There are many options for obtaining Texas health insurance. From individual Texas health insurance to Texas family health insurance and even a Texas HSA, residents can choose from a variety of plans to cover themselves and their families. And it’s no secret that maintaining Texas health insurance is far cheaper than subjecting one’s wallet to the alternative – paying out of pocket for major medical emergencies, hospital stays and prescriptions.
So why do recent reports from the United Health Foundation find that one in four Texans is living without Texas health insurance? This number is the highest in the nation, placing Texas dead last in percentage of insured residents. Reasons why people forgo insurance include:
High costs – The number one reason people cite for living without Texas health insurance is the cost. However, high deductible health plans can be quite affordable. A high deductible plan features a low monthly premium, and individuals pay out of pocket until their high deductible is met. This plan isn’t for everyone, but it can be a very low cost option for healthy individuals, and it provides coverage in case of a major medical emergency.
Employers don’t offer health insurance – The high price of insurance impacts more than just individuals; employers feel the crunch as well, and many have responded by dropping their employees’ health plans. If this happens to you, consider an individual Texas health insurance plan, which is a far better option than living without health insurance.
Unemployed – Since the majority of health insurance plans are still tied to jobs, the unemployed often lose their Texas health insurance the day they lose their job. However, an individual health insurance plan is always an option, and COBRA may also be a possibility. With COBRA, you may be eligible to continue your health insurance for up to 18 months after you lose your job.
People choose to go without insurance – Millions of Texas workers simply choose to live without Texas health insurance. Forgoing health insurance can save some money, but it’s a big risk that can have severe consequences should a serious illness or accident result in an operation or lengthy hospital stay.
Regardless of your reason for living without health insurance, there is a way around it for the majority of Texans. High deductible plans offer low monthly costs, and maintaining just this minimum level of coverage can result in serious savings should a catastrophic event occur. Plus, recent legislation will make it easier for people with preexisting conditions to obtain health insurance. Texas health insurance is an investment that may seem unduly expensive or unnecessary to some, but it’s an investment that will protect your wellbeing—and your wallet—for years to come.