Cost of Healthcare is Rising

The cost of getting healthcare services is increasing and without health insurance, you need to pay all the costs out of your own pocket, which is financially overwhelming. By getting health insurance, you can mitigate these expenses as your plan will cover a significant portion of your medical bills.

Life-Threatening Diseases are More Common

Life-threatening diseases such as cancer, heart disease, and chronic illnesses have become more prevalent, and getting treatment for these diseases is extremely expensive. Health insurance provides financial protection to you by covering the costs of diagnosis, treatment, and ongoing management of these diseases.

Income Tax Benefits

Health insurance premiums are often tax-deductible which means that you can reduce your taxable income by the amount you spend on health insurance premiums. However, consult a tax professional or refer to specific tax laws to better understand the extent of these benefits.

Helps Avoid Large Medical Debt

Medical emergencies often lead to substantial debt that is hard to pay off. By getting a health insurance plan, you only pay a monthly premium, and in return, a big portion of your medical bills will be covered by the insurance company.