What Happens if I Don’t Have Insurance?

 

 

What is the cost of being uninsured? This is an infamous question. Some people think it’s cheaper to go without insurance—which may be true in the present moment if there are no major health needs happening in your life. But that could change with a flip of a switch. Suddenly, with a quick change of circumstance, you could be receiving medical bills that you cannot afford to pay. 

While it may seem like a game of “what ifs”, it’s a matter of if you want to risk the “what if” of something happening that requires medical attention—and without insurance, that can be very pricey and result in both financial hardship and penalties. 

Consequences & costs of being uninsured

 

1. Tax penalties and fees

Depending on what state you live in, you could receive fees and penalties for living uninsured. In the state of California, those penalties can be as high as $850. The Affordable care act initially required all Americans to have health insurance or they would receive a penalty, but since Congress overturned the federal penalty, be sure to check what your state-wide policy is. 

 

2. Expensive medical bills that you may not be able to pay

Without health insurance, doctor visits, co-pays, and medical expenses in general typically are way higher. Like we said before, suddenly you could find yourself in an emergency, or unexpected situation where it isn’t just suggested to get medical attention, but requires medical attention. A need vs a want. And when you need to receive medical service, the bill will be higher and more costly without insurance than it would be with insurance.

 

3. Medical Debt 

To follow up on point 2, if you are unable to pay medical bills without insurance, you might keep incurring medical debt. This ultimately if left unresolved, can go on your permanent record. Once sent to collections can affect your credit score. 

 

4. Involve legal action

If you run up a medical bill that you are unable to pay the provider can seek legal action. A court order that gives them access to your bank account can also result. They can liquidate your accounts or withdraw the money they need directly from either a savings or checking account. 

With that said, the risk is up to you—but we are here to make sure that you don’t receive any of these consequences here at MLD Agency. We care about finding the right insurance plans and health benefits that make the most sense for you and your needs. 

Get a FREE, no-obligation quote today!