Why Health Insurance in MO Is Vital for Your Financial Health
The COVID-19 pandemic has left many people around the world struggling to keep their heads above water. It has highlighted just how important it is to have good health insurance. Even those who are lucky enough to have avoided contracting the virus themselves have still been hit by the economic impact of the pandemic. In Missouri (MO) alone, many people have lost their jobs due to COVID-19, and with that the healthcare coverage that came with it.
Without health insurance, even minor medical procedures can become financially straining. In 2019, the average cost of a hospital stay in the United States was $15,734. With health insurance, that cost can be drastically reduced, or in some cases eliminated altogether.
The Benefits of Health Insurance in MO
Health insurance in MO can provide a safety net when it comes to medical emergencies. It can help cover costs for accidents, illnesses or diseases, or even routine check-ups. Not only does this give peace of mind that you are covered for any eventuality, but it can also save you a substantial amount of money in the long run.
In addition to providing coverage for medical treatment, health insurance can also provide preventative care, such as vaccinations and cancer screenings, which can catch illnesses before they become more serious and expensive to treat.
Penalties for Not Having Health Insurance in MO
In Missouri, failing to have health insurance can result in a penalty. This penalty is calculated as a percentage of the individual’s income, up to a maximum of the national average premium for a bronze-level health insurance plan. This penalty is added to the individual’s tax return if they choose not to have insurance.
It’s important to note that there are some exemptions to this penalty, including those who cannot afford insurance, have a religious exemption, or have a hardship exemption. However, the majority of people are expected to comply with the law and have adequate health insurance coverage.
The Bottom Line
Health insurance in MO is essential for your financial well-being. Don’t wait until you need medical treatment to realize that you can’t afford it without coverage. Purchase health insurance today and give yourself the peace of mind that you and your loved ones have access to the medical treatment you need, without the burden of financial stress.
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