What is the Consequence of Not Having Health Insurance?
Not having health insurance in the USA can result in crippling medical debt, delayed care, legal actions, and financial instability, limiting access to essential healthcare services.
by Sai V
Published Oct 30, 2023 | Updated Oct 30, 2023 | ๐ 1 min read
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What is the Consequence of Not Having Health Insurance?
Not having health insurance in the USA can lead to severe consequences, including crippling medical debt, delayed or foregone necessary medical care, and potential legal actions such as lawsuits and wage garnishment. Additionally, in some states, individuals without health insurance may face tax penalties, further exacerbating their financial burden.
The absence of coverage can result in significant out-of-pocket costs for medical services, leaving individuals vulnerable to high hospital bills. Overall, the consequence of not having health insurance is a heightened risk of financial instability and compromised access to essential healthcare services.
What is Health Insurance?
Health insurance is a contractual agreement where a company covers medical expenses in exchange for monthly premiums. It includes deductibles and co-payments, with higher premiums leading to lower out-of-pocket costs. The Affordable Care Act ensures coverage for preexisting conditions and allows young adults to stay on parents' plans until age 26.
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