Buy This 2020

In the last few months, Covid-19 has dramatically changed lives across the globe. The crisis has brought a massive transformation in how we live, work, and interact, making it difficult to see how the world will look like soon. It puts the limelight on one of the crucial things we should be worried about right now – our health. 
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Here are a few reasons you must invest in health insurance, especially during this crisis.

1. Protects You from High Treatment Cost
   Investing in health insurance plans for you and your family is essential because treatment costs for Covid-19 or other illnesses are getting higher. The spread of the disease is so overwhelming that it can put you and your family members' health at risk. However, if you have health insurance, all these hospital expenses will be covered. 
   
   On average, a 3-day hospital stay could cost around $30,000 or more. Investing in health insurance plans can help protect you from high, unexpected expenses.
   
   
2. You Can Save Money Before You Meet Your Deductible
   Insurance providers can negotiate discounts with health care companies, and as a health insurance plan member, you'll be able to pay that discounted rate. However, people without insurance coverage are expected to pay twice as much for health care. 
   
   And, with a little help from a network provider, you can pay less the amount of the same services than someone who doesn't have health coverage – even before you meet your deductible. For example, you may pay $85 for a clinic visit instead of the $150 someone without coverage may pay. Savings can be more expensive for costly healthcare services. So even if you don't achieve your deductible during the year, you can save a lot on your covered medical expenses by being covered by health insurance plans. 
   
   
3. Avoid Paying Penalty Fee for Not Having Health Insurance
   People who can afford health insurance but choose not to buy it may face a penalty fee called the individual Shared Responsibility Payment when you register your federal taxes. Some states have coverage mandates for 2020, meaning residents must comply and get insured this year or pay the corresponding penalty in 2021. According to the Kaiser Family Foundation, these states include California and Rhode Island. 

At Hayek Insurance, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (805) 496-8835. Get your free quote today by CLICKING HERE.