Life is an unpredictable road with plenty of twists and turns. The unexpected can always happen no matter how much you plan for the future. That’s why having health insurance is so important. It helps protect you and your family financially in the event that something happens and you need medical care.
There are many different types of health insurance out there, and it can be confusing to try to figure out which one is right for you. But don’t worry – William Schantz of Mid Atlantic Financial, LLC is here to help!
William Schantz’s Guide to Health Insurance
What is health insurance?
Health insurance is a type of insurance that helps individuals cover the cost of medical care. It can help pay for doctor’s visits, hospital stays, prescription drugs, and more. Health insurance is an important way to help protect yourself and your family from the high cost of medical care.
There are many different types of health insurance plans out there, but they all generally work the same way. You pay a monthly premium (an amount of money you agree to pay every month), and the insurance company agrees to pay for some or all of your medical costs.
What does health insurance cover?
The coverage that you get with health insurance depends on the type of plan that you have. Some plans cover only basic things like doctor’s visits and prescription drugs, while others offer more comprehensive coverage, including hospital stays, surgery, and more.
Some health insurance plans also cover preventive care, like vaccinations and screenings. This type of care can help you stay healthy and catch problems early before they become more serious (and more expensive to treat).
What doesn’t health insurance cover?
There are some types of medical care that health insurance plans don’t cover, including procedures like cosmetic surgery, elective procedures (like getting your teeth whitened), and services that aren’t considered medically necessary.
It’s important to understand what your health insurance plan does and does not cover before you get medical care. That way, you can be prepared to pay for any costs that aren’t covered by your insurance
How much does health insurance cost?
William Schantz emphasizes that the cost of health insurance depends on multiple different factors, like the type of plan you have, the coverage you need, and where you live. In general, plans with more comprehensive coverage tend to be more expensive than those with less coverage.
You also typically have to pay a monthly premium for health insurance (this is an amount that you agree to pay every month). Some plans also require you to pay a deductible (a set amount of money that you have to pay for medical care before your insurance kicks in) and co-pays (a set amount of money that you pay for each doctor’s visit or prescription).
Is health insurance required?
The answer to this question varies based on a few different aspects, like your age, your income, and your family situation. In general, most people are required to have health insurance.If you don’t have health insurance and don’t qualify for an exemption, you may have to pay the penalty when you file your taxes.
Bottom Line
William Schantz believes that investing in health insurance is placing a plan that can forth a contingency plan that can have you covered on bad days. It’s a great way to ensure your own and your loved ones’ long-term health and well-being.