What is Health Insurance and Why Is It Important

Simply put, health care insurance is a financial deal between you and an insurance company. You pay a monthly fee, and in exchange, the insurer assists in paying some amount for your health care, which can be a doctor’s visit, a hospital stay, medicines, preventive care, etc. Research indicates that 92.0% of U.S. citizens had healthcare insurance in 2023, a huge statistic highlighting its importance. Many people wonder, ‘how much is health insurance a month?’ and this varies significantly depending on the plan and provider.

It should be noted that health care insurance acts as a buffer so that you do not have to pay all the amount without incurring a high level of credit risk. In the absence of insurance, even for sick people with ordinary colds, a simple treatment or even an impromptu visit to the ER tends to be expensive. 

For example, a simple bone repair would set you back a few grand, whereas more complex things like operations or other ailments that require constant doling out could run you into hundreds of thousands. 

Buying insurance assures you that you are insured and not likely to shoulder some of these financial burdens when medical emergencies occur.