5 Reasons Why You Should Enroll in Health Insurance this Open Enrollment Period

5 Reasons Why You Should Enroll in Health Insurance this Open Enrollment Period

With the Open Enrollment Period for health insurance now in full swing, you may be wondering whether you should enroll or not. In this article, we will discuss five reasons why you should enroll in health insurance this Open Enrollment Period.

Reason 1: Avoiding the Penalty

If you choose to forego health insurance, you will have to pay a penalty fee – also known as the individual shared responsibility payment – when you file your taxes. In 2020, the fee is 2.5% of your household income or $695 per adult, whichever is greater. By enrolling in health insurance during the Open Enrollment Period, you can avoid facing this penalty.

Reason 2: Access to Preventative Care

One of the most significant benefits of health insurance is access to preventative care. This includes routine checkups, vaccinations, and tests which can help detect any potential health issues early on. This preventative care has been proven to save lives, and reduce healthcare costs in the long run.

Reason 3: Coverage for Unexpected Emergencies

Life is unpredictable, and accidents can happen at any time. Without health insurance, you may find yourself at a significant financial disadvantage if you or a loved one experience an unexpected emergency. With health insurance, you can rest assured that you will have access to quality healthcare when you need it most, without having to worry about the cost.

Reason 4: Protection from High Medical Costs

Medical bills can be staggering, even for minor procedures or illnesses. Health insurance provides a safety net, protecting individuals and families from high medical costs. By enrolling in health insurance during the Open Enrollment Period, you can ensure that you are adequately protected against any unexpected medical expenses.

Reason 5: Peace of Mind

Perhaps one of the most important reasons to enroll in health insurance is for the peace of mind it provides. With health insurance, you can relax knowing that you and your family have access to quality healthcare, without having to worry about high medical costs or unexpected emergencies.

In conclusion, the Open Enrollment Period is the perfect time to enroll in health insurance. By doing so, you can avoid penalties, access preventative care, protect yourself from high medical costs, and attain peace of mind. Don’t wait any longer, enroll in health insurance today!