Health Insurance helps you pay for care:
Did you know the average cost of a three day hospital stay is $35,000? Or did you know that fixing a broken leg can cost up to $8,500? Having health coverage can help protect you from high, unexpected costs like these.
Your insurance policy/summary of benefits and coverage will show what types of care, treatments, and services your plan covers, including how much the insurance company will pay for different treatments in different situations.
Affordable Healthcare Gov
Starting in (2014) the Affordable Care Act (Obamacare) kicked in and most people in the United States MUST have health insurance coverage. Or pay a penalty.
There is a Penalty if you don’t comply.
People who do not have a qualified health insurance policy will have to pay a tax penalty – starting at $95/individual, $285/family or 1 percent of income. Whichever is the greater for 2014. The incredible thing is, those penalties rise to $695 per individual, $2,085 per family or 2.5 percent of income in 2016. If you have low enough income you won’t have to pay a penalty.