When it comes to starting a family you need to have a few key insurances in place. One type of insurance that is very important for you to have is health insurance. Young families who are planting their financial footings need to make sure they are protected against the unknown. The last thing you want is for something to go terribly wrong medical wise within your family and not be able to cover the bill. You will already be physically strained and an emotional wreck – you don’t need the added stress of a financial crisis.
In short your family shouldn’t go without health insurance. Here’s why.
Financial Protection
If you have started to accumulate assets such as a home and a nice savings buffer you need to protect those assets. Without health insurance you are only one medical emergency away from bankruptcy.
Medical care is very expensive. A broken bone could eat up your entire emergency savings. An unexpected pregnancy could put you in debt and a major illness could completely wipe out all of your assets.
Peace of Mind
While you always hope the best for you and your children you can’t predict the future. Kids are rough and broken bones do happen. In addition, major illnesses happen. Health insurance is something that you just don’t want to be without.
Hopefully a major medical emergency never happens but if it does you need to be prepared. You need to have the peace of mind that you will get the best medical treatment possible without going bankrupt.
Finding Health Insurance
If your employer offers health insurance you should seek out a plan with them. You can meet with the human resources department and get help picking the best plan for you and your family. Since most employers pay a portion of the health insurance for their employees this is normally the cheapest route to go.
But, not all employers offer health insurance. This is actually the case I find myself in. If this is the situation you’re in as well you will have to seek out health insurance on your own. You can do this by contacting an insurance agent or getting a quote online. You should compare a variety of plans to see which ones make the most sense for you and your budget.
Bottom Line
Health insurance keeps you financially protected. If you have a new family you need to protect your future. If your employer doesn’t offer health insurance you should seek quotes online and compare plans from there. Health insurance should be a major part of your financial plan.
Private health insurance really saved our family from disaster when my daughter needed dental treatment!